In a world where the Internet is much more than a way to communicate, digital payments have grown rapidly to become an integral part of our lives in many ways.
For consumers, paying digitally means the ease and convenience of not having to carry cash all the time. On the other hand, businesses think of digital payments as a way to modernize payments – both receivables and payables.
Digital payments also symbolize trust and growth for many business owners. However, an untouched sphere of payments exists between different types of offline and online businesses.
Take the case of an offline cable operator. His team member visits every subscriber’s home at least once every month to collect payment for D2H cable connection. Being a small business owner, it is not feasible for him to create a website and then start accepting payments online.
Similarly, an online vendor selling essentials has no other way to accept payments than COD if the payment solution added to the website is not working for some reason.
With a plethora of payment options available to the customers, an unusual void still persists that requires a more customised payment solution. This is where Paytm Payment Links comes to play a vital role.
Paytm for Business aims to provide payment solutions that cater to every type of business, which is where Paytm Payment Links fits well. For those worried about handling cash during the COVID-19 pandemic, our payment links support businesses to operate safely and adopt contactless payments.
Before we move on to cover the specific use cases of Paytm Payment Links, let’s cover the basics of payment links and their benefits.
What are payment links?
Payments links, as the name suggests, are links or URLs that can be used to collect online payments. As a payment product, these links are easy to generate and can be shared with a customer(s) via an SMS, email, chatbot, or social media messaging apps to accept payments.
The working of a payment link can be defined as follows:
You (merchant) create a payment link and send it to your customer. The customer then clicks on the link and can select the preferred payment source to complete the payment.
It is a fast and easy way to send online payment requests to your customers and get real-time notifications about successful payments.
Benefits of payment links for customers
- Access to a wide range of payment sources – credit cards, debit cards, net banking, UPI, and digital wallets
- Ease of making payments from anywhere
- Payment security
Benefits of using payment links for businesses
- Easy to create and share payment links with customers
- No need for a website or app to accept online payments
- Easy to collect payments remotely for home deliveries
- Automated reminder facility to remind customers to pay on time
- Easy to offer a partial payment option
- Option to create multiple payment links at once to save time
- Easy to accept international payments
- Useful for both online and offline merchants
- Best suited for professionals like doctors, teachers, lawyers, and artists
What makes Paytm Payment Links different from the rest?
With Paytm Payment Links, you get all the benefits listed above and more.
- Paytm Wallet and Paytm Postpaid as additional payment sources that are available nowhere else
- High payment success rate backed by 450+ million Paytm Wallet users
- Faster checkout with 250+ million saved cards
- Competitive pricing
Multiple use cases of Paytm Payment Links
Paytm Payment Links can help you accept payments online from customers in many ways.
- You can use these links even if you do not have a business website or app. Creating and sending links becomes easier using Paytm for Business merchant dashboard.
- These links work well in reducing the friction that exists between your brand and target audience. Your offline sales team can also accept payments from suppliers or customers by sending them a Paytm Payment Link during in-person meetings for instant payment transfer.
- These links can also be used to support online payments as a backup. In cases where your customers are unable to make payments on your website or app, you can send Paytm Payment Links as an alternative.
- Offline or online businesses offering home delivery services can simplify the payment process using Paytm Payment Links. They are highly useful in situations where customers prefer canceling the orders because of not having sufficient cash for at-home deliveries.
- You can also integrate payment links with chatbots to allow users to enjoy a simplified shopping experience on your portal.
How to create Paytm Payment Links
Creating and sharing Paytm Payment Links is quite easy. Just follow the steps given below:
- Create a payment link by adding the amount to be received and payment description.
- Share it with the one you want to accept payments from.
- Be ready to receive notifications for payments received.
Watch this video to know more.