Alternative Payment Solutions
Alternative payment methods are defined as a way of paying for goods or services which are made via diversified channels such as cash or major card schemes (Visa, MasterCard, American Express). This includes prepaid cards, mobile payments, e-wallets, bank transfers, mobile solutions, vouchers and open banking.
Here are some of our Alternative Payment Methods
Business e-Wallet Solutions
A business e-wallet is a digital wallet that is specifically designed for use by businesses. Business e-wallets may be used to store, send, and receive digital currencies. or to receive payments from customers or clients. Some business e-wallets are linked to specific payment networks or platforms, while others can be used to make payments at any merchant that accepts them.
Some features that may be offered by business e-wallets include:
- Invoicing and billing: Business e-wallets may offer invoicing and billing tools to make it easier for businesses to request and receive payments from customers.
- Multiple user accounts: Business e-wallets may allow multiple users to access the account, each with their own login and permissions. This can be useful for businesses with multiple employees or departments.
- Customization and branding: Some business e-wallets allow businesses to customize the look, and feel of the wallet, including the ability to add their own logo and branding.
- Integration with accounting software: Some business e-wallets can be integrated with accounting software, making it easier to track and manage financial transactions.
Overall, business e-wallets can be a convenient and secure way for businesses to manage their digital financial transactions.
Open Banking Solutions
Open banking is a financial system that allows individuals and businesses to securely share their financial data. Open banking is often implemented through the use of application programming interfaces (APIs), which allow different financial systems to communicate with each other and exchange data with the bank’s systems in order to access data, initiate transactions, and perform other banking-related functions.
In the context of open banking, transactions refer to the movement of money between accounts. For example, a customer can use his open banking app to purchase something, or to pay a bill online. The app would use the bank’s API to initiate the transaction, which would then be processed by the bank’s systems and reflected in the account balance.
Mobile Payment Solution
A mobile payment solution is a way to make financial transactions using a mobile device, such as a smartphone or tablet. There are many different mobile payment solutions available, each with its own set of features and capabilities.
Some common features of mobile payment solutions include:
- The ability to store payment information, such as credit card numbers or bank account details, on the mobile device.
- The ability to make purchases or send money to other people using the mobile device.
- Integration with loyalty programs or rewards systems.
- Security measures, such as encryption and authentication, to protect the user’s financial information.
- Mobile payment solutions can be used in a variety of settings, including online shopping, in-store purchases, and peer-to-peer payments. They can also be used to pay bills, buy tickets, and make other types of financial transactions.
A voucher payment solution is a way to make payments using a voucher, which is a document or code that can be exchanged for goods or services. Vouchers can be physical, such as a paper coupon or gift card, or digital, such as a code that is sent via email or text message.
Voucher payment solutions are often used as a marketing tool to encourage customers to make purchases or try new products or services. For example, a company might offer a voucher for a discount on a future purchase, or a free trial of a subscription service. Customers can redeem the voucher by presenting it at the time of purchase or entering the code into an online form.
Voucher payment solutions can be used in a variety of settings, including online shopping, in-store purchases, and service-based businesses such as educational courses, and many other uses.