DIGITAL BANKING
Looking beyond traditional metrics like conversion rates, what novel KPIs or measurement frameworks are you using to evaluate the true quality of your payment experiences?
JP Lips, CEO, DNA Payments Payments are a means, not an end – a user has something else they’ re trying to achieve, whether they’ re making a purchase or paying a bill or signing up for a subscription. So the best payment process has to be fast, it has to be robust, and it has to be invisible and utterly forgettable for the consumer.
Measuring that doesn’ t have to be complex: How many seconds is it taking a payment to complete? For an online payment – how many clicks are involved? What are the authorisation and success rates?
Those KPIs give us a proxy for the overall quality of the payment experience. But the end goal is to make the payment invisible.
Arnon Borensztajn, Head of Enterprise Platform, PayU GPO We take a data driven approach to continuously refine our strategies to optimise payment processing, reduce friction, and ultimately enhance customer satisfaction. Going beyond traditional KPIs also means we get a clearer picture of the effectiveness of the payment flows designed.
Aaron Holmes, CEO of Kani Payments: What we’ re seeing is a significant efficiency gap that’ s holding back innovation in payments. When companies spend up to eight weeks a year on reporting tasks, that’ s time and resources diverted from growth and development. This isn’ t just a back-office problem – it directly impacts the frontend customer experience. Every hour spent manually reconciling data is an hour not spent improving user journeys.
The payments industry faces a hidden productivity crisis. Our research shows companies dedicate 142 hours per year – the equivalent of 18 working days – to mandatory card scheme reporting alone. This number rises to 184 hours annually for those managing multiple scheme requirements, which is a full working month that could be reinvested in customer-facing innovations.
Data accuracy isn’ t optional in payments – it’ s fundamental to customer trust. Our latest survey revealed that 64 % of organisations frequently encounter data errors and anomalies in their reports. These same inconsistencies can manifest in customer-facing services, eroding confidence in what should be a seamless experience. The connection between back-office data integrity and front-end reliability is one that companies can’ t afford to test.
The way payment companies manage financial data directly shapes front-end UX, from the reliability of
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