Payment Options clinches fintech award for payments in SBR Technology Excellence Awards
It was awarded for its Pay-By-Link solution offered in Singapore and other global service points.
Recognising the increased need for simplified payment solutions, Payment Options Pte Ltd launched its Pay-By-Link solution that is tailored to suit businesses of all sizes both in Singapore and globally.
The Pay-by-Link solution is a smart and flexible tool for requesting and collecting payments. It converts traditional payment methods into a seamless online browser-based payment solution.
Its main goal is to provide an efficient and secure payment experience for merchants and consumers alike. In line with this, it can process multiple currencies and can generate a unique URL payment link for faster processing.
The process continues with customer receiving the link through the platform to collect payment. This link can be distributed through various sales channels such as direct message, e-mail, social media, and e-invoicing systems. This is beneficial as businesses will not need to invest in technical resources to implement an online store.
According to the company, this solution has effectively aided small to medium enterprises in reducing overhead expenses. Primarily, what it did was to implement a hassle-free checkout payment page which allowed clients to enhance the entire payment experience offered on their sites.
On top of this, merchants were able to itemise their products and services. This, in turn, allowed its customers to confirm the accuracy of their purchase before making payment. The result is that transparency was created between merchants and customers, leading to mitigating the risk of chargebacks.
For this project, the company was given the Fintech – Payments award in the SBR Technology Excellence Awards, hosted by Singapore Business Review.
The annual awards programme highlights technological innovations, recognising exceptional companies in Singapore that are riding the digital disruption wave and leading the technological revolution and digital journeys of their respective industries.
The SBR Technology Excellence Awards is part of the regional Asian Technology Excellence Awards now running in 50 countries.
The judges of the awards programme agreed with the company that this payment method has created a lasting impact on the Fintech industry. With upfront payment collection, merchants can enjoy cost efficiency and improvements in their cash flows whilst receiving funds almost instantly.
In giving this award, it considered three major achievements of the company in this project.
First is that Payment Options Pte Ltd established herself as a Payment Facilitator with several leading acquirers. Second is that it was able to launch in January 2022 with several clients onboarded.
Lastly, it was recognised to be the first payment by link with the marketing promo code function.
Payment Options said that its top priority is to understand the merchants’ needs and concerns before it proceeds with the product’s recommendation. By recommending Pay-By-Link to merchants with limited IT resources, it has helped its merchants increase their sales volume and sales count without creating an online store.
For future plans, the company said that it is working on plug-ins that can better support merchants with limited IT resources. In addition, Payment Options is also working with merchants on promotion codes to drive usage, whilst at the same time providing data analytics for them to review and plan their marketing strategy.
To find out more, please visit www.paymentoptions.com for more information.
Watch the interview below to know more about their winning project: