Available in the United States of America, Link Bank Payments is a fast and secure way for clients to transfer you money, which costs far less than card payments!
Customers simply select their bank, verify the payment in their banking app, and the payment goes through, with instant confirmation.
What does it cost to accept Link Bank Payments?
The cost of accepting Link Bank Payments payments through ServiceM8 Pay is on a pay-as-you-go, per-transaction basis.
The Link Bank Payments processing fee is 2.1% + 5c i.e. there is a percentage fee, based on the transaction value (2.1% of the value) and a fixed fee (5c).
NOTE:
- Surcharging is not supported with Link Bank Payments i.e. you cannot pass on the Link Bank Payments processing fees to your customers.
- The ability to let customers pay with Link Bank Payments is part of the ServiceM8 Pay add-on. However, it is a separate payment method to accepting credit & debit card payments, which has different processing fees. You can find the processing fees for credit & debit card payments with ServiceM8 Pay here.
- Link Bank Payments cannot be deactivated, or only presented for some jobs or clients — with ServiceM8 Pay activated, the Link Bank Payments option will always display when a client clicks/taps 'Pay Now' in one of your online invoices.
How to start taking Link Bank Payments
The option for your clients to pay via Link Bank Payments is only available in the United States of America, and only available if you've enabled ServiceM8 Pay.
Before you begin using Link Bank Payments with ServiceM8 Pay, please review the ServiceM8 Pay Terms & Conditions.
Once you've activated ServiceM8 Pay, all invoices you send to clients to view and pay online, will include the option to use Link Bank Payments.
How clients pay with Link Bank Payments
Once ServiceM8 Pay is enabled, when you send clients an email or text via ServiceM8 to view their invoice online (i.e. the online invoice link), it will include the option to 'Pay Now' online, which will have the option to pay by card, or by Bank:
.
Link Bank Payments is based on the 'Link' service, by Stripe — a service designed to streamline online payments by allowing customers to save their payment details for faster checkout across different websites. When customers opt in, Link securely stores their payment information, such as bank account or card details, and autofills these details when they shop online or pay businesses (like yours!) which support Link. Your clients may already have a Link account, and if not, it's quick and easy to create.
.
When they tap 'Confirm and Pay...", they'll be prompted to choose their bank:
.
After choosing their bank, they'll be prompted to log into their Link account (which saves their payment information for fast and easy checkout online):
.
They'll then go through a two-step authentication flow to verify their identity, then be prompted to select the account they'd like to use for payment:
.
Then they can click/tap 'Confirm and Pay...'
.
.
Once they verify and complete the payment in their banking app, it will be processed, you'll receive a payment notification in ServiceM8, and the payment will be added to the job:
.
