What are alternative payment methods?
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Alternative payment methods are options for customers to pay without using a credit card. Adding such methods can help you reach more customers, boost sales, and even lower transaction costs.
Popular options in the U.S. include:
- Debit cards:Work like credit cards but pull funds directly from the customer’s bank account, making it easier for them to manage spending.
- ACH bank transfers: A simple, low-cost way to move money directly between bank accounts using the Automated Clearing House network.
- eCash services: Providers like Skrill let unbanked or underbanked customers pay online with card-like convenience.