How to Use Payment Links as an Alternative to Point-of-Sale and Invoicing

Accepting payments are an integral part of doing business. After delivering products or services, a business will request the payment from the customer either through an invoice, or in person using a point-of-sale system. Payment links offer a convenient and safe alternative to these traditional systems that make online payments easy for both your customers and you.

As global markets shift towards online transactions, payment links are proving to be an effective solution that makes online transactions easier. Payment links allow small businesses to share quick checkout pages with customers with the tap of a finger. The automatically generated checkout page can be shared in multiple ways: through messaging apps, emails, social media posts etc. All your customer has to do is follow the link to open the simple checkout page and make the payment.

What is a payment link?

A payment link is essentially a brief online invoice or a quick checkout page with a link that allows the customer to pay the business using any of the supported payment methods. A message with the payment link is sent to the customer using any popular messaging app or to their email address.

The payment link is essentially a “pay online” button and provides customers with the ability to simply click on the payment link to securely pay online.

Small businesses that are turning to online sales don't always have a Point-of-Sale system that enables secure online transactions. This is often due to a lack of knowledge behind how payment gateways like PayPal or Stripe operate.

A primary reason behind why customers abandon their carts is a difficult or confusing payment system. A website with an online checkout system isn’t a convenient way to scale your business. If the customer is confused about or unfamiliar with the checkout process, they may choose not to proceed with the transaction.

Payment links are an alternative way of paying online that allows customers to choose between myriad online payment options. Payment gateways like PayPal have been around long enough to garner trust among consumers as well.

To provide customers with a payment link, all a small business needs to do is make use of a payment gateway along with an app that creates payment links. The Paylinks app is a platform that allows small businesses to send shareable payment links from multiple payment gateways. We currently support PayPal, Stripe and Square.

A payment gateway is a service that provides online payment options for both personal and business use. Each gateway has its own way of generating checkout pages and payment integrations. With some payment methods, both the business and the customer have to use the same software or app to transact. This is where the Paylinks app steps in as a platform that eliminates the need for both small businesses and customers to download apps for multiple payment gateways.

Small businesses who don’t want to purchase new Point-of-Sale technology or don’t have the facilities to provide POS payment solutions to customers can turn to payment links. Even if your small business is a pop-up store, you may not have access to a virtual payment terminal.

In this situation, a payment link can be shared with the customer instead. A web URL is sent directly to the customer's email or preferred messaging platform.

From there, customers simply have to open the email or message on their phones, click on the payment link, and choose their preferred mode of online payment.

Why should small businesses choose payment links?

Payment links make sharing invoices and collecting payments easy, secure and seamless.

The Paylinks app has an easy setup process, provides the need for minimum payment gateway app downloads, and allows access to multiple online payment modes. These include credit card, debit card, net banking, and more.

Payment links make the shopping experience stress free and enjoyable for both vendors and customers.

Why small business owners should use payment links to get paid and accept payments

1. Secure and convenient: Security is a valid fear among businesses and customers when it comes to online payments. That’s why most payment gateways and service providers utilize fraud detection and management software. Payment links are safe to use, pose no risk to any of the involved parties, and speed up the transaction process.
2. Customer satisfaction: Online payments are now common. With payment links, your customers can pay your business either by clicking on the link and choosing their preferred online payment method or by using a QR code, depending on the service chosen. There is no hassle involved, and customers don't need to download multiple apps or register separate accounts each time they want to make a payment.
3. Generate and share invoices: Payment Links are sent alongside invoices from merchants to customers. Your small business simply has to provide your customer’s email id or messaging app contact information. A link that contains the required payment amount is generated by Paylnks. The whole process is automated once the required details are entered into the relevant fields.
4. Collect payments instantly: Modes of payment like checks or net banking delay collecting payments. This happens as banks need to process the payment before the amount reaches the merchant. Payment links allow users to transfer money instantly, making both sending and collecting payments easy.
5. Overhead costs: A payment link is an automated process. Every step from generating a link to collecting payment is done through the payment gateway and without the need for human intervention. This frees up time for the finance and accounting department. In fact, small businesses that don’t yet have a separate dedicated accounting department may not need one at all for creating invoices and tracking payments. This helps small businesses save money and allows accounts and sales departments to focus on other aspects of financial management.

The automated payment process is completely secure. The payment gateways supported by Paylinks (i.e., PayPal, Stripe and Square) provide constant customer support as well.

How can you send a payment link to a customer?

To send a payment link to a customer, your small business will first need to register with one of the supported payment gateways. A payment gateway is a platform through which transactions are processed. The process for registering a merchant account depends on the payment gateway you choose, and many of them are streamlined and efficient.

Steps business owners can use to send payment links to customers

• The first step is to set up an account with your preferred payment gateway. The most popular payment gateway is PayPal. However, the transaction fees for businesses tend to be large. Alternatives include Square and Stripe.
• Your account should be registered as a business, and you need to be aware of any transaction fees. Please note that transaction fees may differ based on the country your customer is from. For example, PayPal has different transaction fees for business accounts depending on the currency, the countries between which the exchanges are taking place, and more.
• Then, you can sign up for Paylinks. All you need is an email address.
• You can then add your basic business information, such as the business name and other contact information.
• Then you have to connect your payment gateway to Paylinks. For PayPal, all you have to add is the email address of your PayPal account. For Stripe and Square, you have to add your API keys as specified in the app. This doesn’t take more than a few minutes.
• Once you have set up your account, on your Dashboard you will see the option to create payment links.
• While creating your payment link, you will be asked to input the payment value, and whether the customer is able to adjust this when paying you.
• You can also specify whether this particular payment link is for a limited number of customers or for an unlimited number (i.e., keep accepting payments with a single link).
• Now, share the payment link. You can decide through which medium you want to share the link: through email, sms, social media or even as a QR code that the customer can scan on their phone.
• When the customer clicks on the share payment link, they will be taken to the payment page.
• On the payment page, they can choose how they want to pay. The options here depend on the payment gateway(s) you are using.
• The payments will be processed by your payment gateway, and Paylinks will show you the details of the payments that have been made on your payment links.

The text for a payment link can also be customized with any message you like. This allows a small business to feature other products, expand their sales channel by recommending other purchase options through their payment link via personalized marketing.

Payment links can be shared on social media or through instant messaging. This can generate brand awareness and attract new customers to your business.

All of these features are available on the Paylinks app. The Paylinks app simplifies this whole process by allowing your small business to simultaneously send payment links from multiple payment gateways without the need to download separate apps.

The payment links sent through Paylinks are shareable on messaging apps as well.

About the Paylinks App

The Paylinks app from Hiveage is a platform that allows users to send payment links from popular payment gateways such as PayPal, Stripe and Square. This allows you to accept payments from a multitude of methods such as Visa, MasterCard, Amex, Discover, and various local payment methods.

All a small business owner has to do is download the Paylinks mobile app and then use it to generate a payment link. The payment link is then shared with the customer either on their email or a messaging app. The customer can then pay the business online using an accepted credit card or their preferred mode of online payment.

Paylinks is very cost effective: each payment carries only 1% or $5 (whichever is lower) per payment.

A payment link is a secure and stress-free way to get paid from customers anywhere and at any time. The whole process is automated, so business owners only have to input relevant information into the provided fields to create payment links and get paid. Business owners can create a payment link and reach customers anywhere in the world.

Similarly, customers from anywhere in the world can use their credit card or debit card or other online payment options at checkout.

Small business owners who want to simplify the process of sending shareable payment links to their customers should consider downloading the Paylinks app today.