Payment links are a powerful business tool that Accountants and Accounting firms can use to quickly and securely accept payments from their clients remotely. They are easy to deploy because they don’t require clients to log into a website and they can pay from the convenience of their mobile phone or computer web browser instantly. Clients can make a payment to you from any remote location using credit cards or debit cards while all credit card information is protected as per the latest PCI Standards.
What Are Payment Links?
Payment Links is a technology that accountants and accounting firms can employ to quickly and securely send their clients a request to pay for services and receive payment quickly and securely without ever touching their clients credit card information. Each payment link is personalized so the client does not have to enter any information other than their credit card. The account information and amount are already pre-coded in the payment link.
Payment Links are exceptionally useful in today’s business environment as a way of coping with business restrictions and social distancing mandates that have been implemented due to the ongoing global pandemic.
Accounting professionals have had their own unique challenges to adapt to since the onset of the pandemic. These include forgoing in-person meetings with colleagues and clients in favor of increased video conferencing. Audits are another function that typically used to take place on site but have now had to rely more and more on digital technology that has brought with it new concerns regarding security, accessibility and transparency.
In addition, as with other types of businesses, accounting professionals have had to adapt to or expand upon alternate strategies for ensuring that they are paid in a timely and secure manner for their services. Payment Links is a payment channel that can be deployed quickly, easily and cost effectively whether you are a sole practitioner, or a small, medium or large-sized firm.
Because Accounting firms often provide services on demand that require a timely payment on short notice either before or after the work is done, they can use payment links to facilitate payment of fees for their services, many of which may not require in any person meetings to conduct, – an especially useful feature in a time of business lockdowns and social distancing.
How Do Payment Links Work?
Payment Links are simple and straightforward to use for both you and the client. All you need to do is enter a payment amount and a client reference identifier (such as an invoice number, statement number, etc.), and then add the client’s contact details, such as email and a mobile number. The client immediately receives a personalized link where s/he can
pay now. All that is then required of the client is that they verify the information and make the payment using their credit card. Both you and your client then receive immediate payment confirmation.
All you have to do is simply log-in to your merchant portal and:
- Enter the Client’s Payment Amount and their customer reference identifier
- Add the Client’s Contact information for where to send their payment link
The Payment Link is instantly sent to the customer via email, TXT message or both!
Payment Links benefit clients in that they are easy to use and secure, and it also benefits you in the form of timely fee payments for services already rendered and/or deposits or retainers for services that will be performed in the future.
With payment links, there is no need to ask clients to disclose their confidential credit card information over the phone (which is a PCI security issue and can compromise the card holder credit card data). The only information that you and/or your staff need to share with your clients is their contact information and a payment amount. Clients can review these basic payment details, and enter their credit card information for direct transmission to your payment gateway in a PCI compliant method. The entire payment process is safe, safe, fast and convenient for both parties.
Payment Links are not only convenient and secure, they also enable you to manage your practice and collect your fees while all the while adhering to social distancing mandates, as well as the changing demands and priorities of your clients.
Learn More About Datatel Power Payment Links