Payment Link Benefits: Know Why You Should Start Using These

Collection of payments has become super modernized in the last few years. Once, consumers could hardly imagine anything beyond cash to pay the merchants; however, payments became simplified, and the method of asking for payment became even simpler. Payment link is one of the latest ways of asking for payment in a simple way, and it comes with a handful of benefits.

Are you ready to unlock the benefits of payment links?

What Is A Payment Link?

Payment links are clickable links through which one can collect payment very easily and quickly from anyone. It is sometimes given as a simple URL. If needed, it can be embedded in a button as well as a QR code. The choice of it solely depends on the merchants.

How Do Payment Links Work?

Let us first understand the workflow of the payment links before jumping on to the benefits:

1. Integrate the payment solution with the billing system, website, or app
2. Add the amounts manually or by scanning the barcodes, or keep the amount undefined (for donations) (during online purchase, subtotal is calculated automatically)
3. Request a payment link
4. Share the generated payment link through SMS, messenger, email, social media, e-invoices, etc. 
5. Customer receives the link and clicks on it
6. Payment options come up
7. Payment option selected from the given list
8. Payment made

It may look like an eight-step process; however, it happens within a few seconds only. It is simple – merchant generates and sends it to the customer. Customers just click on it and makes the payment.

How Does Payment Link Benefit A Business?

As mentioned before, a payment link comes with extensive benefits not just for the merchants but also for the customer. The following section explains how a payment link benefits everyone. 

1. Easy To Pay

On clicking a payment link, a customer lands on the payment methods. Here, they get multiple payment methods like UPI, Net-banking, wallet, cards, etc. So, it becomes easy to pay any amount by clicking on a payment link.

2. Pocket-Friendly

Payment links feel lighter on the pockets, especially the merchants who cannot afford a complete payment solution. They can easily integrate payment links in their website or app and brick-and-mortar stores. It is a very affordable yet handy solution to offer complete payment ease to the customers. Merchants do not even require a POS to generate or send payment links to their customers.

3. Not Techy

Payment links are completely non-tech solutions. Merchants who want to send payment links to collect payments from their customers are not required to have any coding, designing, or high-end development skills. They can continue to conduct their business the way they do.

Once payment links are integrated, they can generate and share a payment link during checkouts or billing. During offline shopping, payment links will be integrated with the billing system, and the person at the billing counter will add the products and get the subtotal. Then, they will request a payment link for the payable amount and send it to the customer.

4. Secure

The links sent to the customers are always HTTPS, so security is guaranteed. The customers can pay without worrying about any payment frauds. At the same time, the merchants will get fraud prevention and data protection for further security.

5. Less Time Consuming

In order to create a payment link, there is no need to put in any extra effort or time. Rather, it needs only a single click to get a payment link.

6. Real-Time Payment Tracking

Another benefit of payment link is it helps in real-time payment tracking. As the customers keep paying the merchants, the transaction records get stored in the dashboard one by one. So, merchants can have a look at it at any point.

7. Easy Communication With Consumers

To send a payment link, no matter after online shopping or offline shopping, a merchant needs to have the updated contact details of the customer. As a result, it becomes easier for that merchant to send further promotional offers and other information to them. It makes the customers aware of what’s new in your stores and brings conversions gradually.

Who Should Start Using The Payment Links Immediately?

Payment links are for anyone – these are capable of benefitting everyone from any sector. It is best for merchants looking for an updated yet affordable payment solution instead of a complete one. Here are some use cases of payment links:

• Freelancers
• Small to medium-scale merchants
• B2B companies – vendors, suppliers, etc.
• Merchants with no website
• Merchants who sell through different channels
• Fundraisers or crowdfunding companies

Alternatively, they can reach any online payment gateway service provider to get a payment link integration in a budget-friendly way.

Factors To Consider While Picking A Service Provider For Payment Link

Are you looking for a payment service provider to get the option of generating payment links?

Well, that’s great!

But, to make sure you pick the best service provider, you need to keep these few factors in mind:

• Currency support – Does the service provider support the currency you deal with?
• Customer support – How do they assist in case of any sudden issue?
• Customization – Does it offer a customization facility?
• Process of payment link generation – How complicated/simple the process of link creation is?
• Provided payment methods – Which payment methods are there?
• Transaction charges – How much is the cost for each transaction?

PayG Payment Links – The Best Alternative To Cash Payments Benefit All Businesses

PayG Payment Gateway brings the opportunity to create custom payment links to all the merchants. In a nutshell, a it is a handy solution that can bring multi-dimensional benefits to a merchant and the end user. Customers actually look to complete the payment right after completing their purchase, with proper security, of course. Payment link allows exactly the same, and customers get a happy and satisfactory experience overall, which brings them back to the merchants in the future. So, the payment link is an easy-to-use payment solution that benefits a business in diverse ways, and any merchant should grab this facility immediately.