How to Create Payment Links to Accept Fast Online Payments

How to Create Payment Links to Accept Fast Online Payments

In recent years, digitization has made it possible for businesses, both small-scale and large-scale, to sell their products and services on the web. Not only this, but it is also easier to collect payments online as there are several methods available today. Customers can choose to pay through debit cards, credit cards, net banking, and even UPI.

But integrating a payment gateway can be a considerable investment, especially for startups and home-owned businesses. And this is where payment links save the day! Not sure how it works? Well, don’t worry as this quick guide will explain everything you need to know, including the process of creating payment links.

What are Payment Links?

A payment link is a virtual payment method where the merchant generates a request and shares it with the customer for instant and hassle-free payments. The link can either be a URL or a QR code that redirects the user to a new (or stand-alone) web page to complete the transaction. Moreover, not only is creating payment links easy but even sharing them is simple through various communication channels like email, SMS, social media, and more.

Here is a breakdown of how payments link work:

  • First, the merchant or business owner generates a payment link.
  • The link is then shared with the customer through email, SMS, Whatsapp, or any similar channel.
  • The customer clicks on the link shared by the merchant, which then redirects to a new and secure web page to complete the transaction.
  • Next, the customer can select their preferred payment method, be it a debit card, credit card, net banking, or UPI.
  • Once the payment is successful, the merchant receives a confirmation.

The Advantages of Creating Payment Links

If you’re skeptical about creating payment links for your business, here are a few benefits you should consider:

  • Added Convenience: By creating payment links, you can eliminate POS terminals and cash transactions. This not only saves time, effort, and money but also offers added convenience. Plus, you can also significantly reduce overhead expenses.
  • Enhance User Experience: A great benefit of creating payment links is that customers can make instant and hassle-free payments. This results in an enhanced user experience and increased customer satisfaction, leading to more revenue in the long run.
  • Complete Security: Contrary to popular belief, payment links are completely safe as they operate through secure payment gateways. Thus, not only do payment links reduce the chances of fraud but also keep customers’ private information secure.
  • Easy Customizations: In addition to sharing payment links through various communication channels, you can also make customizations. For instance, if you want to promote a new product or share a special discount code, you can add a customized message to the payment link.

How Are Payment Links Created?

Now that you’re familiar with the basics, let’s understand the process of creating payment links:

  1. The very first step is to look for a service provider of your choice and install their smartphone application.
  1. To register with the payment links provider, you will need to submit a few documents and personal details.
  1. Visit the dashboard or API on the application to open the required form and fill in all the information.
  1. Next, you will receive a notification as soon as the customer completes the payment and the amount will be transferred to your account.

Yes, it is that simple! However, choosing the right service provider is the key to making this process quick and seamless. Razorpay’s payment links can be generated with no extra charges in just 3 easy steps through their mobile application. Plus, you get access to hassle-free onboarding, single-click refunds, automated reminders, easy tracking, and much more.

Visit the Razorpay website and get started on creating payment links for your business today!