Explore our diverse range of payment types for high-growth markets
Local or alternative payment methods (APMs) refer to any solution that is not a major international credit or debit card brand. These include domestic cards, cash-based vouchers like Boleto in Brazil or Oxxo in Mexico, mobile money payments, digital wallets such as Alipay, and real-time payment solutions.
-
A traditional money transfer solution.
Allowing customers in emerging markets to pay through their local bank is a simple way to localize transaction methods and increase regional coverage.
A bank transfer is a means of sending money from Bank A to Bank B. Transferring cash at or through a bank using account information is a global practice and has been a staple in money transfer for over 150 years.
Emerging markets where bank transfers are prevalent
-
Using physical cash for digital purchases.
Cash is still popular in several high-growth markets, even for digital purchases. A lack of financial education and the previously slow implementation of new payment technology and regulations have made some consumers wary of traditional or digital payment systems.
There are two main methods to pay with cash when transacting digitally: cash vouchers or cash on delivery.
Emerging markets where cash is prevalent
Payment methods using cash
-
Fawry
-
Oxxo
-
Wafacash
-
-
Paying on the move.
People use digital wallets globally because they are simple, cost-effective, and more accessible than traditional banking systems.
Prevalent throughout emerging markets, digital wallets allow for the instant transfer of funds through several linked routes – from QR codes, credit or debit cards, and tap-to-pay using Near Field Communication (NFC) technology.
Emerging markets where eWallets are prevalent
Payment methods using digital wallets
-
Alipay
-
Yape
-
WeChat
-
JazzCash
-
-
Transacting online with just a mobile number.
Mobile money, a popular alternative payment method in Africa, allows users to send and receive money through mobile phones.
Operated mainly by telecommunications companies, mobile money works purely off of a cellphone number on a basic phone. There's no need for a smartphone or data - making it a more accessible payment option.
Emerging markets where mobile money is prevalent
Payment methods using mobile money
-
Airtel
-
M-Pesa
-
MTN Mobile Money
-
Paga
-
-
Instant cash flow with real-time payments.
Real-time payments are a victory for businesses and customers alike. Instant payments enable immediate payment confirmation and 24/7 availability - a streamlined process for all.
However, the payment method still needs a bank account; real-time payments link to and pull money from one bank account into another.
Emerging markets where real-time payments are prevalent
Payment methods using instant payments
-
PIX
-
UPI
-
DuitNow
-
Saudi Arabia
Nicaragua
Colombia
Egypt
Mexico
Morocco
Peru
Indonesia
Pakistan
Kenya
Ghana
Tanzania
Brazil
India
Malaysia
