Pay-By-Link Solution: For a long time, many merchants have been missing out on customers who prefer to pay remotely via card. In the same vein, some merchants do not have a physical location that a customer can visit and pay via a point of sale (POS) terminal. This has deprived potential customers the ability to pay remotely via card.
This problem may last no more. This is because the Co-operative Bank has enhanced its e-commerce solution, making it possible for business owners without a website or an app to receive payment via card through its flagship Pay-By-Link solution.
- Once the customer and the merchant agree on the pricing, the merchant sends the payment link to the customer’s email address.
- The customer will click on the link, which will direct them to a portal where they will insert their card details and the amount they are to pay.
- Once the payment goes through, the merchant will receive a payment confirmation via email and SMS.
- The customer will also receive a notification via SMS in the event they have subscribed to SMS alert with their card provider.
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Advantages of the Pay-By-Link solution
- The merchant does not incur any cost to obtain the solution. It is FREE to get onboarded.
- The solution is 3D secure, with two-factor authentication for all card payments.
- In the event a customer makes a wrong payment, the merchant can reverse it without involving the bank.
- The customer cannot reverse a payment. This reduces the risks of merchants losing money through dubious characters.
- Payment reconciliation is easy for the merchant since they can track transactions and view them from a single dashboard.
Co-operative Bank offers its customers several other contactless solutions as follows:
- E-commerce solution: This enables businesses to receive card payment through their websites or app.
- POS solution: Merchants don’t need to handle cash. The customers can pay for their goods and services via card at a Co-op Bank POS terminal.
- M-Pesa Paybill 400200: Customers can pay directly into the merchants Co-op Bank account via M-Pesa Paybill number 400200.
- M-Pesa Paybill 400222: With Co-op Bank’s Paybill 400222, reconciling of payments done via M-Pesa into your account is easy. The statements include the customer’s name, student number or house number and their phone number. This solution is ideal for school, merchants that receive bulk payments, and landlords/landladies.
- And now the Pay-By-Link solution that enables business owners without a website or an app to also receive payment via card.
