Payment Analytics for Internationally Operating Online Merchants
As e-commerce continues to grow and expand globally, many merchants are now operating internationally. These merchants often face unique challenges, such as navigating different currencies, complying with different local regulations, and understanding the preferences of international customers. One way how internationally operating e-merchants can overcome these challenges is by leveraging payment analytics.
Types of payments analytics
Payment analytics is the process of collecting, analysing and interpreting data about payment transactions. This data can include information about usage of the different payment methods, the success rates of transactions, the chargeback ratios, the success rate per acquirer, the reasons for failed transactions, and many more. By analysing this data, merchants can gain valuable insights into the payment preferences and behaviours of their international customers.
For example, payment analytics can help merchants identify the most popular payment methods in different regions, allowing them to optimise their checkout process and increase conversions. Read more about popular payments methods in Europe , the Nordics, and LATAM.
Identify payment issues through analytics
Payment analytics can also help merchants identify any trends in payment failures, such as a high rate of declined transactions in a particular country. This information can help merchants troubleshoot and resolve problems, improving the overall payment experience for their customers. In addition to helping merchants better understand their international customers, payment analytics can also provide valuable insights into the payment industry as a whole. By analysing data from various sources, merchants can get a sense of industry trends and identify opportunities for growth and innovation.
Overall, payment analytics is a powerful tool for internationally operating e-merchants looking to optimise their payment processes and better serve their international customers. By collecting and analysing data about payment transactions, merchants can gain valuable insights that can help them improve the payment experience and drive business growth.
You can read more about CelerisPay’ In-Depth Reporting tools for payment analytics here. Please reach out to us for any additional information; we will be happy to answer any questions.
