Accepting online and digital payments come with lengthy processing and charges. Certain technical platforms or tools are required to facilitate the payment process. These platforms sometimes charge a high amount to operate them. In such cases, the small business owners can not afford them, or it can be difficult and time-consuming.

Merchants always want easy solutions for the convenience of their customers. And for that payment link came through, these payment links are quick to create and easy to use. Managing these links does not need a lot of technical knowledge. 

Currently, it is considered an ideal solution for a better payment experience.

What is a Payment Link?

A payment link is the most effective way to collect online or digital payments. Various platforms in the market provide this feature, and many Bitcoin payment processors provide the advantage of payment links. Any merchant can receive payment for its business or services using these links.

Payment processors back these payment links and are highly secure and reliable. Payment links can be shared via emails, mobile apps, social media, SMS, etc. Merchants can share payment links through URLs, buttons, or QR codes. These links are customizable as per the merchant's needs.

Merchants worldwide can accommodate payment links in their businesses, and their customers can pay for multiple lined-up items at once.

What to Consider Before Going for a Payment Link?

Specific criteria need to be considered before you start accepting payments using a payment link. To integrate the payment link option well with your business, consider some of the following factors.

• Choose a payment link from providers who provide fast response time.

• KYC authentication should be there to keep you safe from fraudulent attacks.

• Research the features of payment links and imply them if they are customer friendly.

• Integrate with a reputed payment processor like Speed, which takes care of customer preferences regarding various payment methods.

• Check out the reliability of payment links with various online platforms like stores and social media. 

• Keep all your transactional data in a well-built Bitcoin payment processor for safety.

These primary factors need to be considered before choosing any payment link. There is no doubt that using payment links simplifies the payment process for merchants and customers, but with some basic research, the process gets more seamless.

How to Accept Payment Using Payment Link?

Accepting payment through the payment link is easy and fast. Multiple Bitcoin payment processors like Speed offer multiple business payment solutions. Also provides a payment link option which is the most convenient due to its simple implementation process.

Let's look at how payment links work.

Step 1: Set up your Payment Page

Payment links can be created by creating an account at payment processors like Speed. The payment provider will bring you to the payment page, where you can follow and enter your payment details via a link, button, or QR code. Merchants can customize their payment links as per their brands.

Step 2: Send the Payment Link

From the payment processor, merchants can share the link on any platform they want, like social media, email, or text messages. Clients can copy-paste the link and drop it into the platform of their choice. 

Step 3: Receive the Payments

Once the customers receive the payment link, they have to click on the link simply, and it will redirect them to the merchant's payment page. Clients can pay in any mode set by the merchant, and then the payment is made, and money gets deposited in the merchant's account.

By following these simple steps, payment gets received. It is always preferable to choose a payment processor like Speed, which provides you with multiple modes of payment.

Features of Payment Link

Payment links have gained popularity due to all the features and custom options it provides. These features help you to have better branding for your business too.

• Merchants can choose their preferable networks, like on-chain or lightning.

• The processor dashboard is multi-purpose, and payments can be tracked through that.

• It shows the currency conversion values in real-time to avoid mistakes in payments.

• There is a custom domain option for your business if you need it.

• With Speed, you can even use your business logo on the payment link for better reach

• Merchants can customize the colors that suit their brand and edit the fonts.

Benefits of Payment Link in Business Growth

Payment links are convenient as they provide secure ways to receive payments. These links are helpful for business growth in many ways; let's look at some of them.

• Merchants migrating towards online sales can easily enable their sales instantly with the help of in-house technical support.

• There are multiple stores that operate through social media, and they can effortlessly make their sale through payment links.

• The payment link lets you choose from various sales channels with a vast approach and integration.

• The long checkout process causes inconvenience to customers, and this has affected retail sales worldwide. Payment links allow you to pay in a few clicks for seamless transactions.

• Most people are concerned about financial security in digital transactions, but with the payment link, it is all sorted. Payment links are secured and also backed by payment processors.

Where to Use Payment Link?

Payment links are used not only for receiving payments but also in various fields, like,

• Crowdfunding campaigns

• Collecting donations worldwide

• As a primary platform for small businesses

• Used for utility services

• For collecting installments and EMIs

• Education institutes can collect bulk fees using payment links 

Payment links offer a low-maintenance solution for making real-time payments easy and convenient for merchants and their customers. With payment links, setting up a business and sales of goods and services can be done immediately online, and the payment settlement is easy too. From service providers to non-profit organizations to E-Commerce owners, everyone benefits by implementing payment links on their platform.