Pay By Link

A pay by link is when you send your customer a secure link by either text message or email for them to open securely and pay a balance due in their own time. A pay by link payment is deemed to be a secure payment as the customer is not only entering their own card details but the link has also been sent via their own communication method to an email address or mobile number given by the customer.

The pay by link is usually processed through a virtual terminal. However, at Modern World Business Solutions our very own merchant panel supports PBL in our own unique way.

Our Merchant panel will allow you to brand your own pay by link page in the colours and brand of your business, making the payment experience tailored to your business.

A pay by link is perfect for businesses that need to collect payments from a customer to process orders or to capture additional or timed payments, Takeaways and restaurants utilise the pay by link to capture deposit payments for tables.

All in all a pay by link is a fantastic way to ask your clients to pay by card quickly, securely, and efficiently whilst keeping your brand at the forefront of the payments journey.

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The Benefits of using Pay By Link

Pay by link is a payment method that allows businesses to send a link to their customers via email, SMS, or messaging apps. The customer can click on the link and complete their payment using their preferred payment method. Pay by link offers a number of benefits that make it an attractive payment option for businesses of all sizes. In this article, we will discuss some of the key benefits of using pay by link.

Convenience

One of the biggest benefits of using pay by link is convenience. Pay by link allows customers to pay for their purchases from anywhere, at any time, using their preferred payment method. They don’t have to visit a physical store or remember to bring cash, credit cards or other payment methods with them. This convenience can lead to increased sales, as customers are more likely to complete their purchase if it’s easy and convenient to do so.

Improved Cash Flow

Pay by link also offers benefits for businesses in terms of cash flow. Traditional payment methods like checks and cash can take days or even weeks to clear, which can disrupt a business’s cash flow. With pay by link, payments are processed almost instantly, allowing businesses to receive their funds more quickly and improve their cash flow.

Reduced Costs

Another benefit of pay by link is that it can help businesses reduce their costs. Traditional payment methods like checks and credit cards often come with high fees, which can eat into a business’s profits. With pay by link, the fees are typically lower, allowing businesses to save money on transaction costs and other fees associated with traditional payment methods.

Increased Security

Security is a major concern for businesses that accept payments online. Pay by link offers increased security compared to traditional payment methods like checks and credit cards. With pay by link, the customer’s payment information is encrypted and protected, reducing the risk of fraud and other security breaches.

Increased Sales

Pay by link can also help businesses increase their sales. By offering customers the option to pay by link, businesses can attract new customers who prefer this payment method. Additionally, pay by link can help businesses reduce shopping cart abandonment rates, as customers are more likely to complete their purchase if the payment process is easy and convenient.

Flexibility

Pay by link offers businesses flexibility when it comes to accepting payments. Businesses can send pay by link invoices to customers for a variety of transactions, including one-time payments, recurring payments, and even pre-authorised payments. This flexibility allows businesses to customise their payment options to meet the needs of their customers.

Improved Customer Experience

Finally, pay by link can help businesses improve the overall customer experience. By offering a convenient and easy-to-use payment option, businesses can create a positive impression on their customers. This can lead to increased customer loyalty and repeat business.

In conclusion, pay by link offers a number of benefits for businesses of all sizes. From increased convenience and improved cash flow to reduced costs and increased security, pay by link can help businesses streamline their payment processes and improve their overall customer experience. If you’re looking to improve your payment options and attract new customers, pay by link may be the solution you’ve been looking for.

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Frequently Asked Questions

Frequently asked questions about our pay by link solutions.

What is a pay by link?

A pay by link is a secure link that can be sent via email or SMS to your customer enabling them to make a secure payment.

What is the connectivity for a pay by link?

Pay by link is usually sent via a virtual terminal or a web-based merchant panel, therefore internet connectivity is vital for you to be able to raise the pay by link from most platforms.

How do I send a pay by link?

Pay by link is sent directly from either your Modern World merchant panel or your third-party virtual terminal. You simply put the email or contact number of the person you want to send the link to, and the amount and press send. You will then get a report on when the payment has been made.

Is a pay by link payment secure?

Yes – a pay by link is a very secure way of taking a payment, with added security of 3DS.

What costs are involved in sending a pay by link?

The usual acquiring fees are applied to a pay by link payment. However, you may have additional fees such as a click fee each time the link is opened and SMS batch fees if you are sending your links by SMS message.

Can I brand my pay by link page?

Sure – We can brand your pay by link page with whatever logo that you would like, we can also change the colours of your payment page.

Can I put a pay by link on my invoices?

It depends on what invoicing software you are using to send your invoices, however with our new merchant panel you can send invoices directly from the panel that includes a pay by link on the invoice. Our invoicing also integrates directly with Xero and QuickBooks accounting software.

Can I keep track of my transactions?

Yes, there is a designated area on our merchant platform that delivers reports on all transactions that are sent via the merchant panel. This area will tell you what has been opened, paid, and what has not been. You can also send reminders from here.

Is there a setup fee for pay by link?

There is not usually a setup fee for pay by link services. Unless your business needs a high risk merchant account and then there may be set up fees for this.

What cards will I be able to accept with pay by link?

Pay by links will accept all the major card issuers such as Visa, Mastercard, and American Express. Other issuers are supported also.

Will my high risk business get accepted for pay by link?

Yes, your high risk business is possible to be accepted for a pay by link – the main part of getting approval is to get accepted for your high-risk merchant account first, we can then implement the pay by link software for you on your merchant panel.

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