What “Good” Looks Like: Using Your Payments Data KPIs To Monitor, Benchmark, Combat Fraud, and More

Accurate and timely payments data is essential for any business attempting to optimize revenue, minimize costs, and ensure positive customer experiences. The data you and your vendors send (or don't send) with transactions directly impacts performance of those transactions. To make effective changes, you first need to know your KPIs and where you want them to be; only then can you identify the changes necessary to optimize payments and improve your bottom line!

Join us to walk through how merchants are using their data to:

• Report key payment KPIs (e.g. approval rate, cost, and chargebacks) to management.
• Analyze approval rate, chargeback rate, and vendor performance to identify opportunities to improve their payment processing strategy, such as adjusting their fraud rules, pursuing alternative debit routing, or renegotiating vendor rates.
• Regularly monitor key performance metrics (manually and automatically) to catch outages, downgrades, anomalies, and changing trends to ensure you’re not missing out on revenue, facing higher costs, or negatively impacting customer experiences.
• Benchmark payments performance against industry peers to better understand what “good” looks like.
• Analyze patterns and trends in fraudulent transactions to optimize and refine fraud prevention strategies.

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