In the dynamic digital environment of 2024, online payment security is a paramount concern for businesses. It entails a suite of proactive strategies and protocols to fortify the integrity of sensitive payment data during digital transactions.

During fiscal 2022-23, banks documented 6,659 instances of digital payment fraud. The 2023 IBM Security report highlighted that the average cost incurred due to a data breach in India soared to INR 17.9 crores, marking a significant 28% surge since 2020. 

These statistics underscore the pressing need for businesses to elevate their focus on payment security to shield their financial assets and uphold customer trust and loyalty.

Payment Links for Instant Payments 

Payment Links for payment refer to a convenient and efficient method for facilitating immediate transactions through digital platforms. These links provide users with a direct route to make payments instantly, typically by clicking on the provided link and completing the transaction through a preferred payment method. 

This approach eliminates the need for traditional payment processes and enables seamless, on-the-spot transactions, making it particularly advantageous for businesses and individuals seeking fast and hassle-free payment solutions.

So, if you are asking yourself, ‘How do I create a payment link,’ here is the answer: 

  • Choose a Payment Service Provider (PSP): Select a payment service provider that offers payment link creation as part of its services. 
  • Sign Up or Log In: If you have not already signed up for an account with your chosen payment service provider. If you already have an account, log in to access your dashboard.
  • Navigate to the Payment Link Section: Once logged in, find the section or feature that allows you to create payment links. This might be labelled as “Payment Links,” “Create Invoice,” “Request Money,” or something similar, depending on the provider.
  • Enter Payment Details: Fill in the required information for the payment link, including the amount to be paid, a description or invoice number (if applicable), and any other relevant details.
  • Customise the Link (Optional): Some platforms allow you to customise the payment link URL or add additional information, such as a custom message or branding elements.
  • Generate the Link: Generate the payment link after entering the necessary details. The platform will usually provide you with a unique URL that you can share with your customers or recipients.
  • Share the Link: Copy the generated payment link and share it with your customers or recipients via email, messaging apps, social media, or any other preferred communication method.
  • Track Payments (Optional): Many payment service providers offer features to track payments made through the generated links. You can monitor payment statuses, view transaction histories, and manage payments from your account dashboard.
  • Receive Payments: Once customers click on the payment link and complete the transaction using their preferred payment method, the funds will be deposited into your account, typically minus any transaction fees charged by the payment service provider.
  • Follow-Up (if necessary): If you have not received payment within the expected timeframe, you may need to follow up with the customer or recipient to ensure the transaction is completed successfully.

Understanding PPI Solutions and Choosing the Right One for Your Business

The full form of PPI in payment is a ‘prepaid payment instrument’, and it denotes a financial instrument enabling the purchase of goods and services through funds stored within or on the instrument. 

Prepaid payment instruments (PPIs) function as negotiable instruments that facilitate purchases against the value maintained within the instrument, as delineated by the Payment and Settlement Act of 2005 under the Reserve Bank of India (RBI) purview. 

These instruments extend beyond retail transactions and encompass fund transfers, banking services, exports, and various other indispensable services.

Payment mechanisms, including cash, bank accounts, debit cards, credit cards, or other PPIs, can be utilised by the owner of the instrument to load funds onto the device. PPIs encompass a diverse array of mediums, such as mobile wallets, payment wallets, smart cards, magnetic chips, and vouchers, all of which enable prepaid transactions. These instruments are typically pre-loaded cards designated for specific payment purposes. 

Furthermore, the RBI has introduced a new prepaid payment instrument tailored for online transactions, capped at 10,000 units.

When considering which Prepaid Payment Instrument (PPI) solution to integrate into your business operations, several factors should be evaluated to ensure suitability and effectiveness:

  • Security Features: Prioritise PPI solutions with robust security measures to safeguard sensitive financial information and transactions against potential cyber threats and fraud.
  • Compatibility: Choose a PPI solution that seamlessly integrates with your existing payment infrastructure and technology stack, ensuring smooth functionality and minimal disruption to operations.
  • User Experience: Opt for a user-friendly PPI solution that offers a seamless and intuitive experience for customers and employees, enhancing overall satisfaction and adoption rates.
  • Scalability: Select a PPI solution capable of accommodating your business’s growth and evolving needs, with the flexibility to scale operations and support increased transaction volumes over time.
  • Cost-Effectiveness: Evaluate the cost structure of different PPI solutions, considering factors such as transaction fees, setup costs, and ongoing maintenance expenses, to ensure optimal value for your investment.
  • Compliance and Regulation: Ensure that the chosen PPI solution complies with relevant regulatory requirements and industry standards, mitigating potential legal risks and ensuring adherence to best practices in payment processing.


The aftermath of demonetisation has catalysed a substantial expansion in the market for prepaid payment instruments in recent years. The proliferation of transactions conducted through PPIs has surged remarkably. 

The ease of setup and operation associated with PPIs, coupled with diverse promotional incentives offered by PPI issuers, such as cashbacks, have significantly propelled the advancement of the digital payment paradigm.