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Payments links are a method where a merchant sends an e-mail or a web link with an option to “Pay Now” or “Pay Later” (set expiry date). When customers click the payment link, a payment page is opened depending on the type of payment link. Sometimes, the amount is predefined; alternatively, the customer has to enter the amount as per their transactions. They need to fill in their basic details and process the transactions. 

Types of Payment Links

  1. Request Pay: Request to Pay is a type of "pull payment" in which a payee requests a specific payment from the payer. It is a message service designed to support the current payment infrastructure, allowing billers to request payment. 
  2. Bill Pay: A bill payment link is an online payment method where a request for online payment is generated and shared by the merchant to the customer to make instant online payments. 
  3. Invoice Links:  An invoice is a digital document that summarizes a transaction or purchase, allowing customers to view the overall details of the payments. The merchant sends it to their customers. The invoice contains details of the merchant or customer, the description and price of the product, and tax and discount details. Digital invoices enable you to send invoices quickly, receive payments faster due to faster processing time, and help to reduce errors.

Payments links are a method where a merchant sends an e-mail or a web link with an option to “Pay Now” or “Pay Later” (set expiry date). When customers click the payment link, a payment page is opened depending on the type of payment link. Sometimes, the amount is predefined; the customer must enter the amount per their transactions. They need to fill in their basic details and process the transactions. 

 Benefits of using Payment Links

  1. Convenience: These days, customers prefer making payments in the comfort of their homes and prefer quick and safe payment modes. Payment links provide customers with the flexibility to choose their preferred mode of payment to complete the transactions. Safe and Secure Transactions: Customers are very cautious while making payments online as the risk of fraud is very high. However, when they receive a payment link from a reputed payment solution, they feel trust and security while making the transactions. For instance: Auropay is PCI DSS compliant and is equipped with security standards. So when the payment link is sent, it is secured, and when the transaction is complete, the consumer will get an official notification. Payment Links can simulate cash-on-delivery. When the services or goods are delivered, you can take online payments. You may give your customers a sense of security and an option for online payments in this way. 
  2. Time-Saving: Sending payment links is time-saving as they are quick, and no need to stand in long queues and appoint administrative staff to collect payments. By sending the payment links, you do not have to wait for customers for bank transfers. Instead, sending links and paying immediately for the expenses benefit the merchant.
  3. Multiple Payment Method: Payment connections offer a smooth checkout process with all popular payment options. Auropay, for instance, accepts different payment methods, such as net banking, UPI, e-Wallets, and credit and debit cards.
  4. Easy Tracking: Merchants can track all the transactions that have occurred via the dashboard. Through the dashboard, merchants can view how many customers have initiated payment using which mode of payment. Through Auropay, merchants can view the payment trends in a line graph to understand how transactions occur.
  1. Schools and College Institutes: If educational institutes want to collect fees such as examination fees, school fees, annual day fees, and sports event fees. In such scenarios, they can easily send the payment links via their preferred channels and accept online payments. 
  2. MSMEs: MSMEs want to collect B2B payments via vendors and clients. In this case, sending payment links with an expiry date is a safe and convenient option to accept payments faster.
  3. Healthcare Facilities: If healthcare facilities want to collect visiting fees, blood test expenses, and other types of bills, they can send payment links to their customers and accept payments. 

Accept Payments simpler, faster, and digitally with Auropay

Customers are often busy and need more time in their daily lives. Cash payments and money transfers are now time-consuming procedures. Streamlining this process with “payment links” will benefit merchants. AuroPay offers a platform where you can send payment links at your convenience to your customers and simplify the process of collecting payments efficiently.  

Go check out our other blogs on the Payments Industry.