What is a Payment Link?
Payment links are URLs that businesses can send to customers to receive payment for products or services. They allow merchants to accept digital payments, even without a website. Sending a payment link is a simple and convenient way for small businesses to accept payments and minimise transaction friction for their cashless customers.
How Do Payment Links Work?
It’s simpler than it sounds. Payment links lead to a page that prompts customers to input their banking details and pay instantly through an electronic funds transfer (EFT).
Although similar to the checkout process on ecommerce websites, payment links are a game-changer because they allow businesses without websites to make money online.
For businesses, using pay links should be as simple as 3 steps:
- Creating a link
- Sending the link to your customer
- Getting paid – our favourite part!
Getting Paid in 3 Simple Steps
1. Creating a Link
Each pay link transaction starts with the merchant creating a unique link on a third-party platform. Sounds complicated? It doesn’t need to be. iK Pay Link creates a secure link for your transaction in real-time, all from the iKhokha app.
The link you create leads to a cloud-hosted webpage that features information like the price of the transaction and what’s being sold.
2. Sending the Link
Once the iK bots generate a unique link for the transaction, you can share the link with the customer. How to share your payment link? With iK Pay Link, you can share your link via WhatsApp, email, social media, SMS, or even with a digital invoice. It’s all up to you and whatever works best for your customer!
As the consumer clicks the link, they are led to the 3D secure webpage that hosts the transaction information. This page also has new fields to fill in their banking information so the money can move from their bank account into yours.
3. Getting Paid
Once the consumer types in their banking information and accepts the relevant prompts, the banks handle the rest of the transaction. This involves highly advanced robots communicating on the cloud to protect the transaction’s data and make sure the specified amount moves from the customer’s bank account to yours.
iK Pay Link ensures this process happens securely and quickly. Once the transaction is done, the link expires, and your device is redirected to the iKhokha app home page.
Why Try iK Pay Link?
Payment links can make getting paid easier for your business. Although friction can creep into digital transactions, iK Pay Link is a great opportunity for small businesses to reach customers from across the country and get paid remotely.
Pay links allow businesses to skip building and maintaining ecommerce platforms and facilitate electronic payments on the fly. This means less admin for traders who don’t want (or need) either online or brick-and-mortar stores, and allows consumers more flexibility in paying for your goods/services.
The best part about iK Pay Link is its secure data management that protects transactions from fraud and guarantees the safety of your data.
Getting Paid Can Be a Click Away
With the growth of remote shopping in South Africa, businesses need innovative solutions to keep up with the needs of local shoppers. Solutions like iK Pay Link enable merchants to trade flexibly and improve the experience of customers by adding a new way to pay.
Start Using iK Pay Link Today on the Free iKhokha App
You can enjoy a seamless pay link experience at no extra charge on the latest version of the iKhokha app. Update your app now and start enjoying a 3-step payment process from anywhere.
