Are you using the power of payment buttons to boost sales in your online business? If not, you should. In this article we describe payment links and tell you about their features.
Featured image by Menara Grafis
Today, more and more companies are moving sales online and dispensing with physical shops. Sellers of goods and services offer the customer opportunities to choose a convenient channel for shopping. This is true whether the customer calls on the phone or visits the online shop on the website, via a mobile application, or by way of a company profile on a social network.
Regardless of their choice, the customer can get the same result—a successful order. But for any sales channel, the challenge of the next step—payment for the order—is most relevant.
In addition to more traditional forms of cash and non-cash payment upon receipt, payment buttons for website are gaining popularity today.
How Do Payment Buttons Work?
Payment buttons are essentially URLs that redirect payers to separate secure web pages where they can make a cashless payment.
The mechanics of working with a payment link are as follows:
- You set data about the product or service with a brief description and the price. The application reads the data, creates a virtual invoice, and binds the link to it.
- The payment gateway, which connects your customer’s bank card to your company’s bank account, provides encryption of the payer’s confidential data.
- When clicking on the link, the payer is directed to a secure payment page where they enter their card details.
- The buyer confirms the payment with a unique one-time code. The code is then sent as an SMS message to their mobile phone. This reduces the risk of accidental purchase or payment by fraudsters without the cardholder’s knowledge.
A merchant can create either a universal link for similar products or a unique one-time payment link. For example, there could be separate payment buttons for a single product as well as other buttons for personalized services.
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Let’s Look at Some Examples
Let’s say you’re in the business of selling sewing courses. You can create a universal payment link by setting the parameters of the service name and cost. You can send such a link to all customers or place one on your web page. This is because the service you ‘re providing is conditionally the same with each customer.
However, if you sell unique products and services such as, for example, cakes to order, you can create a one-time link with a limited period of validity. Then you would set personalized parameters for each description.
For example, let’s a customer named John orders a carrot cake from you on April 9, and you set the following service description with a unique link: “Carrot cake, John, 04.09.2024, $20.” By clicking on the description, John is connected with the payment link. In this way, John will be sure that he is paying for precisely his own order.
Why Do You Need Payment Buttons?
Payment buttons represent a universal way to make and receive online payment between a merchant and a consumer. Their main advantage is that you don’t have to create an online shop, hire developers, certify online payment capability, and create a payment page to use it. Payment links can be generated quickly, cheaply and reliably.
An undeniable advantage is the ability to create a personalized link for each customer and limit the validity of the link. This increases payment security and allows you to make personalized offers to your customers.
Payment buttons are especially convenient for those who do not have their own website or online shop. They are also useful for business owners who conduct business on social networks, as well as those who do not have a POS terminal. Addtionally, businesspeople who work on prepayment can benefit from payment buttons. If you want to start selling online but don’t have your own platform, a payment button is the perfect tool for electronic transactions.
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Conclusion
Payment buttons allow businesses to accept online payments without creating a separate digital infrastructure. Their simplicity and speed will attract potential customers and increase customer loyalty.
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