If you have ever used an app from Starbucks, Target. or McDonald’s, you have used a payment link to pay for your purchases. On a retail app like a fast-food purchase, the link is disguised as a “Pay Now” button. Behind the scenes, that Pay Now button facilitates payment to the merchant by offering up your credit card details to pay for your purchase. We all enjoy the convenience of the proverbial – “set it & forget it” concept. Enter your credit card details into an app one-time or pay any bill or make a payment through your phone, laptop, tablet or desktop and your card information is stored for future use with a single click. That’s a payment link in its simplest, easy-to-understand form.
Looking at it from a merchant point of view, the most important aspect of your business is getting paid for your services or merchandise. Making it easy and efficient for your customers to pay you can increase sales, drive repeat business, and get you paid 40% faster when your customer simply taps a link to pay you. Have you ever bought something from Amazon because you knew how quick and easy the shopping experience would be – even though you could probably buy cheaper somewhere else? We’ve all done it. We love convenience. Customers are willing to pay more for convenience. Just ask Starbuck’s who enjoys tremendous loyalty for overpriced coffee simply because they provide convenience with their order ahead, pay ahead app. The most difficult part of the buying experience with Starbucks is driving to pick-up your coffee. The payment experience should be easy. Payment links are invaluable. They save time. Payment links are a great option for collecting money on invoices and statements quickly and easily. So how do they work?
To translate this into a business case for our moving and storage clients; have you ever wanted to send your customer a link to make a deposit for a future moving job? Have you ever experienced a skeptical customer when requesting they provide their credit card information over the telephone? There are a handful of payment links that you can provide to your clients to streamline payment acceptance while offering your customer the convenience of paying via a payment link.
What is a payment link?
A payment link is a way to request payment from customers who are paying for your goods or services instead of using a credit card terminal or virtual terminal to run the card. Invoices include a “Pay Now” or “Pay Invoice” button. Invoices can be emailed or sent by text message. The customer clicks the payment button and they’re taken to a payment page showing the amount due and options to pay. They can securely pay on a one-time basis or store their credit card in an online vault for future payments.
Additionally, you can add a payment link to your website allowing your customers to initiate payments directly from your website without increasing your scope of PCI compliance.
Who would use payment links?
If you send estimate, invoices or statements to your customers, you can easily embed payment links into your documents. You will find that on average your invoices will be paid 40% sooner because people click the payment link the moment they receive your invoice. 95% of all text messages are read within 3 minutes from receipt. That gives you an idea of how fast you could be paid with a payment link.
While working remotely at an event, you can email or text a customer a payment link and be paid on the spot from their mobile phone.
Benefits of Payment Links
The biggest benefit of a payment link is making it easier for customers to pay. Payment links provide a broad range of payment methods. For customers who have previously provided payment information, the payment page will be pre-populated with billing and shipping information just like Amazon does. All your customer has to do it click “Pay Now.” Adding a “Pay Now” button to an electronic invoice encourages customers to pay immediately. It speeds up the payment process.
We Make it Easy
Remedy Payment Solutions can create payment links for your business and even customize the payment page with your own branding. Using payment links reduces the workload of your accounting department and saves time.
Ready to Implement Payment Links?
If we have inspired you to offer your customers the convenience of payment links, give us a call. Our team is ready to implement payment links for you today. Call us at 714-461-2200 or email us at info@remedypayments.com.
Remedy Payment Solutions is powered by Chosen Payments whom is a registered ISO and FSP of Wells Fargo Bank, N.A., Concord, CA and BBVA USA, Birmingham, AL., and Elavon, Inc., N.A., Atlanta, GA and Evolve Bank & Trust; Memphis, TN., and Merrick Bank, N.A., Draper, UT.