Accepting payment is always associated with fees and processes, especially in the case of on-line or digital payment.
In the world of payment processors and API plugins There’s a lot of IT work to help facilitate the process of making payments.
In the case of operating a small-sized business, everything is complicated and time-consuming.
This is where the payment links enter the picture.
Payment links are easy to build, easy to manage, and don’t require any technical expertise to manage. In short, it’s the most suitable solution for those who want to enhance the experience of making payments.
What is a Payment Link?
The payment hyperlink is an option that allows businesses to solicit as well as allow online transactions without needing to develop an online store or checkout page. Payment links could be an URL, QR code or payment Button which is created and distributed through the sellers.
Payment links can be shared through various channels, such as but not only SMS, email mobile apps, mobile applications, or social messaging platforms like Facebook or WhatsApp.
This gives customers the most flexibility in the way they wish to pay for their purchases, AACH (bank bank account transfer) or digital wallets to debit or credit cards.
Furthermore, the pay links are customizable and can be easily modified to accommodate various settings and preferences, such as numerous line items, customized fields and more..
How Payment Links Function
This is a brief overview of how you can take payments using this method.
1. Set an account for your payments page
Companies can set up payment links when they sign up to the payment processing company ( like Stax) that provides this function. The payment processor will provide you an encrypted payment page on which customers are directed to input their payment details by clicking on the button, link, or QR code.
Based on the service you choose the provider you choose, you could have the option of branding to personalize your site like memos to customers or branding.
2. The customer accepts the transaction.
After you’ve created your payment page and you’re now ready to start transactions and accept payment. Based on your requirements it could be offering services, selling goods or soliciting donations.
The payment link will come in when it’s time to take the money. After the customer has consented for the payment, you are able to proceed to create an online payment link and distribute the URL.
3. In sending the link to pay
Typically, your provider will automatize the payment process to send payment links via SMS or email, and even for regular payments. It is also possible to paste links manually, so that you can insert them into other platforms.
One of the most significant advantages of using payment links is that they offer many ways to distribute them to your customers, based on your type of business. For instance, if you sell your products on Instagram you could simply insert the links in Direct Messages or even on your profile page.
4. The payment is made
When your customer is notified of this link can press or tap the QR Code and be directed directly to your payment page, where they will be able to input the details of their payment. Depending on how the page is set up it could have fields to input information about credit card numbers, ACH information, Apple Pay or Google Pay or Google Pay, etc.
It’s always recommended to choose the payment processor that has digital wallets. This will save your customers moments at points of purchase because they will not having to enter their card information manually.
Payment Links Best Practices
To maximize the effectiveness of your payment link, you should consider applying these best practices:
1. Customize Links for clients
Personalization is essential to improving customer satisfaction and building confidence in the general public. Here are a few strategies to make your website more personal URLs:
- Use custom branding: Use custom branding to include your company’s logo, name and colors on web pages for payment. This not only enhances your brand’s identity, but assures your customers that the transaction on your website is genuine.
- Tailor messages: Include a personal note or memo with the link. For instance, “Thank you for your purchase! Here’s your secure payment link. In just a few clicks, you’ll be finished.” A small gesture will make your customers feel appreciated and increase the probability of making the payment.
- Provide Customized Options: for a smooth payment experience, set up new links to display specific information about your customer like the customized amount due, lists of items or other details, such as due dates. For companies that provide services it could include the description of projects or invoice numbers.
- Follow-up with customers: Following the sending of an email or link, you can send a follow-up message or message to remind the customer in case the payment isn’t made. Make sure that your tone is pleasant and not pushy in order to ensure an effective payment.
2. Always test links for functionality
Links that accept payments work only in the event that they function smoothly. Regular testing makes sure that your links are functional and offer a seamless user experience. Here’s how:
- Review Payment Sites: Test the links to ensure that they send customers to the right secure, active, and safe payment page. Verify for invalid links, errors and broken links that may cause disruption to your payment procedure.
- Simulate the Customer Experience: Experience the checkout process like a real customer would. Examine the entire process from clicking the link through to making the payment to find any issues or friction points blocking a smooth checkout.
- Check across platforms and devices: Links must work to accept payments seamlessly across various devices (desktop and mobile devices, tablets,) or platforms (browsers and apps such as Facebook Messenger, email clients). Make sure they’re mobile-friendly and responsive.
- Monitoring Security: Verify that the page used for payment uses secured protocols, like HTTPS and is compliant to PCI (Payment Card Industry) standards. The likelihood of customers to make an online payment if they feel assured about its security.
- Update Links when Needed: If your company is subject to branding changes, price changes or changes to your services, you should update your links to reflect the modifications. Links that are outdated can cause confusion for customers and lower the rate of success in settling payments.
3. A Clear Communication Regarding Payment Terms
Clarity is vital when making a request to ensure clients are aware of the terms and are comfortable making their payment. Here’s how you can improve the clarity of your communication:
- Include Detailed Information: Include important details such as the amount owed along with the date of payment and an explanation of the item or service. For instance, “Payment for invoice #12345 web design and development services for $500 due on January 31.”
- Set expectations let customers know what they can expect once you have accepted payment. Do they get an invoice, shipment confirmations, or the next steps in the process of service? Set clear expectations for customers and helps build confidence.
- Make sure to highlight multiple payment options: Mention the many payment options that your website accepts, including credit or debit cards or virtual wallets (e.g., Apple Pay, Google Pay), or ACH transfers. The option for customers to choose will make it easier for them to make the transaction.
- Use a simple, jargon-free Language: Avoid technical terms and confusing instructions for making payments. Instead, stick to simple and clear words, like “Click the button below to make your payment in a secure manner.”
- Follow-up on Queries: Respond quickly to customer inquiries or concerns regarding the hyperlink. This shows excellent customer service and decreases the possibility of losing payments.
- Accept Payment Acknowledgement: After a customer has made their payment and received a confirmation email or receipt. This acknowledgement gives them confidence that the transaction went smoothly and positively impacts your company.
Use Cases for Pay Link Action
Links are a fantastic payment option for the following situations:
It’s not possible to take care of lots of sales online: If you’re a business that doesn’t have an site that allows sales, or a small-sized business that typically accepts cash in the flesh, it may not be financially feasible to purchase a complete online payment solution.Links provide an easy and cost-effective way to accept different payment methods.
You can communicate with your clients via a myriad various ways: If you utilize several selling channels as part of your business, linking can be a good alternative to not have redirecting customers to a website they’re not accustomed to. This lets you customize your sales process from beginning to end to specific platforms, like email or social media.
Your numbers show huge fluctuations in troughs and peak: Seasonal product/service providers or non-profit organizations that conduct very few fundraisers each year usually have large fluctuations in the quantity of payouts or transactions they handle. This means it may not be worthwhile including a payment gateway that is permanent on your site.
You’re a service-provider who charges per project base: Professional service companies that send out lots of electronic invoices could find these links more logical than other payment methods because custom payment links may be designed for each client in accordance with their particular requirements.
