PayByLink: The new payment trend in 2021

Consumer habits are not the only ones changing during the Covid-19 pandemic, but also those of payment. People are trying to avoid physical contact as much as they can. They prefer to be careful and physical stores are seeing their foot traffic drop drastically. All methods that promote social distancing are welcome. PayByLink is one of them.

To help merchants adapt to this new trend, Silkpay has launched the PayByLink service that allows its merchants to send payment links to their customers so they can pay for their purchases remotely.

How does PayByLink work?

The merchant generates a payment link from his mobile phone, POS or Silkpay's Web platform with just a few clicks. Then they can send it to their customers by email, text message or social media (Facebook, Instagram, WeChat, Line...). By receiving this payment request link, their customers will be able to securely finalize payments using Alipay, WeChat Pay, UnionPay, Visa, Mastercard or Amex.

Who can benefit from PayLink?

All European merchants can contact Silkpay to activate PayByLink. This service could particularly interesting for companies such as retailers, travel agencies, hotels, restaurants, and service companies but nt only to those.

Merchants can attach payment links to e-mail or SMS invoices, asking customers to checkout. B2B companies can also embed these links in invoices for faster payment. If you're a physical store, and want your customers to checkout remotely, it's time to try PayByLink.

Besides, merchants dealing with phone transactions could particularly benefit from PayByLink and minimize the risks associated with payments over the phone.

With PayByLink, even a merchant who does not have a Website or an online store can accept online payments, saving him significant financial and operational resources in the payment flow.

PayByLink use:

PayByLink is used for remote transactions. It represents e-commerce in its simplest and most efficient way. It's an ideal tool for those who want to start selling online, but don't have their e-commerce platform yet.

It is now becoming common for consumers to engage with brands through chats or social media to ask questions, get personalized recommendations, and click to buy, all without having to leave the platform. Payment links are at the heart of this type of transaction. They allow companies to create and send a personalized payment link to their customers via email, SMS or social media. The customer then makes the payment in real time or whenever he wants without leaving the platform.

PayByLink can be used by all types of businesses of all sizes and offers all means to convert prospects into buyers.

PayByLink advantages:

• It's a simple process: an online payment link offers customers a simple payment solution. Don't wait for your customers' checks or transfers for weeks: get paid via PayByLink. It just takes a few clicks to generate a link that is valid for an unlimited period of time. Customers can then pay at their convenience.

• It's international: collect international payments for customers all over the world. PayByLink allows you to receive payments in any currency. With Alipay, WeChat Pay and UnionPay integrated into PayByLink, you can accept payments from your Chinese customers remotely without worrying about the time difference.

• A higher cashing limit: The cashing limit via PayByLink is higher than payments via QR code or phone. It allows the merchant to cash in up to several hundred thousand euros in a single transaction. For example: Alipay has put a cap on cashing through the static QR code but thanks to PayByLink, merchants can cash their Chinese customers remotely without being impacted by this cap.

• It's fast: There's no faster way for customers to pay you from anywhere on the planet. With PayByLink, you can send your customers real-time payment links. On the merchant's side, you only need to click from your phone or Silkpay’s platform to send the link. Your client has the option to make the payment whenever he wants.

• It's secure and trustworthy: PayByLink is a fully intuitive and secure payment system designed to make your customer's payment experience easier. Accepting PayByLink will show your customers that you are up-to-date with the latest technological improvements, increasing customer loyalty.

• No technical knowledge required: Unlike launching an e-commerce Website, the adoption of PayByLink requires no integration or technical knowledge. We offer a quick and simple acceptance solution. The merchant simply has to copy the link and send it to his customers or choose the automated method of sending.

About Silkpay:

Based in Paris, Silkpay is a fintech company offering Alipay, WeChat Pay, UnionPay, Visa, Mastercard and other payment methods popular around the world. Silkpay provides omnichannel payment solutions to European merchants to accept in-store and online payments. Silkpay has earned the trust of thousands of merchants in Europe since its inception.

Accepting PayByLink with Silkpay is:

• Accepting online payments 24/7 without hassle

• Allowing your customers to make the payment at their convenience

• Providing a stress-free and secure payment experience for your customers

• Accept payments securely and retaining customers

• Adapting to payment trends by integrating your customers' preferred payment methods

• Avoiding errors in payment processing

• Making sure you cash in your payments faster