This metric indicates the total number of successful payment attempts as a proportion of total payment attempts initiated.
It provides more user behavioural insights when compared with the Success Rate metric displayed on the Express Checkout Analytics Dashboard (the Payment Success Rate might appear lower than Order Success Rate/ Transaction Success Rate in Express Checkout Analytics Dashboard). This is because it factors in
- Users abandoning a payment session are included in the calculation of this metrics
- Only transaction which attain the terminal status during the payment session are considered (i.e) scenarios of delayed success are not included
It is recommended to closely monitor this metric and decreasing trend of payment success rate needs immediate attention.
The dropout rate indicates proportion of payment attempts wherein the user hits back button after landing on the payment page. A higher dropout rate could be addressed with following steps:
- Enhancing the user intent with providing payment offers and discounts
- Ensuring similarity of Order summary details displayed on Order checkout page and Payment page
It is recommended to closely monitor this metric and an increasing trend of dropout rate needs immediate attention.
Any payment attempt which does not reach the Terminal Status of CHARGED, will be marked as a Payment Error.
This includes multiple scenarios and we have categorized them into Payment Error Codes for easy intepretation and action. Please refer our error code documentation to understand and take the required actions to keep errors under control.
Total number of users performing successful transactions as a proportion of total users landing on payment page. This metric indicates the overall user intent to complete a successful payment.
The 50th percentile of time taken between user landing on the payment page to completion of transaction. An increase signifies more cognitive load on the user and might have a negative impact on the overall conversion rates.
Below are some recommendation for improving the Average Time Taken.
- Promote low latency payment methods on the Payment Page
- Leverage the QuickPay feature of Juspay SDK to surface the last used payment method of the user as a half screen widget. Around 80% of users stick to a single payment method and this can improve the payment success rates
- Enforce users to save cards, if the intent to save cards is low among users. This capability is available as a configuration on Juspay payment page.
- Subscribe to in-app user journeys of wallets. This will provide better success rates and eliminate multiple steps in payment flow compared to Link and Pay wallets and Redirection based wallets
Proportion of Bank OTP/ Netbanking pages supported for Juspay SAFE features as a percentage of total transactions. This ratio shall be close to 100% but not necessarily qual to 100%), because bank OTP/ Netbanking pages are diverse and dynamic in nature and may undergo changes on a daily basis.
As a part of Juspay SAFE product maintenance, we ensure that Juspay SAFE support is added to new/ modified bank pages in an ongoing basis.
The proportion of sessions where OTP was successfully detected from users device as a percentage of total sessions
The proportion of sessions where OTP was auto-populated on the user interface as a percentage of total sessions where OTP was successfully detected
The proportion of sessions where OTP was auto-submitted/ manually submitted by user as a percentage of total sessions where OTP was successfully populated.
The proportion of sessions where OTP was the authentication method as a percentage of total sessions. The alternate methods of authentication could be password and Juspay SAFE product will not be auto detecting, populating and submitting OTP in such scenarios
Updated 11 months ago