If you are the business owner or running a successful online store, then you might have heard all about the payment links. Payment links are one of the most excellent features offered by the payment gateway that ease all the work.
It is very beneficial for small business owners who can’t invest much in setting up a website. You might have noticed many Instagram or Facebook stores; the payment links are a go-to guy for such stores. But various myths circled the payment links, such as they are not safe to use.
So if you as a business owner come across all these things, then this blog will clear all your doubts regarding the use of payment links.
Through payment links, merchants can collect bulk payments too.
What Are Payment Links?
It is the way to collect instant payment where merchants share the link with their clients, and the link will redirect customers to the secure payment page. The payment page has multiple payment options, so their client can make payments according to their convenience.
It is one of the fastest mediums to collect payment. Not only for merchants, but it also saves a lot of trouble for clients and customers.
How does Payment Link Work?
Now the question must be rising in your head about the working of payment links. The working of the payment link involves various steps. The first step is where merchants log in to your payment gateway to generate a link. Then after developing the payment link, the merchant shares the link with customers. The link can be shared on social media messaging apps such as Whatsapp, Facebook Messenger, and all.
Once customers get the link, they can click on it. The link will redirect the customers to the secure page; customers can make a payment using their convenient option. Once the price is completed, the merchant will get a successful payment notification.
Are Payment Links Secure?
This is the most debating question as there are many rumors about payment links security. So if you are the one who is a bit hesitant to try payment links, then this section will clear all the air about the same.
Payment links are very much secure. A safe payment gateway is used to defend payment links. In terms of consumer data protection, all payments link providers ensure that their system conforms with federal standards. The applications are compliant using the 3ds standard and the PCI DSS. When a consumer uses mobile banking, it simply adds another layer of protection, such as 2FA, biometrics, and PIN, to safely accept transactions via sharing links.
Not just this, most payment gateways use their own fraudulent and risk monitoring systems in addition to such mandated measures. Such danger prevention and management solutions rely heavily on extensive data & analytics.
Benefits of Having Payment Links
There are many benefits of payment links. Some of them are listed below:
1. Enhance Customers Experience
Collecting payments via URL share meets the needs of an online and offline business because the trader’s smartphone is always available. Payment linkages allow for quick transaction rates and on-the-spot transactions. As a result, the total consumer experience increases, resulting in increased income.
2. Happy Customers
Not only it helps business, but it also brings a significant curve on the customer’s faces. Nothing makes customers happier when they do not have to make any effort for things. Like ordering food and they can pay via mobile. Convenience is luxury for customers, and payment links are offering the same. Using payment links, customers can pay from anywhere without making much effort.
3. Lower Overhead Charges
If you are running an offline store, you must understand that if you have to accept payment via cards, you need to have a device that can process cards, but these links come as a rescuer. Many small and big business owners display their QR codes; all customers scan the code and make payments. It requires so much little to less time while making a transaction. It reduced all the extra cost that involves third party application or payment accepting devices.
4. Customized Message
Today’s customers are more into personalized messages. If a business owner mentions the customer’s name in a message, it will make customers happy, and they are more likely to go shopping from the store. Using payment links, business owners can send customized messages to their clients. Not just this, these links are shareable to any platform. You can send it to Whatsapp or Instagram or via Email; it is your choice.
Tada! That’s all about the payment links and their security. Payment links are an essential part of the business. Not only does it improve the revenue, but it decreases the cart abandonment rate too. It has been proven that payment links minimize the likelihood of partial payments paving the path for increased sales success.