Small businesses can help reduce payment delays with Payment Links
Tackling the challenge that faces many small businesses – waiting for payment after the service has been delivered – global inclusive payments platform, Ecommpay, includes its Payment Links solution in its small business proposition. As Luke Pierce Ionides, small business champion at Ecommpay explained, the no-code solution helps cut out the risk of payment delay for the wide variety of small businesses that operate on the basis of payment once the job is done.
“If you think about the myriad of micro enterprises that don’t accept credit card payments at point of sale – from mobile hairdressers to building trades and even window cleaners - there’s often that moment when they’ve done the job and then wait with bated breath for the customer to make the payment. It’s not great for their cash flow, and it’s embarrassing to have to chase up payment."
“With our Payment Links solution, which is integrated in the Ecommpay for Small Business service, the merchant can create a payment link and send it to the customer by email, text, WhatsApp or even social media, so there’s no reason for delay. And our recent survey of UK consumers has identified that payment links were cited as a preferred method of payment by 55% of respondents."Ecommpay survey - preferred method of payment to trades:
- Payment links - 55.48%
- QR code - 20.49%
- Bank transfer - 24.03%
Ecommpay Payment Links is a no-code solution built with industry-standard security measures, that enables merchants to accept payments quickly by sending a payment link- funds are typically received within one business day, subject to settlement terms.. The links are generated from the Ecommpay merchant dashboard and reduce the need to take bank or credit card details over the phone, which is known to make some customers uncomfortable. It also eliminates the need to wait for the customer to do a bank transfer.
There’s no need to build a payment page, which is critical for small businesses that simply don’t have the IT resources or budget. And the real-time status tracking means the merchant can immediately see which invoices haven’t been paid in order to send reminders.