Local Payment Methods
For online merchants seeking to expand their sales channels into other territories, Lateral Payment Solutions gives merchants access to a range of Alternative Payment options.
Cards are seen as the dominant payment method in the United Kingdom and North America; however the vast majority of other regions aren’t so card centric. Online Banking, E-Wallets and Prepaid solutions are the payment type of choice throughout many of the world’s major online economies, particularly with younger generation shoppers.
Did you know?
- The Alternative Payment market will grow by more than 12% by 2017
- 82% of Online shoppers prefer a range of payment options over credit and debit cards.
- Nearly 50% of online shoppers purchase from overseas websites.
- The 18-30 age bracket are more likely open to using Alternative Payments.
- Alternative Payments are used by 40% of online shoppers in Europe’s general retail sector.
Lateral Payments’ in-depth knowledge of the international payments arena puts you in the driving seat, helping you to realise your global ambitions. Through a single integration into our systems we allow you to seamlessly cross borders by giving your customers the opportunity to pay via their local payment method. Not only does this drive revenue through increased conversions at the point of checkout but it will instantly improve your customer service credentials.
Real Time Bank Transfer
An attractive option for merchants as they usually receive immediate confirmation of the authorised payment along with a next day settlement. With minimal risk, customer orders can be placed on next day delivery. Consumers cite “bank level security” and simplicity in making a payment as a major selling point.
Lateral Payment currently offers the following Realtime Bank Transfer Solutions:-
Prepaid solutions allow customers to make purchases in relative anonymity, while it is like cash for the merchant, the payment is real-time and guaranteed.
Prepaid solutions come in the form of a card and/or paper voucher with a unique code. The customer purchases a prepaid card or voucher at a retail outlet or online. The prepaid has a fixed value of which the consumer can choose to spend the full amount online.
Lateral Payment currently offers the following Prepaid Solutions:-
It gives users the opportunity to make e-commerce transactions quickly and securely. An e-wallet allows customers to store credit card information, e-cash, contact information, shipping, and billing information which are used to pay for on-line purchases. It is convenient for the user as it saves having to resubmit details every time they wish to make a deposit.
Lateral Payment currently offers the following E-Wallet Solutions:-