by Je Yaranon on August 2021
It’s always fun to see technology evolve. It's where we see human creativity digging deep, expanding things that we thought have already peaked.
Much like cars, computers, and whatnot, such is in full display in digital payments. First, there were cards and ATMs, then came online payments, then QR codes, then payment apps that involved a couple of more breakthroughs, and so on. Every step forward combined a few things from the past and made it simpler.
Among the most interesting in that whole cycle is the emergence of payment links. It’s very promising to say the least, and it may very well help encourage more people to start a business.
What are payment links, and how does it work?
Payment links are an online payment method wherein merchants, through a payment provider, are able to generate and send unique links to customers to proceed with the transaction. The URL (Uniform Resource Locator) redirects the customer into a payment form where they can see the order summary and send the payment through their method of choosing.
What does it bring? Here some of the top aspects:
While it may look sketchy given that it’s an online link, the best payment link solutions are generated from a secured payment gateway. It uses solid protection through a complex encryption that shields data against various cyberattacks.
Convenience for all parties
Unlike standard methods that require a lot, payment links are just standard clickable URLs that redirect users into a payment form. Merchants can share the link through various platforms (SMS, email, and chat), and customers will be able to access the form without downloading or registering anywhere.
Flexibility in payment options
Payment flexibility is vital in digital payments, and since payment links are built like standard checkout pages (minus all the requirements), the variety in methods are present. With VeritasPay’s own version of the solution, VeritasPay EasyLink, customers can choose various payment methods.
Since payment links are sent through various channels like an everyday text, chat, or email, the link can be accompanied by a marketing copy, one that would allow you to upsell or notify customers about your chosen products or other offers.
With payment links, customers can pay more freely: it doesn’t require them to send the payment on-the-spot. The links are also unique, specified to a particular transaction that’s pretty much set already. All it needs is the payment, and it’s expiration date isn’t too soon.
How can it produce more online sellers?
The pandemic has turned the majority into online sellers, and since we’re still fighting through the tough climate, it will only continue to grow as more people get influenced.
You might be wondering: how can it be better than mobile payments and bank transfers, where payment confirmations are also instant? It can come down to what payment links can really provide overall.
Online sellers lean on social media to sell products and services, and it’s not entirely because it has reliable platforms. Most of them have a modest capital and are not able to buy website domains and build a full-fledged online store.
That’s where payment links can come in and provide a lift. With such a solution, ‘website-less’ online sellers will basically have something that actual e-commerce stores have: a checkout page. It’s just as capable too as it can accept credit cards. That’s a good upgrade in legitimacy.
As VeritasPay continues to provide high-quality payment solutions and promote cashless transactions, the company is also dedicated in bringing in fresh and informative content. We’ll be continuing to share new articles about our products, services, and varying subjects within the industry as we move forward.
Contact us here to know more.