A payment link is a quick and efficient way to request payments from customers who are paying for goods or services outside of the traditional online store purchase. It is a ‘Pay Now’ or ‘Pay Invoice’ button sent to your customers via email. Once the button is clicked by the customer, they are taken to a payment page showing the amount due. They can securely fill in billing and shipping information and the process is complete.
Taking card payments over the phone can be time-consuming, especially for small businesses with minimal resource. Sending a payment link frees up your time.
Payment links provide you with an effective way of chasing overdue accounts and provide a quick, easy and simple payment method for your customers.
There are many benefits of using payment links, such as:
Easy method of payment
Having a payment link makes it easier for your customers to pay you because even when paying with a payment link, customers can choose from a broad range of payment methods and currencies. If a customer has previously paid using the payment link, the page will already be pre-populated with their billing and shipping information so all they must do is click ‘Pay Now’. The payment link is also mobile-optimised, so it’s easy to navigate even when opened on a mobile.
Easy to collect the payments
It requires minimal IT work to create your payment link and customise the payment page with your own branding. It could also reduce the burden on your finance or accounting department and save them time processing checks if more payments are made by credit card.
Collect payments faster
Adding a ‘Pay Now’ button to an electronic invoice encourages customers to pay immediately, and by a method other than a paper cheque. Not only does paying by card speed up the payment process, it also tells you immediately if the funds are available. If not, you can display an error message that directs the customer to try another card which resolves the issue straight away. It also makes it easier for you to issue refunds quicker if necessary.
How to set it up
Payment links are quick and easy to set up, and they are also available for use immediately. You need little to no technical knowledge to create a payment link and you can create a payment link for a single customer or make it reusable for all customers. All your customers need to do is click it and enter their card details!
Find out more about Card Saver’s pay by link service here.