How to expand your business | Go global with payment links

Taking your business to the next level to go global can be a pretty daunting move to make. But one area of the strategy that can be much simpler than you think is accepting cross-border payments.

As long as you’ve chosen the right payment provider that has the capabilities to scale with you, then there shouldn’t be any issues.

One payment method that will help you grow internationally is pay by links, also known as request to pay. Global links can be sent to anyone, anywhere and are simple to manage with Total Processing.

Let’s take a look at how global pay by links work and how they can help your business grow.

What can pay by links be used for?

Let’s first cover how you can use global links for payment. There are many ways a pay by link can be used, including a variety of channels in which they can be sent, making them a suitable method for a whole host of businesses in any industry. But here are the most common ways:

• One-time payments – As a global business, you won’t be seeing your customers face-to-face. This is when global links can come in handy, especially if you don’t have a website. Rather than take card details over the phone, which can come with its own risks and is often distrusted by many consumers, you can send them a payment request straight to their device for them to make the transaction.
• Collect late payments – If a payment is passed its due date, particularly from a recurring payment, you can send reminders in the form of a pay by link. There are many reasons why a customer may miss a payment, for example, a lack of funds. So by providing a method that lets them pay when they can, you’re increasing your chances of getting paid.
• Invoices – Digital invoices can be sent to anyone all over the world, and to make the payment quick and simple, you can add a payment link to the email. By doing so, you’re making the transaction as convenient as possible for your customers helping to increase your collection rate.

To make the process even easier, we’ve teamed up with Zoho, an invoicing software provider making it effortless to create and send invoices.

Benefits of global payment links

Next, let’s talk about why you should accept them. By having the capability to accept global payments by pay by link, you’re opening up your business to a whole range of benefits, including:

• Quick and convenient transactions: You may think global payments could take longer than those done locally, but with certain methods, like pay by links, funds can be sent quickly online, reducing the processing time. They are also one of the most convenient methods for your customers, letting them pay whenever and wherever is suitable for them.
• Diverse currency options: You can offer different currencies, making it even more convenient when dealing with international customers, letting them choose their local currency.
• Business expansion: For businesses, global payments open doors to new markets and customers around the world, fostering growth and increased opportunities. Your success is endless when you go global!
• Secure transactions: By using a secure payment gateway and 3D Secure 2.0 authentication, financial information will remain safe even via cross-border transactions.

Remember, while global payments offer many benefits, it's important to choose reliable and secure methods and stay aware of potential fees and exchange rates.

How to create a payment link

With the right payment service provider creating a request to pay is easy. With Total Processing, it can all be done via the Total Control platform in just a few simple steps:

1. Navigate to your dashboard and click on 'New Pay by Link'.
2. Fill out all the mandatory fields with the customer’s details.
3. An optional step is to add an expiry date. Click on 'Advanced Options' and choose a specific date, otherwise, the default expiry for a pay by link is 30 days.
4. Click 'Create Payment Link'. The request to pay will go to all communications methods that have been selected, for example, email and SMS.

With tokenisation, a customer’s card details can be securely saved making the payment even more convenient, which is ideal for loyal customers who won’t have to keep inputting their details every time they go to pay. What do we mean by tokenisation? It’s when the customer’s card’s Primary Account Number (PAN) is replaced with a unique token so that the details can’t be decrypted. We’ve got a tokenisation guide that will tell you everything you need to know.

How are global pay by links sent?

Once you’ve created the request to pay, your payments provider will handle the rest. The link will be sent to the chosen channel based on the details you provided, most commonly via SMS, email or social media.

Then the payment will be made just like any other payment type; the funds will be sent and processed via a secure international payment gateway. So if your business can accept payments worldwide via your current gateway, then you can accept global payments via a pay by link too. 

Finding the right pay by link UK provider

Finding a payment service that can support your business model is critical to its success. Selecting the wrong one can lead to limitations to scalability and a poor customer experience.

One thing to note is that a payment provider based in the UK doesn’t limit your business to only accepting payments in the UK. With the right service, you should be able to take your business worldwide. A few things to consider when choosing your pay by link provider to ensure global success include:

Multiple payment methods

The preferred payment method differs per country. For example, AliPay is popular in China and iDeal is popular in the Netherlands. If your provider doesn’t offer a range of payment methods, you could lose out on a lot of sales and your cart abandonment could increase.

Customisable currency options

Your customers should be able to pay in their local currency. By offering this solution, you’ll be improving the customer experience, and ultimately boosting your conversions.

Multiple acquirers/local acquirers

By being able to use local acquirers in the countries your business is processing in, you can increase the approval rate of your payments as well as the speed at which they are processed and decrease the processing costs.

Secure payment gateway

Security should be your number one priority when it comes to accepting payments. With the right provider, they will use a secure payment gateway and offer a range of risk tools and data analytics so you can stay on top of any fraudulent activity.

Branded payment links

You’ll want to choose a service that allows you to customise your pay by links to look and feel more like your website, for example, adding your business logo. This can help to increase customer trust, and therefore, your conversion rate.

Are you ready to take your business global? Get in touch with a specialist today and get pay by links added to your payment solution.