You can display discount and cashback offers on Payment Links. To do this, while creating the offer on Razorpay Dashboard, enable the Checkout Visibility option.
Offers on Payment Links
Provide offers to customers making payments using Payment Links.
Using Razorpay Offers, you can provide discounts or cashback on Payment Links issued to customers. You can restrict the payment methods on which the Offers are applied and limit their usage to a defined period.
Watch this video to see how offers appear for Payment Links.
Currently, this feature is not available for UPI Payment Links.