Gain deeper visibility into your payment performance with the Merchant Performance Dashboard. Track success rates, identify decline patterns, and discover insights to help improve your revenue.
Overview
The Merchant Performance Dashboard presents analytics that enable subscription businesses to follow their payment performance via payment success rates, decline reasons breakdown, and other KPIs. It helps businesses understand why some subscribers had their payment rejected. The dashboard also provides insights into areas of strength and potential improvement. By visualizing key metrics over time and comparing them to industry benchmarks, businesses can identify trends, optimize processes, and improve overall payment success rates.
Key Features
- Payment Success Rates: Allows assessment of the payment acceptance efficiency for both recurring and initial payments (separately). Compares success rates to industry standards.
- Granular Visualization over Time: Provides a visual overview of successful recurring and initial payments and success rates (separately) on a daily basis.
- Decline Reasons: Highlights the main reasons why recurring and initial payments (separately) were declined.
- Filtered Overviews: Customizes the analysis by filtering on key data fields such as country, payment methods, or offer period.
Metrics
- Payment Success Rates: The percentage of successful payments (initial or recurring) compared to the total number of attempted payments, regardless of the number of retries.
- Industry Range: A comparison of your payment success rates against the industry average for businesses classified under MCC 4899 "Cable and Other Television Services."
- Declined Transactions: The total number of payment attempts that were rejected, categorized by specific decline reasons (e.g., insufficient funds, expired cards).
Use Cases
Streaming Company Use Case
A streaming company can leverage the Merchant Performance Dashboard to assess its recurring payment performance and track its evolution over time. By using the dashboard's filtering capabilities, the company can:
- Compare its performance against industry benchmarks.
- Analyze performance trends across multiple countries, payment methods, and customer segments.
- Identify decline patterns and implement targeted strategies to improve payment success rates.
Healthcare Subscription Business Use Case
Healthcare subscription businesses often face challenges with declined transactions. To better understand and address these issues, they can utilize the Merchant Performance Dashboard to:
- Analyze key metrics to identify the primary reasons for declined transactions.
- Compare payment performance against industry benchmarks to spot underperforming areas.
- Pinpoint optimization gaps and implement targeted strategies.
- Collaborate to adjust payment settings and improve success rates.
Getting Started
Step 1: To begin tracking your payment performance, access the Merchant Performance Dashboard from the Merchant section in the main navigation.
Step 2: Click the Merchant section to display the dashboard.
Step 3: Filter on "Period" to review average success rates over time. Once filtered, analyze the displayed data to identify common decline reasons and trends.
Step 4: Deep dive into certain areas of improvement such as specific countries or specific payment methods to better understand regional payment trends and identify areas that require optimization.
Dashboard Overview and Demo
The Merchant Dashboard demo is accessible here.
Payment Rejected Reasons
- Insufficient funds: the user does not have enough money on his bank account to pay for the transaction amount. Mostly seen in recurring transactions
- Fraud: Cleeng’s risk rules (and in some cases the AI fraud detection tool) has blocked the payment because it is seen as fraudulent. Mostly seen in initial transactions
- Declined: The issuer has declined the transaction. The reason is generally unknown, most likely related to fraud detected. Seen for both initial and recurring transactions
- CVC Declined: The CVC did not match that of the user’s card. Only seen for initial transactions since this is related to information completed on the checkout page.
- Missing payment details: some fields such as the cardholder’s name or card expiry date were not fully filled by the user, or the user has deleted some of his payment details on the subscription platform. Seen for both initial and recurring transactions.
- Payment Agreement Cancelled: the entitlement agreement giving the user access to his subscription has been cancelled since his last payment. Only seen in recurring transactions.
- Invalid Card Number: the card number filed by the user was not correct. Mostly seen for initial transactions since this is related to information completed on the checkout page.
- Potential Fraud Detected: Cleeng’s risk rules (and in some cases the AI fraud detection tool) has blocked the payment because it is seen as fraudulent. Mostly seen in initial transactions.
- Payment Method Declined: The payment method has declined the transaction. The reason is unknown, most likely related to fraud detected. Seen for both initial and recurring transactions
- Transaction Blocked (Excessive Retry Fees): The transaction has been attempted too many times following the dunning settings set. The transaction has very little chance of being captured so the PSP declines the transaction by default. Only seen in recurring transactions.
- Expired Card: The user’s card has expired
- Unknown error: Unknown decline
- Redirect to PayPal: Issuer has declined and redirected the transaction to PayPal
FAQs
Why has my success rate gone down recently?
The success rate for the last few days may be inaccurate due to data aggregation from different sources.
Why is my success rate in the low part of the industry range?
Success rate depends on many parameters, in particular the regions and countries where your subscribers pay from, the local payment method they use, etc. Your account manager can give you more insights about how you’re performing according to your specific markets. The industry range is a worldwide benchmark that does not provide a precise idea of how the industry is performing in specific markets.
Why is "Not Enough Balance" so high for recurring transactions?
It is very common to see “Not Enough Balance” being the main decline reason for recurring transactions. For example, in the USA, payroll cycles happen every two weeks, making it common for subscribers to run out of money or use a specific payment method where they have limited funds. To improve success rates, consider retrying transactions on alternative dates that align better with common payroll schedules.
Why is "Fraud" so high for initial transactions?
A: The vast majority of fraudulent transactions are detected and blocked on the initial payment attempt, thanks to the Merchant’s efficient security measures. Fraud is an ongoing issue, and we are actively working to combat it right from the start.
Why are my “success rates 1 year ago” blank?
If you have launched Merchant less than one year ago, then you won’t be able to see data for 1 year ago.