How Do Payment Links Work?
Payment links allow businesses to quickly send their customers a request to pay for goods or services. The business simply enters a payment amount and a customer reference identifier (such as an order number, invoice number, statement number, etc.), and then adds the customer’s contact details, such as email and a mobile number. The customer immediately receives a personalized link where s/he can pay now
.
Businesses simply log-in to their merchant portal and:
- Enter the Customer’s Payment Amount and their customer reference identifier
- Add the Customers Contact information for where to send their payment link
The Payment Link is instantly sent to the customer via email, TXT message or both!
For added customer convenience, businesses can also choose to send their customers links that offer options for both paying online or by automated phone. In addition, businesses can even choose to set an expiry date for the payment link if they need to make paying via the link a time limited offer.
For customers, the payment process is even easier! Clicking on the pay now
link takes the customer to a payment page which is personalized with their own payment details – all they need to do is enter their credit card information.
Customers receive a Payment Link and can click it anytime to Pay Now
:
- The link takes them to a Payment Page with their own payment information
- All they need to do is enter their credit card information!
As a mobile optimized payment application, customers using iOS devices can also scan their credit card instead of having to enter the credit card number, making this method quick and effortless for the customers.
Why Use Payment Links?
Payment links makes it easier and more secure for customers to pay for your products or services. Plus, it lets you get paid right away!
With payment links, there is no need for businesses to ask their customers to disclose their confidential credit card information over the phone to your staff (which is a PCI security issue and can compromise the card holder credit card data). The entire payment process is secure and safe, both for your customer and for your business.
The only information that is shared between staff and customers is contact information and a payment amount. Customers can review these basic payment details, and enter their credit card information for direct transmission to your payment gateway in a PCI compliant method.
Both your business and your customer receive immediate acknowledgments of the payment!
Payment Links also offer a way to align your business process with new and evolving consumer shopping habits. With payment links, even small merchants who may not have the resources to deploy an online shopping cart, can now offer a way for customers to order and pay remotely for goods and services and enjoy both the convenience and safety of shopping from home.
What Types of Businesses Might Find Payment Links Gives Them an Advantage?
We’ve already mentioned how small, independent merchants, especially in the brick and mortar retail space, can leverage this payment technology to offer services that compete with large online ecommerce sites. Shoppers can connect with them for ordering by phone or email, and then receive a payment link before scheduling a curbside pick-up.
Payment Links is also a great fit for many other business types, that provide services on demand that require a timely payment on short notice either before or after the work is done:
- Accountants and accounting firms can use payment links to facilitate payment of fees for their services, many of which may not require in any person meetings to conduct
- Law Firms and Legal Services can also use payment links to remotely collect fees for a retainer to commence time sensitive work or for services that have already been rendered
- Healthcare Providers can easily collect remote payments for Telemedicine procedures in advance or remind patient’s with outstanding co-payments to pay their balance due
- Professional Services of all kinds where a payment or deposit is required in advance can use payment links to accelerate their acceptance and commencement of remote work with no need to wait for statements and checks in the mail
- Fund Raisers, Charitable Campaigns, can immediately connect with potential donors to accept contributions remotely, and the web portal even lets merchant document the typical contact information that will be needed when processing a charitable receipt
The examples above illustrate just a few of the ways Payment Links can benefit a variety of businesses. Payment Links is a payment channel that can be deployed quickly, easily and cost effectively by businesses of any size and type.
Payment Links offer not just convenience and security for you and your customers, but also provide a way for your organization to both compete effectively and be more responsive to the new shopping demands and expectations of customers today.