Whatever your niche or industry, offering a mix of payment options to your clients or clients will help accelerate the success of your business. In addition to the likes of mobile transactions and buy now, pay later (BNPL) options, there are other powerful payment methods that will make your business more attractive to customers or potential clients: E-Commerce Payment Link.
Payment links are fast, simple and friction-free. Setting them up is easier than you think – and there are different types of ecommerce payment links that you can use to boost your business.
Here, we will explain what ecommerce payment links are and how you can use them for your business.
Let’s get started.
Editor’s note: Want to get started with payment links right away? GoDaddy Payments offers online payment links. With a low transaction fee of 2.3% + 30 cents per online transaction, it is the lowest transaction fee compared to other leading providers.
What are ecommerce payment links, exactly?
An e-commerce payment link is a web or mobile based innovation that allows a business to send a link or button to its customers or clients through a preferred medium (SMS, message, landing page, email, invoice, QR code, etc.) to complete their transaction.
You can send or provide the payment link to your customer, and once they click on it, they can complete the transaction by filling in some quick details easily.
The reason why ecommerce payment links are so effective is that they are incredibly streamlined. By making the payment and transaction confirmation as easy as possible, you’ll reduce the risk of shopping cart abandonment – earning more sales in the process.
Although this statement may sound counterproductive – if customers do not want to make a payment right away, they can click again and complete the transaction shortly (within a predetermined time frame).
This level of flexibility and independence will really build trust, increasing your chances of repeating a custom in the process.
Another major advantage of working with payment link providers to provide your customers with these types of fast transactions is the sheer convenience.
With payment links, you can remove the burden of card machines or complex escrow processes – ideal if you’re a small e-commerce business with a physical storefront or pop-up stores.
The link acts as a gateway to an easy-to-use payment page, where the customer can choose their preferred payment option. The whole process is streamlined and the straightforward and non-intrusive nature of the e-commerce payment link means that you will eliminate potential kinks from the checkout journey or transaction. Real win.
Different types of e-commerce payment links
Now that you’re familiar with the concept of e-commerce links – and you know why they are so effective – let’s take a look at the different types available in today’s hyper-connected digital world.
One time link
This type of e-commerce payment link is arguably the most popular. You can spread this kind of link across almost every customer channel or touch point imaginable.
With a one-time payment link, the recipient (customer) can click and enter their payment details (choice from a list of payment options) in a web browser or mobile phone. Simply. As we said, the recipient can pay right away or complete the transaction within a specified expiration period (always specify an expiration time frame and indicate this when sending the link.
To inspire you, here are the various contact points or media where you can submit one-time payment links:
As you can see, there are a lot of options when it comes to one-time payment links – and sending those links to customers provides you an excellent opportunity for further contact or engagement.
advice: To get the most value from one-time payment links, you should always test the links and design your payment page thoroughly before sending it to your customers.
Your link URL should be customized to make it more personal (and easier to memorize) and your checkout page should contain drop-down boxes detailing the different selection of available payment options. Test your links and payment process across each channel to make sure every step is optimized for both desktop and mobile.
Bill payment link
If you are in the e-commerce business and offer services or subscriptions, or sell bulk items to your customers, then the Invoice Payment link might be right for you.
This type of transaction allows you to send a link to your customers via a well-designed email (the most effective method for invoicing). Upon receipt, your customers can click to access an invoice containing all relevant company and transaction details and choose their payment method.
The good thing about this type of e-commerce link is the fact that you can send out timely reminders if your customers are due, and engage them with a few extra email marketing messages in the process.
advice: Since payment invoice links work best when sent via email, you should put your efforts into the subject line, design, and content of your email.
Make sure your link and email are 100% working, and once that is, treat it as a friendly email marketing communication. Offering a simple company update, sending additional product suggestions or offering an incentive (a deal or discount) for future purchases are all effective tactics.
“Buy Now” or CTA-style buttons
Not many people know this, but the payment button is a type of e-commerce payment link. While “Buy Now” and CTA payment buttons are standard practice on e-commerce sites, by getting into the payment link mindset, you can simplify your checkout process to increase success.
You can place a Buy Now button on product pages as well as category landing pages (you can also add these buttons to your emails instead of sending a traditional link), and send your customers directly to the tested and optimized checkout process. Creating a frictionless process will eventually result in less confusion, more comfort, and less abandonment.
advice: First of all, you should make sure that your link buttons appear in the most convertible place on your product or landing page.
You can do this by running A/B tests (two different versions of the same page) and see which performs best (which button gets the most clicks). The best thing about A/B testing is the fact that you can also test button messages (text), designs and colors to see which one is more effective. Improve your push buttons and more people will be inspired to click on them – that’s the rule.
Once your customers click on that, you need to make sure your checkout page design is as easy to navigate as possible and completely seamless – you can use A/B testing for this as well.
Related: How to Optimize Your Mobile Payment Journey for Small Business Success
Ecommerce Payment Links: Best Practices
For more tips and inspiration, here are some ecommerce payment links best practices.
Essence over style
When developing the payment link process, it is necessary to treat each touch point and write (one-time, button, invoice link) individually.
Taking this approach means that you can go deeper into each step of the process to ensure that your designs and messages are seamless and require minimal effort.
While aesthetics are important, always prioritize function and form over style – add a little creative branding by all means, but Start If it impedes the ability to navigate your links or payment pages.
Make sure your links are secure
With the rise of cybercrime, ensuring the complete security of payment pages, gateways, links and buttons is crucial.
One hitch in the chain or a payment data breach is going to cost your customers — and your brand reputation — big time.
However, you should consult a cybersecurity professional (both internal and external) to establish 100% secure payment connections across all channels and touch points.
This will help you mitigate any unforeseen issues while building customer trust – which usually benefits sales.
Related: 7 Security Tips for Small Business Networking
Work with the right payment link providers
Aside from messaging, design, and security, the success of your payment link offerings will largely depend on the payment link provider you choose.
When you’re looking to stick with a payment link provider, you should consider your budget, your specific needs, and which touch points your customers engage with the most.
There are many platforms that offer easy-to-use tools or codes, design features, and payment link data. So, consider your main needs, decide on a workable budget, think about where you want to place or connect your payment links, and do a comparison research.
Ecommerce payment links will give your audience the freedom and flexibility to purchase your products in a way that suits them while making the entire payment or transaction process quickly and easily. And when you do, great things will happen.
Explore the three main types of e-commerce payment links, take the time to understand where they are likely to perform best, stick to the supplier that best fits your needs – and start testing your efforts. the time now.
For more news on the topic of customer transactions, read how to do it GoDaddy now offers point-of-sale devices at very low payment rates.