Payment Methods are the options licensors will have available to them when it comes to them submitting an invoice. At least one Payment method needs to be selected before you can generate statements.
The Country field allows you to set payment method availability for a specific territory, so if you’d prefer a payment method only be available for licensors in certain countries, you can specify that here.
If Bank Transfer is selected, you will have a further option for Local Bank Mode. This allows you to select whether the fields shown include IBAN or Local bank transfer fields. If Country Dependant, is selected local bank fields will be shown to licensors in the same territory as you, otherwise IBAN fields will be shown.