You can change the order expiry period for all payment methods except SEPA bank transfers, for example to give your customers more time to complete their orders so that you can send second-chance emails.
All the payment methods have a default order expiry period of 28 days except for SEPA bank transfers have a fixed order expiry period of 12 days.
Note
If you select the Payments API method and change a payment method's order expiry period, that change will be reflected in WooCommerce, but it won't be passed on to Mollie.