A payment link is a URL (hyperlink) that you might post online, on your website, in such an email, or via WhatsApp. When clients click on just this payment link, they would be redirected to something like a payment page where they would pay using a variety of payment methods.
Payment links provide a quick and painless method for businesses to make money requests to their consumers. Confirmed payments would trigger a real-time notification to the merchant informing them that perhaps the payment was received and processed successfully.
Payment link types
Here’s how you can create payment links-
The majority of the time, merchants have the option of sending payment links by email or text message. The payment link is generated by the merchant on the virtual terminal located inside the back office of the business, and it is then sent to the consumer. This allows the customer to avoid disclosing his sensitive card number over the internet. Instead, users enter their card details onto the payment page that is associated only with the payment link. The increased level of protection afforded to the customer as a result of this additional step within the path they take while making a purchase over the phone
Pay Links Encourage Quicker Transactions in Financial Transactions
The use of traditional paper invoices requires a significant investment of time and resources. From creating the invoice to sending it out to waiting for such payment to be deposited and cleared, there are a lot of steps involved. The billing process can be streamlined with the help of electronic invoicing, which can also reduce high DSO and put you in current and savings accounts more quickly. Customers can be encouraged to pay their e-invoices as soon as they are received by including features such as embedded Pay Now buttons or pay links in the electronic invoices.
92 percent of invoices that have been received electronically are paid on time; however, just 45 percent of invoices that are received in paper form are paid on time, as reported by PaymentsSource. Because consumers are able to make payments on electronic invoices as soon as they are received, businesses that use electronic invoices should also expect to see a reduction in payments that are either late or not made at all.
Benefits of payment links-
- Accept all forms of payment, including electronic wallets, from customers located throughout the world.
- You may expand your business’s reach throughout the world by allowing customers to complete their purchases in the currency and language of their home country.
- Adjust the content and look of your checkout page so that it corresponds with your company’s image.
- Utilize technology that combats fraud in real-time to safeguard sales.
- Utilizing our sophisticated payment routing technology, you will be able to okay more transactions.
- Maintain PCI Level-1 compliance.
How to create a payment link
Choosing a service to provide payment links
It’s possible that more payment processors will offer payment linkages in the future as a result of the increasing interest shown by merchants in conducting business across different channels. The following firms, which each provide such a payment link service, give users experiences that are comparable in nature. However, additional aspects of certain platforms set them apart from others. If you do not currently have a payment processor or are considering making a move, you should think about the whole range of features that each product provides, in addition to payment links.
- While you can use the payment links service offered by the firm that processes payments, you will first need to register your business with the company.
- You need to create an account and take whatever month or yearly subscription you are interested in.
- Once you complete the registration process, you can access their platform for payment link generation. Most of the processors offer a one-click payment link generation service.
- You can also personalize the payment link, along with the uploading of a picture, which is included with every one of the following choices.
- When a consumer makes a purchase via a payment link, you will be responsible for paying a processing fee just like you would for any other card transaction.
You can save your link as just an inbuilt buy button and afterward easily add eCommerce to your current website, or you can add eCommerce functionality to your blog immediately. You can modify the text on the buttons so that it reflects a certain activity, such as “Buy Now” or “Subscribe.” You can also change the color of the button to correspond with your company’s identity. When a consumer clicks on the link that you gave them, a payment form would automatically open in their web browser.
Your customer would have the ability to enter their credit card information into the form, and they will also be able to access an overview of the payment.
This contains information such as the particulars of your company, the products sold, the prices of those products, as well as the total amount.
You, as well as your consumers, can enjoy peace of mind knowing that the highest level of protection is afforded to both of you when you use a payment link that is backed by an online payment processor. The financial data of merchants, as well as the customers they serve, are both protected by the multi-layered security protocols that are standard in today’s online payment systems.