A payment link and a payment gateway are both tools used in online transactions, but they serve different purposes.
Payment Link:
A payment link is a simple, standalone method for collecting payment.
- Purpose: A payment link is a simple way to collect payments. It’s essentially a URL that, when clicked, directs a customer to a secure page where they can enter their payment information.
- Usage: You might use a payment link if you want to request payments from customers without integrating a full payment processing system into your website or app. It’s often used for invoicing, donations, or one-off transactions.
- How It Works: You create the payment link through a payment service provider (like iKhokha, Yoco etc), customise it with details such as the amount and description, and then share it with your customer via email, text, or any other communication method.
- You will need a payment link to use on our Savvy Hustle and Savvy Pro plan product cards
Payment Gateway:
A payment gateway is an integrated solution that facilitates secure payment processing on your website or app.
- Purpose: A payment gateway is a technology that facilitates the secure processing of payments by integrating with your online store or payment system. It acts as an intermediary between your website and the financial institutions that handle the transaction.
- Usage: You use a payment gateway when you want to embed a payment process directly into your website or app. It’s more involved than just using a payment link and typically requires integration with your e-commerce platform.
- How It Works: The payment gateway encrypts the customer's payment information and securely transmits it to the payment processor. It then communicates the authorisation or rejection of the transaction back to your site, allowing for a seamless payment experience for the customer.
- You will need the relevant application key ID & application secret key to use when you set up up your Savvy Boss Commerce store