Detailed Payment Link Explanation:
- Merchant generates a payment link or QR code
- Merchant send it to the customer via message or email
- Customer receives the message and link
- Customer opens the link
- Your customer is taken to an online payment page
- Customer confirms the payment and pays using a digital wallet or card
- Merchant receives a notification for a successful transaction
Benefits of Payment Links for remote businesses:
2020 has brought a lot of changes to consumer behaviour. A key change is the shift from physical storefronts to online storefronts. Having a presence online and the ability to deliver your products / services virtually is becoming increasingly important.
However, the change is not easy. Many businesses are struggling to adapt to remote models. Crucially, payments have become a massive pain point. You cannot receive a payment with your POS through the internet.
And so, Payment Links are the best solution. You can send a link from your phone anytime and anywhere. Your customer / client can also pay in a place and time that suits them. Flexibility is huge benefit of Payment Links. Removing physical restraints on your business also opens up an opportunity for growth in the long run. Taking the time to implement new delivery channels will save you time adapting in the future. Give the best customer experience by using innovative technology.
How to create Payment Links:
Many payment service providers have a similar sign up procedure.
- Make an application.
- Submit compliance documents.
- Receive onboarding confirmation.
- Download the app and log into a Merchant Portal.
- Start receiving payments.
GlobePay’s application process:
Can you send international Payment Links?
Yes! You can send a payment link internationally via Whatsapp, WeChat or email.
Each payment service provider has its own area of expertise. They often cover individual countries or continents. At GlobePay, we specialise in China to UK cross-border payments. So if your customers are Chinese international students, professionals or locals living in the UK, it’s a great idea to use payment links to collect payments.
Are Payment Links popular in China?
Firstly, payment links and QR codes are extremely popular in China. A majority of the urban Chinese population already use QR codes and payment links to make payments online and offline. Importantly, you have to enable popular Chinese gateways so customers can pay once they have opened the payment link.
Lastly, Alipay and WeChat Pay are by far the most popular digital wallets in China. Enabling these two gateways opens up your business to 1.2 billion new global consumers.
Key takeaways:
In conclusion, payment links are a great way to receive payments from international customers. Remote businesses will especially benefit from this new payment method. Not only is it fast and easy, it is also secure since only you have access to your mobile phone.
To find out more about payment links, contact us via info@globepay.co
