you need to carefully evaluate the payment solution used in your online store. It is essential that the processor releases reports that help you understand why transactions are declined, as well as having an effective anti-fraud system that performs more assertive analyses.
However, it is also important to consider that within the same sales finland mobile database there may be different overall conversion rates, depending on the payment processor used. To find out which option is giving the expected results, perform an A/B Checkout test and complete the transaction on processor A and then on processor B. Finally, compare the approval rates (valid sales) of each processor.
¹overall conversion rates = # of checkouts initiated x # of confirmed sales
Additionally, when declined payments are related to customer data, you should evaluate whether the payment methods offered meet the profile of your target audience.
This way, by following our tips, you will be able to boost checkout conversion and approval rates for your online business, build customer loyalty and further boost your sales.