E-commerce is one of the biggest industries in the world. Studies peg its market size at over $16 trillion and estimate that it will get to over $70 trillion in the next few years. Companies like Amazon, Shopify, and Alibaba have transformed into global juggernauts. In this article, we will focus on email payments and how they work.
What is an email payment link?
Companies are constantly looking for ways to grow their businesses. Most sellers have embraced an omnichannel strategy of doing business, where they sell in multiple places, including online. One approach to growing your business if you don’t have a website is to use an email payment link.
An email link is where you create a payment button or link that is connected to a special landing page. As a result, you can share the link through several online formats like email, social media, and SMS. When a person follows the link, they are taken to the landing page, where they can complete the payment.
How email payment links work
The most popular way that businesses sell online is by creating a website that has a checkout button. An email link strategy skips this process, which can take a longer period to implement.
Most businesses use online payment providers that provide payment infrastructure services to integrate their email payment solutions. After signing up, they just need to fill in a few details and then generate a link, which they can share with their email subscribers or social media platforms.
The payment provider will then handle all the processing when a customer shops using the link. Some of the best-known providers are Noda, Adyen, and Stripe.
Benefits of using email links
There are several reasons why many businesses use email payment links. First, the process of signing up is relatively simple. In most cases, depending on the payment provider you are using, it can take a few minutes to sign up and create a link.
Second, you don’t need to do the programming or creating your own infrastructure. Instead, it is always advisable to use payment providers that have a long track record in the industry. Using these companies is cost-efficient and safer since they invest heavily in securing their networks.
Third, you can easily customize the landing page of the link. Many payment processing companies that offer this service have a drag and drop platform that can help you design your page. This means that you can incorporate your firm’s branding.
Further, email links are highly versatile and can be used across various mediums including email, social media, and SMSs. They can also accept numerous payment methods like credit and debit cards, Apple Pay, Google Pay, PayPal.
Best email payment providers
There are many companies that provide email payments. Most of these companies use the same revenue model, where they take a small commission when processing payments. One of the trusted providers of email payments is Noda. The company takes a 1% commission and allows companies to accept numerous payment options.
Stripe, which is valued at over $50 billion is another one. The firm provides payment services to companies like Lyft, Salesforce, Google, and Zoom. According to its website, it charges a transaction fee of 2.9% plus 30 cents.
PayPal is another leading payment company that provides these services. It has diverse tools that make it possible for companies to receive payments online. Other companies you may consider are Adyen, GoCardless, Revolut, and Square.
Summary
Email is a powerful tool used by billions of people around the world. This explains why most companies use email subscriptions to boost their sales. In this article, we have looked at how you can use email payments to grow your sales. We have also identified some of the best service providers you can use to grow your business.
