Pay-By Links are one of our clients’ favorite Finli features, as it allows their customers to quickly send custom payments, simplifying transactions for both the merchant and customer.
Main benefits include enhanced convenience, as payments can be made anywhere via digital platforms, increased security through secure payment gateways, and faster transaction processing.
This method also reduces the need for physical payment terminals and simplifies the payment experience, making it ideal for remote transactions, and enhancing customer satisfaction by offering flexible and accessible payment options.
How do Pay-By Links work?
Pay-By Links allowing merchants to generate custom payment links, which they can share with customers through a QR Code, email or SMS message.
When the customer receives the link, they enter a secure payment portal where they can send a custom payment. All they need to do is enter their payment details (like credit card or ACH information) and complete the transaction.
Finli has streamlined the entire payments process, making it a fast and secure way to get paid.
This method is particularly useful for businesses that operate remotely or do not have a physical storefront, facilitating payments securely and efficiently without the need for traditional point-of-sale systems. It works great for nonprofits as well, who are now using Finli to collect donations.
What Are the Benefits of Using Pay-By Links to Collect Payments?
Convenience
Pay-By Links offer unparalleled ease for both customers and businesses. Customers appreciate the simplicity of making payments directly from their smartphones or computers.
For businesses, it streamlines the billing process by integrating it directly into communications, saving time and reducing errors associated with manual payment entry.
Speed
The immediacy with which payment links can be generated and sent, and the rapidity of the payment process itself, enhances business operations.
Customers can complete transactions instantly upon receiving the link, leading to quicker payment turnovers and improved business liquidity. This is particularly advantageous in fast-paced market environments or when dealing with time-sensitive services.
Security
Security is paramount in digital transactions. Pay-By Links ensures that payment data is transmitted securely, utilizing robust encryption standards. This minimizes the risks of data breaches and fraud, giving both customers and businesses peace of mind.
Enhanced security features often include monitoring and alerts for suspicious activities, further safeguarding transaction integrity.
Reduced Costs
Traditional payment systems often involve costly hardware setups such as card readers and maintenance fees, along with transaction fees that can accumulate over time. Pay-By Links cuts these costs significantly by utilizing existing digital infrastructure. This is especially beneficial for small businesses or startups looking to optimize their operational budgets.
Flexibility
The versatility of Pay-By Links is a significant advantage. They can be incorporated into various customer communication platforms such as emails, SMS, and even social media. This flexibility allows businesses to reach customers where they are most active, enhancing engagement and ensuring that payment requests are seen and acted upon promptly.
Improved Customer Experience
By offering a straightforward and quick payment option, businesses enhance their service delivery, leading to higher customer satisfaction. This method eliminates common barriers such as long checkout lines or cumbersome online payment portals, allowing customers to complete their purchases or pay for services with minimal hassle.
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