What Are Local Payment Methods?
Only 18.4% of the World’s Population Has a Credit Card1
For organizations selling globally, the ability to accept local payment methods is crucial. Different payment types are popular in different parts of the world, and accepting them means easier and more profitable cross-border sales for you.
Challenges Involved in Accepting Local Payment Methods
Country-to-country, accepting local payments comes with its own set of challenges, including:
- Managing multiple integrations with different payment types, that can each take months
- Managing local compliance, regulations and licensing
- Understanding payment preferences across multiple countries and regions
Rapyd overcomes these challenges by letting you accept over 900 local payment methods in 100+ countries through a single fast and easy integration.
Rapyd Collect lets you accept payments globally using the following local payment methods:
- Card Payments – Accept credit and debit card payments online.
- Card Payment with 3DS Verification – add additional security to online credit and debit card payments.
- Card on File – securely store payment information for repeat purchases.
- Bank Direct Debit – accept ACH, BACS, and SEPA direct debit payments.
- Bank Transfers – accept bank-specific payment methods from your global customers.
- Bank Redirect – accept local bank redirect payment methods online.
- Cash Payments – let your ecommerce customers pay with cash.
- eWallet Payments – collect payments with popular and secure digital wallets.
1. World Bank Global Financial Inclusion, 2017