How do you measure payment processing performance for international transactions?

1 Conversion rate

The conversion rate is the percentage of visitors who complete a purchase on your website. It is a measure of how well your payment service matches the preferences and expectations of your target audience. A high conversion rate means that your payment service offers a smooth and convenient checkout experience, supports multiple payment methods and currencies, and minimizes friction and errors. To measure your conversion rate, you need to track the number of visitors who initiate and complete a payment on your website, and compare it across different regions, currencies, and payment methods.

2 Acceptance rate

The acceptance rate is the percentage of payment requests that are successfully authorized by the issuing bank or card network. It is a measure of how reliable and secure your payment service is for different markets and currencies. A low acceptance rate means that your payment service faces a high risk of fraud, chargebacks, or compliance issues, or that your payment service provider has poor network connections or technical capabilities. To measure your acceptance rate, you need to track the number of payment requests that are approved and declined by the issuing bank or card network, and compare it across different regions, currencies, and payment methods.

3 Processing time

The processing time is the duration between the moment a customer initiates a payment and the moment the payment is confirmed by the payment service provider. It is a measure of how fast your payment service is for different markets and currencies. A long processing time means that your payment service has a low performance or scalability, or that your payment service provider has a high latency or downtime. A long processing time can also affect your conversion rate and customer satisfaction, as customers may abandon the checkout or cancel the order if they have to wait too long. To measure your processing time, you need to track the time elapsed between the payment initiation and confirmation events, and compare it across different regions, currencies, and payment methods.

4 Processing cost

The processing cost is the amount of money that you pay to your payment service provider for each transaction. It is a measure of how cost-effective your payment service is for different markets and currencies. A high processing cost means that your payment service provider charges high fees, commissions, or exchange rates, or that your payment service involves multiple intermediaries or complex procedures. A high processing cost can also affect your profitability and competitiveness, as you may have to pass on the extra costs to your customers or absorb them yourself. To measure your processing cost, you need to track the total amount of fees, commissions, and exchange rates that you pay to your payment service provider for each transaction, and compare it across different regions, currencies, and payment methods.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?