What are Payment Links: An easy way to accept payment online
There are many options for merchants to request payments from customers for a product or service. Having an online store is one of them, in addition to other methods such as bank transfer, cheques, digital wallets, and of course cash. With most payment transactions across the MENA still taking place offline, there are plenty of opportunities for payment methods to take a market share.
What is a payment link?
A Payment Link is a way for merchants to request payment from customers remotely in a secure way. In other words, a “Payment Request” link is sent to customers via email, text message or WhatsApp for example. The link directs customers to a landing page for payment displaying the required amount, merchant information, and the payment options such as credit card and Apple Pay, where as customers complete the payment and complete the process.
Who is the payment link used by?
The payment links are typically used by different business for multiple use cases:
- Merchants providing goods and products with delivery services without having an e-commerce store or with partial non-online services. Such merchants use payment links to request payment from their customer before delivery and collect before dispatch.
- Social media stores: Facebook and instagram stores are becoming more popular, and using payment links is an ideal way for such merchants to send payment requests while chatting with customers in a secure way.
- Freelancers: regardless of the customer acquisition channel, freelancers use payment links to collect from their customers quickly and efficiently compared to using cheques or bank transfers especially since the work is usually remote and often digital
- B2B merchants: service companies for example dealing with other companies typically prefer to send payment links attached to their invoice to avoid the delays in bank transfers and the inconvenience of cheques.
Advantages of using payment links
Payment links are not new, but their use has been accelerated by the preference of customers to avoid cash and also trust on online payment methods.
- Convenient and easy way to collect payment from customers, as the customer can make the payment through the smartphone without needing any installed mobile applications
- Multiple payment options are available in the received links, such as credit cards, Apple Pay, Google Pay, Knet, Mada and others.
- The option for saving customer data for repeat customers, where certain fields can be prefilled to speed up the payment
- Merchants can usually issue links very easily, entering simple customer information to send a payment request
Paymennt.com payment app allows merchants to send payment links to customers in a secure and efficient manner, and guarantee payment before delivery or services or products. Merchants can use the Paymennt app to send payment links via email, text message or WhatsApp according to their preferences, with the paid amounts being settled directly to their bank accounts.
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