Last week, CaSys, the electronic payment processor in Macedonia, introduced a new payment service called “Pay by Link,” aimed at supporting small and medium-sized enterprises (SMEs), freelancers, and other businesses. This innovative solution allows merchants to accept payments quickly and securely through a simple link, providing an efficient alternative to larger, more complex e-commerce platforms.
Modernizing Payments in Macedonia
CaSys describes the introduction of Pay by Link as a crucial step in modernizing Macedonia’s payment systems. The service is designed to help small businesses optimize their payment processes, improve cash flow, and contribute to the growth of e-commerce in the country.
“This innovative solution will especially help small and medium-sized enterprises to optimize their business processes and improve their financial performance. It will further stimulate the development of e-commerce, providing merchants with cost-effective access to an electronic sales channel,” CaSys announced.
The service has been integrated into the newly redesigned cPay payment portal, making it easier for businesses to use. Merchants will notice the new “Pay with Link” menu, where they can quickly generate custom payment links to send to their customers.
What is Pay by Link?
Pay by Link is a fast and simple payment method that works by sending a link directly to the customer via email, SMS, messaging apps, or social networks. Once the customer receives the link, they are directed to a secure payment page where they can input their payment information, such as a credit card number, to complete the transaction.
The process is straightforward: a unique link is generated, containing the transaction details (such as payment amount, description of the product or service, and currency). This link is then sent to the customer, who opens it, enters their payment information, and completes the payment on a secure page hosted by a trusted payment processor.
Benefits for SMEs and Freelancers
One of the main reasons for the growing popularity of Pay by Link is its simplicity and convenience for both businesses and customers. Here are some key advantages:
- Quick and Easy Payments: Customers can pay directly through a link without having to navigate complex websites or visit a physical store.
- Flexibility: The service is accessible through multiple channels, such as email, SMS, and social media, allowing businesses to engage with customers on their preferred platforms.
- No Complex Integration: Businesses can use the service without investing in expensive or complicated e-commerce infrastructure, making it ideal for smaller companies and freelancers.
- Reduced Payment Delays: Since the payment process is streamlined, businesses can receive payments faster, helping to improve cash flow.
- Adaptable to Business Needs: Businesses can customize the payment links with specific amounts, descriptions, and even offer discounts, making it flexible for different business models.
Potential Drawbacks
Despite its many advantages, Pay by Link does come with a few limitations:
- Security Concerns: One of the biggest risks is phishing attacks, where fraudulent links could be sent to customers. Customers need to be cautious when opening any payment links.
- No Shopping Cart Support: This method is not ideal for businesses that sell multiple products, as it does not support a shopping cart function.
- Channel Dependence: Payments may be delayed if the customer does not notice or open the message containing the link.
- Potential Fees: Some businesses may face additional charges for using the service, which could impact smaller enterprises.
A New Era for Payment Solutions in Macedonia
The launch of Pay by Link by CaSys marks a significant development for SMEs and freelancers in Macedonia, providing them with a practical, cost-effective way to manage payments. By eliminating the need for complex e-commerce setups and offering a secure, flexible payment option, Pay by Link is set to become a valuable tool for businesses looking to modernize their operations and boost their financial performance.
For more information about the service and how it can benefit your business, visit CaSys’s cPay portal or contact their customer support team.
