June 06, 2022 | Louise Basse
With our simple and powerful payment feature, Pay by Link, it’s easier than ever to offer seamless payments for businesses and consumers in whatever fashion the payer prefers – whether that’s by email, pdf, sms, letter or even in a social media chat.
Now, businesses from any industry are able to cut out unnecessary payment steps by creating a simple link that allows customers to pay instantly in any given context.
We sat down with Lennart Kristensen, Product Manager at Visma Dinero, to talk about how they've simplified invoice payments for more than 77,000 small and medium-sized entrepreneurs with Pay by Link.
Hear all about it in the video below.
Commenting on the new feature, Martin Thorborg, Co-Founder and CEO of Visma Dinero, also says:
“With Mastercards’s Pay by Link feature in place, we’re able to remove a massive headache for businesses, by making it as straightforward as possible to both send out an invoice and get paid in any given context. With a simple payment link, we’re enabling our customers to get paid in time by using open banking payments in a flow that they trust with their bank. In combination with our additional access to account information from Mastercard, we now make it incredibly smooth to both pay and reconcile for thousands of businesses.”
Based on open banking payments, Pay by Link is set to payment barriers, while providing the most cost-efficient payment method in any use case.
The feature is set to empower multiple industries and new use cases ranging from accounting, insurance, and telecom companies to social commerce, payment service providers and utility companies.
It’s an easy and straightforward payment experience for both businesses and payers. Businesses simply populate the payment with the necessary invoice information, and Aiia then makes sure that all vital information is visible on both the sender and the receiver account. This empowers you to automate the reconciliation process, if necessary.
Any business has the ability to issue a payment link for an invoice through any customer facing channel such as SMS, e-mail or even a physical letter. Thanks to the fast and convenient payment journey, there is a higher likelihood for businesses to get paid on time in a much more cost-efficient way than other payment methods.
Commenting on the new payment feature, Mastercard's VP Open Banking Sales Europe, Jozef Klaassen, says:
“We’re in the process of transforming the entire way of paying bills. With a simple link, we make it effortlessly easy and secure to pay a bill on the go with a bank account without having to enter or remember payment details,” he says and continues:
“With Pay by Link, we give businesses the opportunity to accept and receive payments anywhere and reduce friction in the entire payment flow. The new feature is bridging the opportunity gap between open banking payments and a wide range of businesses,” he ends.
Curious to learn more about how open banking payments can empower new business opportunities? Then head over and download our latest open banking report that shines a light frictionless digital payments.