Understanding payment lifecycle and managing alternative payments effectively is essential for businesses seeking to optimize approval rates and streamline operations.
- Payment lifecycle involves tracking orders and transactions through various stages, with real-time Webhooks providing updates on events like refunds and chargebacks, helping merchants reduce risks and improve processes.
- Supported currencies allow APMs to handle multiple currencies, following ISO 4217 standards, enabling customers to pay in their local currency, which is converted and credited accurately.
- Country-specific requirements in APMs improve approval rates by collecting key customer data such as identity details, ensuring compliance and boosting transaction success.
Alternative payment management involves tracking orders (customer requests) and transactions (cash flows) at various stages, from creation to final states such as approval or refund.
Webhooks provide real-time updates on events such as refunds, cancellations, and chargebacks, allowing merchants to optimize processes and reduce risks.
APMs supports a lot of currencies, adhering to ISO 4217 standards for global accuracy. Customers can pay in their local currency, which is converted and credited to your account.
Amounts must be entered in the smallest currency unit (e.g., 1000 for 10 USD), while zero-decimal currencies require whole integers.
APMs helps improve approval rates by collecting additional customer data based on country-specific requirements for method.
Key fields such as identity details and phone numbers must be included in payment requests to ensure compliance and optimize transaction success.