In today’s evolving e-commerce markets, making payments should be all about convenience, security, and speed. Over the years, payment systems evolved from cash to cards to digital payments and each development is more convenient and advanced than before. But one important method that is increasingly gaining popularity and traction is the use of Payment links. Here are some of the main benefits of utilizing payment links for your revenue collection.
Reduced Processing time:
The advantage of payment links for the merchant is that they no longer need to meet customers for payment or wait for a bank transfer, especially for smaller amounts. They can simply create a link customized with the details of the purchased items and the requested amount, then the customers can follow through with the payment in their own time. Upon successful payment, the finds are automatically transferred to the merchants reducing the hassle and avoiding cash altogether.
Reduce overhead costs:
Furthermore, accepting payments via link cancels out the need for any payment devices like POS terminals or other third-party applications, which in turn, avoids cost for setup fees and ongoing maintenance. Several apps such as The PayLink operate under a “pay as you go” model in which merchants have no signup or monthly fees, only a per-transaction fee according to the use. This makes the barrier to start much lower, especially for merchants with low volumes or who require card payment for only a fraction of their sales.
Enhanced Customer Experience:
Payment links can be shared on any social media or messaging platform, which allows merchants to customize the purchase with a message to thank customers or promote other products, and personalize the purchase. Moreover, Payment links offer customers the flexibility to pay from wherever they want with their preferred payment option. Thus, it improves the overall purchase experience and can be used to build a loyal customer base.
PointCheckout payment gateway has joined in the trend and recently launched The PayLink, a payment link app for merchants to request payment from customers in a secure and efficient manner, and guarantee payment before delivery or services or products.