How does Pay by Link work?
Pay by Link is a payment solution that allows the entire remote payment process to be digitized. This secure link, initiated by the merchant and sent to the customer, is associated with a payment page, allowing the customer to pay their dues online.
There are 2 types of payment links:
- Unique link for a specific payer, for the payment of a specific invoice
- Non-specific link, intended for multiple payers
Pay by Link in 8 steps
Broken down into 8 specific steps, a payment received by link can be made in just a few seconds:
- Link generation by the merchant
- Sending the link via the appropriate communication channel
- Customer receives link
- Opening the link
- Displaying the payment page associated with the link
- Making the payment
- Confirmation of payment to the customer
- Confirmation of payment to the merchant
Multiple channels for sending payment links
Flexible, secure, and able to be addressed to customers in a variety of ways, Pay by Link adapts to the various checkout processes and experiences desired by merchants. All use cases are possible!
Payment link by email
Pay by Link, a preferred delivery method for corporate financial services, allows them to generate a link and send it to the customer by email. This clickable link is linked to a payment page, allowing payment to be completed in just a few clicks.
SMS payment link
Capitalizing on the popularity and speed of text messages, merchants can generate and send an SMS containing a unique link to make payment possible directly on the customer’s smartphone.
Payment link by QR Code
A payment link can be associated with a QR Code (on a paper invoice, on a physical medium, on a screen, etc.), which the customer can scan using their smartphone before easily completing the transaction.
Payment link by URL
Merchants can also generate unique links, which can be shared via their URLs through various channels (social media messaging, PDF invoices, etc.). This approach allows for seamless integration of links into online marketing and sales strategies.
What are the advantages of Pay by Link for a merchant?
With this so-called “contextual” payment solution, merchants are able to claim payment due, while digitizing and optimizing their customer payment processes, from A to Z.
Vous êtes une entreprise et vous encaissez des paiements à distance ? Le Pay by Link est fait pour vous :
Boost your conversion rate : By adapting to your customers’ habits and reaching them where they are, at the right time (smartphone, computer, email, etc.), you limit the risk of delaying payment. Generally, Pay by Link tends to reduce the average payment time as well as the number of unpaid invoices.
You offer your customers the possibility of paying as they wish : Whether by credit card, transfer, direct debit or in installments, this versatility improves the payment experience and has a strong impact on customer satisfaction and loyalty.
You facilitate lettering, monitoring and reconciliation : Each payment link generated is referenced, you are able to track the status of payments in real time, simply reconcile incoming payments with issued invoices, be alerted if necessary and generate complete accounting exports so that financial management becomes child’s play.
Reduce your costs : Economical for merchants, Pay by Link allows you to replace physical payment terminals and the associated costs. Since the use of payment links also promotes the operation and performance of accounting departments, it is recognized that its use can reduce management and processing costs.
You guarantee an increased level of security : Enhanced with robust encryption protocols aimed at protecting sensitive customer information, payment links ensure secure online payment processes, in order to combat fraud.
Pay by Link with CentralPay
To address the multiple challenges of invoice payment and debt collection affecting many French businesses, CentralPay has developed a Pay by Link service to generate and send links for remote payments. This service can be integrated into your platform via API or without any development from the CentralPay back office.
To do this, nothing could be simpler:
- From the back office, you start creating a link by entering the amount, the authorized payment methods (bank card, transfer, etc.) and your internal reference (purchase order, quote, invoice, etc.).
- You select the method for sending the payment link (email, SMS, URL generation, etc.) and, in which case, the customer’s contact details (surname, first name, email address, telephone number, etc.).
- You customize the appearance of your associated payment page (text content, logo, colors, etc.).
Afterwards :
- In the case of a payment link by email or SMS, you configure the desired automation services (sending date, potential reminders, notifications, etc.) and save.
- In the case of a QR Code link, you generate the barcode and insert it on the desired media.
- In the case of a URL link, you generate the clickable link and integrate it on the desired media.
With Pay by Link you digitize your customer payment collection process, optimize the Order-to-Cash process and automate your processing chain (monitoring, reconciliation, etc.).
