For the first time in India Lyra has introduced an extremely convenient and on the spot online payment collection solution – Lyra WhatsApp Payment Solution.
So, what is this WhatsApp Payment Solution? How does WhatsApp Payment work? What are the features of WhatsApp Payment Solution? How is payment via WhatsApp beneficial for my business? Read on to find out why you need WhatsApp Payment Solution for your business.
What is WhatsApp payment?
WhatsApp Payment Solution is a convenient and seamless payment collection solution. It uses WhatsApp messenger to collect digital payments. But it offers so much more than just a way to collect payments. Not only it provides personalized user experience but it also ensures secure payments.
Lyra’s WhatsApp Payment collection option provides an integral, standalone business solution where merchants can connect with an individual as well as a group of customers, promote company and travel packages information, assess customer experience, create a follow-up and collect online payments driving business growth to higher levels and overcome online payments acceptance challenges.
How does Lyra WhatsApp Payment work?
Just follow these four steps:
STEP 1: Merchant creates a Payment Order
STEP 2: Lyra Generates a payment link and sends it to the customer
STEP 3: Payment Processing
STEP 4: Merchant receives the Payment Confirmation message
Every business has it’s own share of payment collection problems. Read here to find out how Lyra WhatsApp Payment Solution makes payment collection easy for retail business owners.
But, more than this, it covers a wide spectrum of sectors from E-commerce to Brick-and-mortar store, from travel- tourism to the education sector and from retail to BFSI sector.
All SMEs can use this as a payment collection method. Let’s see what are the features and benefits of payment collection via WhatsApp in detail.
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Here are the 9 features of Lyra WhatsApp Payment Solution
- Real-time payments
- Errorless payment collection
- Customer Engagement
- Saving, saving and more saving
- Secure transaction
- Uncomplicated and simple service
- Care for customer
- Care for merchant
- Any type of Payment Collection
1. Real-time payments
This solution uses WhatsApp messenger to collect payments, it is a direct payment method. It can be used as face to face and for non-face to face payment collection in real-time. So, you’re never more than a few clicks away from acquiring a payment.
Better yet, you can collect payments online whenever you want, wherever you want.
2. Errorless payment collections
Payment collection via WhatsApp minimizes error opportunities by taking the human element out. The whole transaction process happens within the WhatsApp application without any manual intervention.
3. Customer Engagement
WhatsApp Payment Solution is a tailor-made payment collection solution for each and every one of your customers. With customized messages payment via WhatsApp increases engagement with customers and can be used to close sales immediately.
4. Saving, saving and more saving
With Lyra, merchants can get on board without any additional costs. A specially designed API helps to send bulk payment orders. As the complete transactions happen within the WhatsApp application, it has a couple of benefits:
1) This payment collection solution eliminates the need for a physical POS terminal saving on the installation and maintenance charges.
2) It eliminates the need to use a third-party application.
This feature reduces the time taken to complete the end to end process for both merchants and customers, hence saving both money as well as time.
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5. Secure transaction
WhatsApp messenger uses encrypted messages and all the transactions. And these transactions are processed through Lyra’s most preferred and secure payment gateway.
This solution is PCI DSS v3.2.1 compliant and certified by VISA and MASTERCARD, making payment collection via WhatsApp one of the safest and secure solutions.
6. Uncomplicated and simple service
Nobody likes complicated applications that are hard to understand. Payment collection via WhatsApp is as simple as sending a text message, no, IT IS a text message.
Merchant just has to enter the amount, currency, and contact number of the customer and send the message, that’s it!
7. Care for customer
Customer is King, always is, always will be. With the WhatsApp Payment collection solution, merchants can customize the collection messages according to the customers. These messages can be used to build a customer relationship strategy.
They can assure customers a safe and secure transaction as there is no need to share any personal or bank details such as IFSC code or account number. This service offers multiple payment options, allowing customers to choose the option they are comfortable with.
8. Care for merchant
Customers will always be the king, but self-care is important too. Lyra WhatsApp solution provides a dashboard for a clear overview of all transactions and day to day auto-generated reports for all the transactions.
This can help in the business assessment. With maximum security and fraud, chargebacks minimization, merchants can avoid revenue loss and can maintain customer loyalty.
9. Multiple Payment Collection options
Lyra WhatsApp Payment solution allows merchants to collect
- On the spot payments
- Face to face / non-face to face payments
- Payment orders with a variable amount
- Payment in installments
- Partial payments
Just a few clicks and the payment collection order is sent to the customer. Not only that, but the merchant will also receive a notification in the chat window, once the payment is done online.
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Still have questions?
Here are some frequently answered questions for you to get to know WhatsApp payment Solution:
How can I collect online payments via WhatsApp?
Simple, you can apply online here for the onboarding process. Once you get on board with Lyra, you can start accepting online payments. (Just a reminder, Lyra is known for its quick onboarding, so collecting digital payments via WhatsApp is extremely easy)
What do I need to accept digital payments via WhatsApp?
Collecting online payments via WhatsApp requires only basic things like a smartphone, a free WhatsApp account, and an opening account with Lyra. Once you have these three you are all set up for WhatsApp payment collection.
How to create a payment collection order?
WhatsApp Payment Solution requires minimal input to create a payment order. A merchant only requires to put an amount, currency, and customer’s WhatsApp number. After submitting these details, a customized payment order/ payment link will be shared with you which you and the customer.
How can I collect bulk payment orders?
There is a specially designed API through which you can collect bulk payments.
Can I view the transaction history?
Yes, you can. Lyra provides a dashboard that gives a clear and detailed overview of all transactions. The dashboard also generates daily reports.
Is there a limit of creating or accepting payments?
There is no limit on the number of transactions
Is WhatsApp payment secure for merchants and customers?
#WhatsApp communication is always encrypted and payment transaction processes through highly secured Lyra Payment Gateway. Lyra WhatsApp Payment Collection Solution is PCI DSS 3.2.1 compliant and is certified by Visa, MasterCard. Online payment collection via WhatsApp does not need your customers to share their personal or bank information. Lyra is compliant with the government’s rules on data security.
So, if you are facing problems like
- Collecting on the spot payment
- Collecting partial payment or EMI payments
- Interoperability issue between payment acceptance solutions
Lyra WhatsApp Payment Solution is for you.
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