Simplifying Payments with Pay-by-Link: A Seamless Solution for Modern Transactions
What is Pay By Link?
Pay by Link is a dynamic online payment method that simplifies the payment process for businesses and customers. Here are the key steps in the pay-by-link process:
- Generate Payment Link: The merchant uses their payment solution to generate a payment link.
- Share Payment Link: The payment link is shared with the customer through various channels such as email, SMS, or other communication platforms.
- Customer Receives Link: The customer receives the payment link on their preferred communication channel.
- Customer Clicks on Link: The customer clicks on the provided link.
- Redirect to Secure Payment Page: The customer is redirected to a secure payment page where they can complete the transaction.
- Payment Method Selection: The customer can choose from various payment methods, including credit/debit cards, digital wallets, or bank transfers.
- Transaction Confirmation: Once the payment is completed, the merchant receives a notification confirming the transaction.
Benefits of Pay by Link for Merchant
Security
Pay by Link transactions are processed through a secure payment gateway with built-in fraud protection and compliance with standards such as 3DS2 protocol and PCI DSS.
Improved Operations
Reduces overhead costs by eliminating the need for physical point-of-sale card readers and associated fees.
Versatility
Payment links can be shared on various platforms, including social media and messaging apps, allowing for customized promotions and marketing.
Customization
Merchants can set up flexible payment plans, enabling customers to pay in installments.
Reduced Customer Churn
Provides a seamless customer experience with flexible payment options, leading to increased customer satisfaction and loyalty.
Ease of Use
Customers do not need to download additional apps and can quickly complete transactions without entering card details each time.
Built-in Compliance
Payment link service providers adhere to data security standards, ensuring compliance with relevant legislation.
Payment Portability
Customers can make payments from any location and device, providing convenience and accessibility.
