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~ Ingenico, a Worldline brand ~

delight customers. It can also act as an early warning system, Along with all these steps in the payment chain, an
allowing merchants to spot issues causing failed payments optimized configuration can make or break your customer’s
and rectify them. experience and your business’ success. Clear, insightful
payment data can help you identify the reasons why
transactions are failing, in
what stage of the payment
funnel the issues are occurring
and, most important of all,
how to remedy it so your
customers can successfully
complete their purchases.

Conclusion
To effectively identify
and rectify issues with the
payment funnel, payment
data needs to be aggregated,
collected in a single place and
organized in a transparent
way that makes it easy for
merchants to derive actionable
Let’s take the payment method as an example. Selling insights.
online means you can sell to anyone in the world. However,
if you don’t let a customer pay with their preferred payment Ingenico’s Business Intelligence tool MyPerformance
method, they won’t convert. And while credit cards are still platform provides simplified insights into transaction data
dominant as a payment method globally, every market has a across the payment process, using intuitive dashboards to
local payment method that buyers prefer. display key payment performance metrics over time. It gives
you instant access to key
metrics like location, average
transaction value, conversion
rates, and many, many more.

Armed with this data, you
can understand the aspects
of your payment funnel that
aren’t working for customers.
It can help you identify where
to focus your optimization
efforts, so you can streamline
conversions and drive more
sales. Once you know what
the problem is, solving it
becomes much easier. ••

Beyond the aforementioned reasons customers might
abandon the payment page, there are numerous reasons why
a transaction can fail even after the customer submits their
payment details. Consider the authentication stage, in which
the buyer has to prove they are who they say they are, an
additional step that adds friction to the customer experience.
Then there are the fraud prevention measures performed
by issuers and acquirers that in some circumstances reject
genuine transactions. Not to mention simple things like
the fact that issuing banks will decline a transaction if the
customer does not have enough funds in their account.

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