What are alternative payment methods and why do they matter?

‘Alternative’ generally means unconventional or outside the mainstream. It’s something niche, specialist or with a small yet devoted following. When it comes to payments, however, ‘alternative’ is a misnomer. In some markets, alternative payment methods are more mainstream than niche.
In this article, we go back to basics to explain:
• What are alternative payment methods?
• Why have alternative payment methods emerged?