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Why a business should accept pay by link

Are you making the payment process as quick and simple as possible for your customers? Pay by links could be the solution you’re looking for.

Why? Well, it’s easy to manage and track for the merchant and allows the customer the flexibility they desire making it a really efficient way to convert. With so much competition out there and distractions to deter your customers away, being able to offer them a payment method that’s incredibly fast and frictionless is a sure way to truly get them onboard.

But what is a pay by link? To put it simply, a pay by link is a link sent directly to a customer that will take them to a checkout page so they can easily make a payment at a time that suits them. It’s that simple!

Still not convinced? Let’s explore the reasons why a business should accept pay by links.

Who uses pay by links?

Anyone! Any business can utilise payment links. Its versatility and customisable features make it the ideal payment method for any type of business to increase its conversion rates. But let’s take a look at some examples of the main business types that use pay by links.

Companies without a website

If you’re just starting out and don’t yet have a website, or if a website isn’t suitable for your business model, such as a food van or mobile beautician, then pay by links are a great option for you. When a customer needs to make a payment and they aren’t there in person or if you don’t yet have a card machine, this method is the quickest and simplest way to collect that bill.

SMS marketing

Is SMS marketing a big part of your brand? If you’re utilising your contact list for sales and marketing, why not use it to collect payments too?

Payment collectors

For any business that has a high volume of payments to collect and multiple customer segments, being able to send out pay by links could become your saviour. You can automate the process and send out links in bulk to increase your collection rates.

Companies that take payments over the phone

Does your customer service team often take payments over the phone? Manually taking card details can come with security risks, that’s why sending a payment link while you’re on the phone is much more secure and can put the customer at ease. They're also more likely to have their phone on them than a debit/credit card, so can easily use their mobile wallet or stored data if they’re a returning customer to make the payment.

Quote from Hanover Insolvency

How can pay by link help me sell more?

Other payment methods are just as important to gain a successful conversion whether you sell online or face-to-face. But if you’re still struggling to collect payments on time, adding payment links to your offering can just be the ticket to move those transactions over the line.

But why? Let’s take a look at the perks!

Reasons why your business should be using payment links

  • Versatile – You can add multiple payment methods, like Apple Pay and Google Pay, as well as amend the currency so that the customer can pay with their preferred method. You can also send them via multiple channels, such as email, social media and SMS. The added flexibility means they are suitable for any business and greatly improve the customer experience.
  • Trackable  - Via an integrated processing platform, like Total Processing, you can track the status of your payment links so you can plan an efficient strategy to collect the funds.
  • Secure – Payment links are just as safe as any other payment method. They are sent via a secure gateway and use the same authentication processes, including 3D Secure 2.0, protecting both the merchant and the customer.
  • Customisable – Pay by links can be customised in a few ways. For example, they can be branded with your business’s logo and the checkout page can be designed similarly to your usual style as an extension of your website to help gain a customer’s trust. You can even add a little thank you message or promote another product.
  • Convenient – They are really convenient for both the merchant and the customer. The merchant can bulk send the links to customer segments and can automate the process, saving so much time. As a mobile-friendly option, on top of the previously mentioned versatile features, the customer can easily choose to pay when and how they want. If they’re a returning customer and opted to have their details saved, a quick pay now button is all they’ll have to click. It’s a win-win all round!
  • Lower overhead costs – Pay by links can be a cheaper way to receive payments compared to other methods. For example, if you use card readers there will be a cost to either hire or buy the POS.
  • Global payments – These links can be sent all over the world. So if you’re an international company, or that’s the aim, accepting global payments by pay link is well worth considering.

Alternatives to pay by link

There are many ways you can collect payments these days, and some will be more suited to your business than others. Here are some alternatives that you can use as well as pay by links.

An example of social commerce via a social shopfront.
  • Point of sale - The more traditional payment method, and the most common for face-to-face transactions, is via a point of sale (POS), also known as a card reader or card machine. Most consumers will be used to this method making it a trusted and easy option.
  • Online checkout – If you sell online via a checkout page on your website, then offering a range of alternative payment methods, like Apple Pay and Google Pay, as well as the more traditional debit and credit cards, is the go-to option across all industries, especially e-commerce.
  • Social media shopfronts – If you want to embrace the upcoming methods to attract the younger generation, there’s social commerce where you can integrate a checkout page into your social media accounts.

If you want to truly offer your customers the freedom to pay how they want to increase your conversion, depending on your business modal, why not implement all payment options?

How to find a good pay by link service provider for my business

When looking for a pay by link UK provider, there are a few things you may want to consider:

  • Are they easy to manage?
  • Will there be in-depth transaction data?
  • Can I see real-time status updates?
  • Are the payment links secure?
  • Do you offer more processing capabilities?

At Total Processing, we can offer you the whole package. Thanks to our Total Control platform, you can add, amend, track and report on all types of payments, including pay by links.

Check out our pay by link page for more information on this solution, or get in touch to speak to one of our specialists.

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