Q&A: Why it’s time to rethink your APM strategy: A conversation with Checkout.com’s Manika Singh

Payments are becoming an increasingly decisive lever for growth, particularly at checkout, where customer expectations, local preferences, and performance converge in seconds.

I’m joined by Manika Singh, VP of Product at Checkout.com, to explore how they approach alternative payment methods (APMs) at a global scale. In this conversation, we unpack how Checkout.com decides which APMs to add to its network, why “more” isn’t always better, and why many merchants may need to rethink their APM strategies.

Arthur Bedel: Manika, thanks for joining this month’s Q&A. Alternative payment methods are firmly on every merchant’s agenda, but there’s still a lot of confusion about where to start. From Checkout.com’s perspective, what’s changed in how merchants should think about APMs today?

Manika Singh: The biggest shift is that APMs are no longer a “nice to have” or a box-ticking exercise, but a core part of conversion strategy. What’s changed is our understanding that more choice doesn’t automatically equal better outcomes. If you overload the checkout with payment options that aren’t relevant to the customer, you can actually create a chaotic experience that leads to cart abandonment. So the focus now is on relevance, not volume, offering the right methods to the right customers at the right moment.

Arthur: That idea challenges a long-held assumption in payments, that merchants should add as many local methods as possible. Why is that approach starting to fall short?

Manika: Because customer behavior at checkout mirrors decision-making everywhere else. Too much choice creates uncertainty. We see clear evidence that customers abandon when they don’t see a familiar method, but also when they’re overwhelmed by options that feel unfamiliar or unnecessary. There’s a tipping point where additional methods stop adding value and start eroding trust or clarity. Successful merchants now recognize that checkout design and payment strategy are deeply linked.

Arthur: Let’s turn to Checkout.com’s side of the equation. How do you decide which APMs to add to your global network?

Manika: Everything starts with market and local trends, customer usage and merchant demand . We add them because they’re widely used, trusted by consumers, and capable of driving measurable impact for merchants in specific markets. That means analyzing consumer behavior at a regional level, understanding how people actually prefer to pay, and validating that demand across multiple merchants and verticals before we invest in an integration.

Arthur: Can you give an example of how that plays out in practice?

Manika: Over the past couple of years, we’ve expanded coverage very deliberately across regions. In Europe, that means deepening our support for methods like Klarna, Swish, Twint, Vipps MobilePay, SEPA DD, and MBWay. In MENA, it’s been Mada, STC Pay, Tabby, and Tamara. And in Asia, we’ve focused on methods such as Alipay, WeChat Pay, GCash, PayNow, and Octopus. Each of those reflects strong local adoption and clear merchant demand. The common thread is relevance, as these are methods customers actively look for and trust.

Arthur: You’ve mentioned impact a few times. How do you define success when adding a new payment method?

Manika: We look at tangible merchant outcomes: acceptance rate uplift, success rates, adoption across our merchant base, and operational metrics like latency and error reduction. We also track how quickly merchants can activate and test new methods. If a payment method doesn’t translate into better performance or customer experience, it doesn’t justify the complexity it adds.

Arthur: Complexity is a recurring theme for merchants. How does Checkout.com help them manage a growing mix of APMs without increasing operational burden?

Manika: This is where platform design really matters. We’ve built our APM strategy around a single API and unified dashboard, so merchants don’t have to juggle fragmented integrations. On top of that, products like Flow dynamically surface the most relevant payment methods based on factors such as customer location and device. That means merchants can improve choice without hard-coding logic or constantly redesigning their checkout.

Arthur: Direct integrations versus aggregators is another debate in the industry. How do you approach that balance?

Manika: We’re pragmatic. For high-impact methods where performance, reliability, volume and data visibility really matter, we prioritize direct integrations. Methods like BLIK, MB Way, or Tabby fall into that category. Direct connections give us more control and better insight, which ultimately benefits merchants. At the same time, aggregators like Alipay+ or PPro play an important role in extending global reach efficiently - especially in markets where Checkout.com isn’t a locally licensed acquirer. It’s not either/or, it’s about choosing the right model for the right use case.

Arthur: For merchants reading this who feel their APM strategy hasn’t been revisited in a while, what’s the first thing they should reassess?

Manika: I’d start with data. Look at which methods are actually used, where customers are dropping out, and how performance differs by region or demographic. Payment strategies shouldn’t be static. Consumer preferences evolve, and so should the checkout experience. -. Merchants who actively optimize payments as a core part of their funnel tend to outperform those who set it once and forget it. 

Arthur: Final question, what’s the biggest misconception you still see around APMs?

Manika: That adding payment methods is inherently a growth strategy. In reality, growth comes from alignment between customer expectations, merchant goals, and technical execution. When those three are in sync, APMs become a powerful lever for conversion.