Payment methods

Push payment: The payer sends money to a payee.

Pull payment: The payer authorizes the payee to debit funds from the payer's account.

Bank transfers are a type of push payment. The payer gives explicit instructions to their bank, such as the amount and destination of the payment.

Direct debits are a type of pull payment. The payee asks their bank to pull an amount from the payer's bank account. In this instance, the payee controls the amount and destination, rather than the payer.

Instant availability: A near-immediate or immediate transfer of funds between payer and payee.

Delayed availability: The movement of funds is delayed between payment initiation and completion.

Bank transfers in some countries have an instant payment infrastructure that supports near real-time transfers. Examples include Faster Payment Service (FPS) in the UK, and SEPA Instant Credit Transfers in the EU.

Voucher-based payments are non-instant. The funds are available immediately, but the transaction is not instant because the payer uses the voucher later. For example, payers who pay with Boleto receive a voucher online, and complete the payment offline by scanning the voucher and paying in-person at an authorized location, such as a convenience store or an ATM.

Direct: The payer chooses a payment method during checkout on the seller's checkout page.

Actions

• Redirect: The payment flow redirects the payer from the seller's checkout page to the payment method's own experience to confirm the payment.

• Offline: The payer needs to complete an additional action, such as paying offline or scanning a QR code.

Redirect-based payment methods like iDEAL redirect the payer to the native online banking environment of their own bank to log in and approve the payment. The payer returns to the seller's checkout page after approving the payment.

Automated clearing house (ACH) transfers are a direct payment method that a payer can use during checkout. The payer stays on the same checkout page for the full journey to complete the payment.

Boleto is an offline payment method that requires the payer to pay for a voucher at an authorized location.