Alternative Payments (Company)
Type of site | Private |
|---|---|
| Founded | 2013 |
| Headquarters | Pasadena, California, |
| No. of locations | 2 |
| Area served | Worldwide |
| Founder(s) | Wolf Kring, Ines Kring |
| President | Ines Kring |
| CEO | Wolf Kring |
| Industry | Payment processor |
| Services | Payment Services, Payment gateway |
| Website | alternativepayments |
| Current status | Active |
Alternative Payments is a US-based regulated global financial services organization and licensed e-money issuer authorized to carry out payment service activities for e-commerce merchants, government organizations and independent sale organizations. The company also operates in a white-label capacity for US payment processors needing to support international payment methods.[1] Alternative Payments provides processing solutions for B2B and B2C cross-border transactions. The company acts as an aggregator of multiple European and Asian payment methods such as SEPA direct debit (EU), bank transfer methods like iDeal (Netherlands), GiroPay (Germany), and credit transfer method like Boleto Bancario (Brazil).
Products & Services
In 2015, Alternative Payments released its completely overhauled payment gateway. The service includes a single merchant account supporting acceptance of over 20 global payment methods. The service also provides a hosted checkout page which can GEO detect the payee’s region and display the appropriate payment options. The amount of purchase is displayed in the correct currency. Payments received can then be converted to the merchant’s regional currency and deposited to a local bank. This service allows international transactions while negating the need for merchants to establish locality in the EU.
Alternative Payments Inc. is the creator and operator of the EuroDebit payment method. Euro Debit is an electronic direct debit built on the Single Euro Payment Area regulation. This payment method, therefore, is available to all residents of the European Union who hold an EU bank account.
As of August 2014, 99.4% of credit transfers, 99.9% of direct debit and 79.2% of card payments have been migrated to SEPA in the euro area.[2]
Banking status
In September 2014, Alternative Payments Inc. was granted a Payments Institution license by the Central Bank of Lithuania under "UAB Alternative Payments". This accreditation provides Alternative Payments Inc. a license to transact financial business under the regulation of European Banking Authority.[3]
Security
Alternative Payments is a PCI DSS Level 1 Certified Service Provider.
See also
- Alternative payments
- Electronic Commerce
- Payment gateway
- Payment service provider
References
External links
- Official website
- SEPA official website
- EuroDebit
- Central Bank of Lithuania
- PCI Security Standards Council
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