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Conversational Payment: What Is It and What Are Its Benefits?

We live in an on-the-go era. From the way we communicate to the way we pay, everything has changed. However, this change has only improved the level of accessibility in our lives. The quality of our lifestyle has also transformed. And it is all because of the rapid changes in technology. 

A long time ago, we only had one way to pay i.e. through cash. However, now, you don’t have to be physically present at a place to pay. Do you have a daughter who has to go on a trip with her friends? You can just give her your credit card and ta-da, the deed’s done! You can make payments while flying too, which by the way, is fascinating.

But did you know that now you can pay via text, voice, emails, and apps? You must know if you are a frequent online buyer. You can pay over ‘chats’ too, which is why these payments are often known as ‘conversational payments’.

What is a Conversational Payment Exactly?

The payments that are processed during a chat/messaging conversation are called conversational payments. It can be said that an online payment happens with the help of two parties. One is with the help of the chat operator and the other is through a payment provider. This payment happens during a live chat. 

A customer can proceed to pay with a chat operator’s help. Let’s suppose a customer has a question about a skincare product on your website. A chat operator helps the customer make a wise choice. Then, they decide to buy the product. However, the customer seeks help to make a payment. The operator shares a direct payment link with the customer. The customer uses the link to pay. This is how the conversational payment happens over chat.

It’s the biggest advantage? The customer feels like it is a real-time experience for them.

Are There Any Benefits of Conversational Payments?

Of course, there are! In fact, there are a bunch of them. Here are a few to help you decide why you should go for them:

  1. Conversational payments are a fast way of payment. The customer does not have to go to another website or another app to pay.  Instead, the chat operator can provide them with a link to process their payment.
  2. Conversational payments are safe. It is because they are sent to a safe page which the chat representative shares. On that page, only the usual payment verifications are done. These are no issues for the user and thus, the payment goes through smoothly.
  3. They offer opportunities to the operator to up-sell their products. As the operator helps the customer, he can offer additional products. In addition to this, he can inform the user of any deals.

The operator can receive feedback at the end. Conversational payments enable an operator to stay with the customer till the end. After the payment is complete, the chat representative can ask for feedback. This is beneficial for the business to understand their customers better.

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