Payment links, also known as payment URLs, Pay by Link or checkout links, are web links that enable businesses and individuals to request payments from customers or clients. These links are typically used in online and mobile payment systems to simplify the process of collecting payments. Payment links are a convenient way to receive payments without the need for a traditional point-of-sale terminal or an e-commerce website.
The payments landscape continues to evolve rapidly, and there are now more and more ways to accept secure payments, from in-person card payments on a device to traditional bank transfers and secure online checkouts.
Here are 5 steps to creating a payment link:
There are a number of benefits with Payment Links which include:
Who are Payment Links for?
Payment links (Pay by Link) are designed to be simple and easy to use. They offer businesses of all types and sizes an easy, secure, and fast way to send a payment request and allow customers to complete the purchase by clicking the link they receive on an invoice, via email, social media (e.g WhatsApp and Messenger), SMS and more.
Pay by Link is particularly useful for:
Businesses that don’t have easy online payment infrastructure i.e a website or an online checkout page: Small business, entrepreneurs or larger businesses that typically work offline and don’t yet have an e-commerce website, or integration with a third party payments provider, and are new to taking payments online.
B2B business services who want to offer alternative payment options to their customers: Pay by Link can be added to an invoice, to an email or sent via WhatsApp alongside other payment options. Even if you already have credit card Payment Links. You can add Pay by Bank Payment Links and save a huge amount on transaction fees.
Businesses that sell via specific channels: services, retailers and independent traders that sell via email, chat, SMS, social media, chatbots and even over the phone.
Businesses that don’t have card processing hardware, but want to take payments. For example bespoke professional services, Pop-up shops, specialist traders, builders’ merchants, charities, personal trainers, therapists and other entrepreneurs.
Many payment processing companies and financial institutions offer payment link services, and they may come with different features and pricing structures. Rvvup offers Pay by Link for cards as well as Pay by Bank which can save customers as much as 80% on transaction fees.
It’s important to note that specific features and capabilities of payment links may vary depending on the service provider and the country or region in which they are used.