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October 24, 2017

Monitor the performance of payment processing in e-commerce services by tracking failure codes and using compound KPIs

Monitor the performance of payment processing in e-commerce services by tracking failure codes and using compound KPIs

It is essential to identify the payments that fail; to search for the root cause of failures; to see if those causes are sporadic; and, if they are not, to attempt prevent their reoccurrence.

Tracking failure codes

Usually, when a charge on a credit card fails, the payment service provider returns a failure code that provides some information. Ideally, each failure code is tracked by its own KPI so that a posteriori analyses can reveal the roots of the payment failures.

Compound KPIs

It’s also possible to create compound KPIs that aggregate individual KPIs per failure code into a single, meta-KPI. One way to do so would be to sum up all the payment failure reasons into a single payment failure KPI.

KPIs to measure payment failure reasons

Several instances of payment failure reasons are reported in the following table.

# Reasons
1 The customer cancelled the transaction.
2 3D Secure failed.
3 The 3D Secure server was down.
4 The card is not 3D Secure enabled.
5 The funds are insufficient.
6 The card is blacklisted.

References