What is ‘pay by link’?
‘Pay by link’ essentially means taking payments from customers who can click on a secure online link to complete a purchase, rather than giving you cash or using a POS terminal in person. Many businesses have made the transition to selling their products or services online, so knowing how to send a payment link – and not just through a website – can be really useful for business owners.
The benefits of taking link payments
Here are five reasons why payment links can be a great idea:
- Convenience – Pay by link is really handy for businesses who often send invoices and get paid after the delivery of goods or a service.
- Faster processing – With pay by link, you will spend less time arranging to meet a customer or waiting for bank transfers.
- Security – Links are a secure way to get paid, as we’ll cover later, and you’ll have the benefit of tracking who’s made a payment.
- Avoid mail – You’ll save time by not having to post out payment requests through mail.
- Customer satisfaction – By taking link payments, your customers will appreciate having more options to pay, and you’ll help future-proof your business.
How to send a payment link
Whether you’re digital-savvy or you’ve never touched a touchscreen before, the Tyl virtual terminal makes sending online payment links a breeze. Here’s a quick summary of how getting paid by link works:
- Log in to your Tyl virtual terminal.
- Create a payment link that you can email, text or instant message (IM)
- When your customer clicks the link, they’ll be taken to a secure payment page where they can enter their card details and make a payment.
Is it safe to take payment links?
Yes, payment links are perfectly safe. Customers can pay by link using MasterCard and Verified by Visa, which ensures there is strong protection against fraud and your customers’ cardholder data is safe.
By using Tyl, you can take online payments through our virtual terminal, or using a hosted payment page, which we can help add to your website. Our hosted webpages are fully PCI compliant as they technically belong to us. Whether you take a link payment or get paid through a hosted webpage, your customers can authenticate the purchase using 3D Secure for added safety.
Finally, your customers will receive a notification like an email confirmation of their successful link payment and a receipt. All thing’s considered, sending links is a safe way to get paid for PCI compliant businesses.
How to refund a payment link purchase
You can refund a customer using the Tyl virtual platform in just a few simple steps.
- Sign into your online dashboard.
- Click ‘receipts’ from the menu options.
- Select which payment you want to refund and click the ‘refund’ button. You can also search by reference number.
- Select the product you wish to refund and click ‘next’.
- Press ‘confirm’, or if you’re refunding a card payment, enter your password. Done!
Read more about online payments
Running a business can be intense at the best of times, and we get it – you don’t want to spend your precious time chasing up payments. Tyl helps make the whole payment process as transparent and straightforward as possible.
If you’d like to read more about taking payments through Tyl, here is some further reading:
This has been prepared by Tyl by NatWest for informational purposes only and should not be treated as advice or a recommendation. There may be other considerations relevant to you and your business so you should undertake your own independent research.
Tyl by NatWest makes no representation, warranty, undertaking or assurance (express or implied) with respect to the adequacy, accuracy, completeness, or reasonableness of the information provided.
Tyl by NatWest accepts no liability for any direct, indirect, or consequential losses (in contract, tort or otherwise) arising from the use of the information contained herein. However, this shall not restrict, exclude, or limit any duty or liability to any person under any applicable laws or regulations of any jurisdiction which may not be lawfully disclaimed.