Are late payments disrupting your cash flow? You're not alone. A staggering 87% of businesses report that their invoices are typically paid after the due date, with 35% waiting more than 30 days beyond terms.
Whether you’re a freelancer or running a small business, this can make it hard to manage daily operations and plan for growth.
Payment links offer a simple, secure way to get paid faster and keep your business running smoothly. Here’s what payment links are, how they work, and how they can help you stay on top of your finances.
A payment link or a QR code is a clickable link or a scannable QR code that allows your customers to complete a sale or a payment.
When they click it, they're taken to a secure page to pay you. It's as straightforward as sending an email or a text message. No complex systems, no fuss.
This method is especially handy for small businesses and freelancers. It streamlines the payment process, helping you maintain a steady cash flow without unnecessary complications.
In essence, payment links are a simple, effective tool to ensure you get paid on time, keeping your business running smoothly.
Payment links make it easy for customers to pay you. Instead of dealing with bank transfers that require entering lots of details, a payment link lets them pay with just a few clicks. You can send these links through email, text, or social media, making the payment process quick and hassle-free.
Modern payment links are encrypted, ensuring customer data remains safe. Using trusted payment gateways reduces the risk of fraud.
Payment links offer flexibility for both businesses and customers. They can be used for various payment methods, including credit/debit cards and digital wallets, accommodating different customer preferences. This versatility makes it easier to complete transactions without the need for specialised equipment or complex setups.
Using payment links can save your business money. There's no need to invest in expensive point-of-sale equipment or pay high processing fees. Many payment link services offer competitive rates, helping you keep more of your earnings.
Payment links encourage faster payments. When customers receive a simple link to pay, they're more likely to do it promptly. This means you get your money sooner, helping to keep your cash flow steady and your business running smoothly.
Offering payment links shows customers that you value their time and convenience. A straightforward payment process leaves a positive impression, making them more likely to return and recommend your services to others.
Incorporating payment links into your business can simplify transactions, reduce costs, and improve relationships with your customers. It's a modern solution that meets the needs of both businesses and their clients.
Select a payment service that offers features like low transaction fees and integration with your existing tools. Xiva makes it super easy for you to take payments online and in-person, using a payment link or a QR code.
After registering, use the provider's platform to create payment links. Here's how easy it is to request a payment using the Xiva app.
Share the payment link with your customers through your preferred channels, such as email, SMS, or social media. The easier it is for customers to access the link, the quicker you'll receive payments.
Use your payment provider's tools to track incoming payments. Xiva allows you to track your earnings and send automated reminders — all in one place. Regular monitoring helps maintain accurate financial records.
Provide Clear Payment Details: Always specify the payment amount and purpose to avoid confusion.
Use Secure Channels: Share payment links through trusted platforms to prevent unauthorised access.
Automate Reminders: Send reminders to customers before the payment link expires to encourage prompt payments.
Freelancers: Send payment links with digital invoices for quicker settlements.
Retailers: Facilitate quick sales through social media platforms using payment links.
Service Providers: Enable easy payment for services like home repairs or personal training without needing physical card machines.
Event Organisers: Collect payments for event tickets or registrations efficiently through shared payment links.
While payment links are beneficial on their own, integrating them into a comprehensive business management platform amplifies their effectiveness. Xiva offers an all-in-one solution that simplifies payment processing with secure payment links, and provides tools for scheduling, a simple website and more.
With Xiva, you can:
For small businesses and freelancers aiming to improve cash flow, streamline operations, and achieve sustainable growth, Xiva offers the ideal digital toolkit.
For small businesses and freelancers aiming to improve cash flow, streamline operations, and achieve sustainable growth, Xiva offers the ideal digital toolkit.
