For many small businesses, creativity and ideas come at all times of the day. While managing a business as a solo entrepreneur or with a small team comes with many challenges, the last thing you want is to spend tech bandwidth integrating a full-fledged payment gateway. While integrating a payment gateway is fairly simple, it does require coding knowledge.
It also needs small business owners to invest in a website by buying a domain and spending on UI/ UX to facilitate payments via the gateway platform. All of these costs eventually eat into the profits of small start-ups where every penny matters.
Thankfully, the solution is now at hand with Paytm Payment Links that comes with an array of features designed to help small business owners take complete ownership of their payment collection issues with zero code, even without a website or app. The game changing solution from Paytm Payment Links allows you to collect payments directly from WhatsApp, email, SMS and more.
1 - Problems With Payment Collection
Ever since the pandemic began, the acceleration to all things digital has gone up manifold. Merchants and small business owners are familiar with apps like WhatsApp and traditional SMS but struggle to understand how to incorporate payment solutions and provide multiple payment options for their consumers who are increasingly looking to transact online.
These businesses usually collect payments via Google Pay or direct bank transfers into their personal bank account. This causes major hassles in accounting and reconciliation as merchants struggle to keep track of their transactions.
That’s where Paytm Payment Links comes in to solve these problems with one go.
2 – Everything You Need To Know About Paytm Payment Links
Paytm Payment links enables businesses to collect online payments through 100+ payment sources such as Credit Card, Debit Card, UPI, Netbanking, Paytm Wallet, Paytm Postpaid, EMI etc without having a website. Some factors that work in its favour include –
Ease Of Setup:
Creating a payment link using Paytm takes just three simple steps consisting of creating the Payment Link via Paytm Dashboard. Once the link is active, share it on any platform such as email, WhatsApp, SMS or any preferred chat platform. Once the customer has the link, they can make the payment using their preferred payment source.
Ease Of Usage:
As a business, when you create a payment link, you can choose to send automatic payment reminders, set payment link expiry and upload file to send upto 50000 payment links at once. You can also resend the same link anytime in future as well as check payment status on the dashboard. You can also take advantage of the 1-Click Refunds facility that easily manages refunds from the dashboard without added transactions to manage! An easy refund policy always gives customers the satisfaction before buying and so it would help you increase your sales.
The dashboard also saves time and effort with a quick glance at transactions rather than going through all payments manually. If that’s not convenient, we don’t know what is.
Ease Of Technology:
When it comes to Paytm Payment Links, you can be assured of having the latest technology at your fingertips. Some advantages that set it apart from the competition include –
• Paperless On-boarding Journey with Instant Activation
• Industry’s only Payment Links with direct settlement into your bank account basis KYC details only
• Receive settlement in T+1 days including bank holidays and weekends
• Industry best success rates
• Upto 50% cheaper than other Payment Links with 0% MDR on UPI & Rupay cards compared to competitors who charge upto 2% MDR. UPI is the most preferred payment method in India and hence 0% on UPI will help you boost your profits drastically
• Bank Grade Security with PCI-DSS compliance for real-time risk detection and fraud prevention technology to ensure safe and secure payments every time your customers pay
• Offers worry-free credit options like Paytm Postpaid, EMI etc to customers and help make the purchase affordable with no debt risk to the merchants
Simply activate your Payment Link from Paytm to start seeing the difference it makes to your small business.
Ease Of Trust:
Paytm Payment Link is trusted by lakhs of merchants from small to some of the biggest names in the country. Lakhs of Merchants in India including leading companies like Bajaj Finserv, L&T Financial services as well as unicorns such as Uber have benefitted from using Paytm payment links. Other companies such as Hindustan Times, Adani, Nobroker among lakhs of other merchants across India currently trust Paytm payment links. PayTM Payment Links have processed lakhs of successful transactions in the last one year itself.
3 - Who Can Benefit From Payment Links
Here’s how different businesses can use Paytm Payment Links to their best advantage.
Customers are used to home delivery of household items of all shapes and sizes today. However, accepting cash or COD can cause transit and other risks in case of low ticket items whereas customers prefer using credit card or bank transfers for high ticket items. In both cases, you need to wait for the money to come to you before your cash flow problems are sorted.
Paytm Payment Link allows you to collect online payments easily by simply sharing a link with your customers, getting rid of all risks and data collection worries on your end. COD orders have a higher probability of being cancelled or RTO, this eats up major chunk of your profit, hence convert COD orders into Prepaid with Paytm Payment Links
Freelancers enjoy flexibility but are always hindered when it comes to collecting payments. Whether it is asking repeatedly for payments from the client manually or exposing personal bank account details to receive payments or cater to different payment preferences by each client freelancers wouldn’t be wrong to think they’re at the receiving end of things in terms of finances. Thankfully now, they can simply create a payment link via Paytm to send to their clients to get paid in time without creating and maintaining an entire website. And also enjoy sending automatic payment reminders. No more embarrassing manual reminders!
Social Media Sellers
While people from big cities as well as small towns are buying off social media platforms, managing the payment end of things is more challenging than ever. Thankfully, Paytm Payment Links can solve this problem without you resorting to only having COD for orders or creating an entire website to handle payments. Put your passion into your work, not payment worries! Now don’t waste your time reconciling payments from various social media apps like Facebook, Instagram etc - Enjoy automatic reconciliation on a single dashboard
Educational institutes can create bulk payment links and share them all at once with parents who can pay from the convenience of home, making it a win-win for both parties! What’s more, you can also offer parents the flexibility to pay through their preferred payment of choice including affordability payment methods like BNPL and EMI by using Paytm Payment Links while maintaining records easily through your dashboard.
BFSI and NBFC
Companies in these domains can collect repayment of loans and monthly investment subscriptions easily through a payment link. They can also increase collection rates every month by sending the payment link directly to the payer.
Whether you’re a pharmacy that’s into delivery of medicines, a lab that collects blood reports or a doctor offering telemedicine and online appointments, you can easily share payment links of your products and services through Paytm Payment Link directly with the patient.
For those engaged in the logistics sector, you can convert COD orders to prepaid and reduce return to origin hassles in case a customer isn’t available at his location. You can instead send Payment Link to the customer when the delivery partner is on the doorstep to make the payment process as frictionless as possible.
These are just some of the industries that can use Paytm Payment Links to their advantage among many others.With so much going for it, the only thing you need to do is sign up and activate Paytm Payment Links and watch your small business touch new heights. Get started right away with this link.