Below is from Oracle Metalink ID 1919051.1
PAYMENT_METHOD_LOOKUP_CODE is obsolete in R12 hence it should not be referred in R12. If you want to refer payment method code from Invoice header then PAYMENT_METHOD_CODE should be used. During upgrade to R12 we populate PAYMENT_METNHOD_CODE with PAYMENT_METHOD_LOOKUP_CODE for migrated invoices.
SELECT payment_method_code, payment_method_name, description
FROM iby_payment_methods_tl
WHERE payment_method_code IN
(SELECT DISTINCT PAYMENT_METHOD_CODE
FROM AP_CHECKS_ALL
)
AND language = USERENV('LANG')
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