How to take payments by link

Did you know your customers can pay you not just through cash or card machines, but a handy payment link? Thanks to the wonders of technology, your customers can simply pay by link for your goods and services. Let’s explore how it works.

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:

1. Convenience – Pay by link is really handy for businesses who often send invoices and get paid after the delivery of goods or a service.
2. Faster processing – With pay by link, you will spend less time arranging to meet a customer or waiting for bank transfers.
3. 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.
4. Avoid mail – You’ll save time by not having to post out payment requests through mail.
5. Customer satisfaction – By taking link payments, your customers will appreciate having more options to pay, and you’ll help future-proof your business.

When would you use payment links?

The ability to pay by link could make transactions easier for your customers, and there are certain scenarios where this technology could prove useful. Here is the rationale for why it sometimes makes sense to create a link for payments:

• You want to sell online without a website. These days, you don’t have to go to the trouble to build a website – with added costs like domain mapping and hosting – in order to sell to your customers online. Making a payment link means you can sell your products on social media channels without the usual online overheads.
• You sell through niche online marketplaces. Platforms like Etsy, Facebook Marketplace and eBay are where many customers look for items, so being able to create a payment link means you can send through these channels where your customers already are, rather than asking them to embark on a long web journey.
• You want to sell at events. Even if you mostly get paid at a static location – like coffee shops or pubs – you might want to occasionally sell to customers elsewhere. For example, you could sell your products or services at a fundraiser where you don’t have a portable card machine present. Asking customers to pay by link – perhaps with the help of a QR code – could save you time (and stress) on these one-off occasions.

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:

1. Log in to your Tyl virtual terminal.
2. Create a payment link that you can email, text or instant message (IM)
3. 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 card scheme compliant versions of EMV® 3-D Secure, which ensures there is strong protection against fraud and your customers’ cardholder data is kept 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.

1. Sign into your online dashboard.
2. Click ‘receipts’ from the menu options.
3. Select which payment you want to refund and click the ‘refund’ button. You can also search by reference number.
4. Select the product you wish to refund and click ‘next’.
5. Press ‘confirm’, or if you’re refunding a card payment, enter your password. Done!

Should my business send payment links?

Giving your customers a range of payment options might sound like a no brainer, but for some small businesses in particular, secure payment links perhaps make even more sense. For example, if your work takes you frequently off-site – such as mobile hairdressing, dog walking or gardening – it might be easier for you to create a link for payment rather than carrying around a card machine. On the other hand, some hybrid businesses might embrace link payments alongside in-person card transactions; for example, a microbrewery, might serve customers in-store using a POS terminal, but also take online link payments and send out deliveries.

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Disclaimer

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.