In today’s digital era, convenience and security are key when it comes to making purchases. One innovative solution that has gained significant traction—especially in the B2C segment—is the ability to make instant payments. And as is often the case, the tools and technologies adopted by consumers are also expected to exist in the B2B space. If you’re not keeping up, there’s a risk you’ll fall off their radar.
At Payer, we’ve long been working on innovative solutions that meet consumer expectations in the B2B world. Request-to-Pay (R2P) is a simple yet powerful solution we’ve developed to help our customers get paid quickly and easily. Thanks to R2P, you can offer a seamless and enjoyable buying experience for your customers—while eliminating unnecessary risks. On the contrary, we help you secure your payments!
Let’s dive into the concept and explore why R2P is becoming a popular payment method for both consumers and businesses.
What is Request-to-Pay?
Request-to-Pay is a payment option that allows customers to make secure digital request for payments via a unique payment link sent directly from you, the seller. Your customer receives a personalized link that takes them to a secure payment portal.
Benefits
Increased security
One of the biggest concerns with online transactions is the risk of exposing sensitive financial information. R2P significantly reduces this risk. The customer does not need to enter payment details on a website or platform, minimizing the chance of data falling into the wrong hands.
Fraud protection
R2P reduces the risk of falling victim to fraudulent activities. By relying on a unique link, customers can be sure they are dealing with a legitimate merchant—and that no third party can access sensitive data.
Flexibility
R2P offers flexibility for both sellers and customers. Sellers can generate links for different payment amounts or tailored orders to meet specific customer needs. Customers, in turn, can choose when and where to complete the payment, since the link can be accessed from any internet-connected device.
Order confirmation
R2P gives businesses a reliable way to confirm orders before processing. Since the payment is made through a unique link, sellers can be confident that the customer has actively initiated the transaction and confirmed the order. Once this is done, the seller can proceed without taking unnecessary risks.
How Does Request-to-Pay Work?
- Order placement
The customer places an order for goods or services via the seller’s website, social media, or alternative channels—such as over the phone. - Payment link generation
You, the seller, generate a unique payment link that includes order details and the amount to be paid. - Link delivery
The payment link is sent to the customer via email, SMS, or other preferred channels. - Payment
The customer clicks the link, which takes them to a secure payment portal. They review the order and complete the payment. - Confirmation
Once the payment has been successfully processed, both the customer and the seller receive confirmation. The seller can then proceed to fulfill the order.
Request-to-Pay is revolutionizing the B2B payments landscape. With its enhanced security, fraud protection, and streamlined checkout experience, it’s a win-win for both businesses and their customers.
As we continue to prioritize convenience without compromising on security, Request-to-Pay is becoming less of a “maybe” and more of a must.
Get in touch with us to learn more!
Peder Berge
CEO
