Before the advent of technology, making payment for a product or service had to be done in-person using cash or a cheque. Over the years, technology has played a significant role in the world of business by providing various digital payment methods and improving the payment experience for entrepreneurs and customers across the globe.

Today, technology has introduced a variety of online payment methods that enable businesses to receive payment for goods and services easily. Online payment methods have become the most popular and widely accepted means of sending and receiving payment because they are convenient, secure and enable businesses, particularly small businesses, to reach a wider customer base.

Online payment methods used by businesses include credit cards, debit cards, electronic bank transfers, digital payment Apps etc. In today’s article, I will be focusing on a new and simple online payment method called Payment Link.

What is a payment Link and how does it work?

A simple and convenient way of requesting payment from customers, payment links are URL or QR codes that are generated by merchants and sent to customers to make payment for goods and services.

A payment link is usually powered by trusted digital payment companies like Vella, Paystack, Flutterwave etc. Merchants can generate a payment link and present it to a customer via email, text message, social media channels (Whatsapp, Instagram etc).

An interesting thing to note about payment links is that they are generated per transaction and can be customized to include details of a particular transaction. Details such as the item(s) purchased and the amount requested by the merchant.

For instance, if a customer is interested in paying for your product, you can easily create a payment link via a trusted payment provider. Once you have generated a payment link that includes the details of the transaction, all you have to do is forward it to the paying customer. The paying customer clicks on the payment link and is taken to a page where they can make payment using their preferred payment method.

Benefits of using payment links for your small business

Integrating payment links as a payment option in your small business provides many benefits for your business. Few of the benefits include;

- Easy to generate: Merchants can create a payment link in less than 10 seconds

- Global: Merchants can receive payment from customers in multiple currencies.

- Simple: Making payment using a payment link is not a cumbersome process.

- Increase Brand Appeal: Having a payment link as a payment option for your business shows that you move with the latest payment trends and are up-to-date.

- Multiple Payment Options: Customers can pay you using multiple means e.g. bank transfer, debit cards etc.

- Security: No middleman involved which means customers can make payment without worrying about fraud.

How To Create A Payment Link on Vella

Whether you need to request payment for products purchased on your ecommerce store or you need urgent 2k from your friends, Vella enables users to generate payment links quickly and easily. Using a payment link generated on Vella provides multiple payment options that allows you to receive payment from customers via crypto, bank transfer etc.

Interested in creating a payment link on Vella? Follow these simple steps;

1 . Log into your Vella account

2. On your dashboard, tap Payment Link

3. Tap Create Link and select Single Payment

4 . Enter the Title and Description of the transaction.

5 .Select currency and enter the amount.

6. Click Create. Your link will be created automatically.

7. Tap on the newly created link to copy the URL

8. Present it to your customer.

Once your customer clicks on the payment link, they will be taken to a page where they can make payment using their preferred payment method. As soon as your customer makes payment, you will be notified.

If you have a small business, you should consider using a payment link to receive payment as they are secure and convenient.

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