Pay by link is an innovative financial solution that allows a payment to be completed through a link sent over the internet.
With this setup, online shopping and money transfers become possible through social media channels such as WhatsApp and Instagram.
How does it work?
- The business creates a payment link by setting the amount and description in the payment service provider's panel.
- The link is sent to the customer via SMS, email or a messaging app.
- The customer clicks the link and enters their card details on the secure payment page that opens.
- The payment is completed with 3D Secure verification, and a notification is sent to the business.
Who is it suitable for?
Pay by link is a practical solution, especially for small businesses that do not have a website or that sell through social media. It also offers a safer alternative to mail order for businesses that take orders by phone.
Advantage over mail order
In mail order transactions, the cardholder's card details are passed to the business and the cardholder is not verified. With pay by link, the card details are entered directly on the payment service provider's secure page and verified with 3D Secure. As a result, the business does not see the card details and is better protected against the risk of disputes.
Watch out for fraud
Fraudsters may try to steal card details by sending fake payment links. Before clicking a payment link, make sure the sender is trustworthy and the address of the page that opens is correct.
