There were almost 1.4m fraudulent transactions that took place in the first half of 2020 in the UK, with a gross loss value of over £374m1.  While the industry is getting better at preventing such activity, it's still a huge issue affecting individuals, businesses and the economy as a whole.

While making payments is becoming easier and more convenient with mobile banking and payment apps, the need to remain cautious when transferring money online continues to be important.

Paylinks are a newer, more simple and effective way to pay someone. A Paylink is a web link which, when generated from BOPP, can securely open your mobile banking app and hold the bank account and payment details of the person you want to pay. This makes it easier to send money to the right person with the tap of a button, instead of fiddling about with account numbers and sort-codes, increasing the risk of errors.

Why would I use a Paylinks for my business?

In the UK, on average SMEs are chasing five invoice payments at any one time, amounting to an average of £8,500 and 1.5 hours per day spent on the admin2. Imagine the time saved in your business if you could simply send your customers a Paylink via email or WhatsApp, and they could simply click to pay you.  

Are Paylinks safe?

When a Paylink is generated from BOPP, the bank account details are verified by the account holders bank. Therefore if someone requests money from you via the BOPP app, you will see the account holders name, meaning that it is impossible for someone to mislead you into paying money into someone else's account.

How do I know that a Paylink is genuine?

We all know how important it is to be cautious when it comes to clicking on links and Paylinks are no different, however we have created the Link Safe Code to help you determine if links can be trusted.