The payment link in its essence represents a form of request to pay, allowing the information on payment data to be sent to the payer by a hypertext link. Its use does not require connection to back-end bank systems, therefore it is the most simple way of payment implementation online.
The payment link is primarily designed to share payment data between clients in mobile chatting applications. A payment generated via a payment link is always authorised as set up in a banking application or internet banking. The transfer between accounts is processed within standard maturity dates.
It is individually also possible to create a concept similar to the payment link, however involving multiple banks means more benefits for the clients. Due to unified standards, clients will be able to exchange payment information, not depending on where the bank account is held. The payment link's potential will fully unveil once instant payments have been introduced.
Payment Link Standard
The Payment Link Standard is a technical document signing the payment link implementation. The document explains mainly the use of the standard, technical specifications and recommendations for its generation. The standard, created by the Slovak Banking Association in cooperation with its members, is a necessary precondition for implementing payme services.
Use of the Standard
Generating and sharing a payment link in line with the standard is not limited to obtaining a permit or licence. Any subject can carry out these activities.
Standard accession, linking the payment link with the banking application, is allowed for all licensed payment institutions active in the Slovak Republic. Use of the standard is voluntary for members of the Slovak Banking Association. For more information on standard accession, do not hesitate to contact us.