To give a better understanding into consumers’ purchasing behaviour to a merchant, PayU India has released a new version of its merchant facing dashboard. The new platform includes an exciting analytics tool which makes data representation not only easy to understand but helps merchant deep dive into conversion rates, payment method and device preferences, card vault usage, refunds, offers etc.
PayU India has listed the following feaures of its new mercahnt dashboard in its press release:
When the merchant clicks on Payment Methods – all the information regarding the relevant payment method for the selected period are displayed at the top. It will show the total number of payments, success rate and what percent of the payments happened through net banking or credit/debit cards, cash cards or PayUMoney.
The merchant can click on a specific payment method to get the information about total no. of transactions, rate of success, failure etc. for each of the net banking options.
PayU is the first aggregator in India to offer issuing bank downtime API. PayU has developed a proprietary algorithm to detect downtime of card issuers, based on the mapping of Issuer Identification Numbers. Merchants can use this API to alert the customer on their payment page if a card issuing bank is down and ask for their email/phone for sending a notification when the bank is back up. PayU has developed a similar service for detecting netbanking downtimes.
Every merchant has to deal with returned goods and of course, refunds. The refunds tab in the analytics tool helps breakdown refunds as the total number of refund requests stored, the number of successful refunds, the number of pending refund requests’ and finally, the number of failed requests.
To understand customer segmentation on devices they use, i.e. to know if the customers are using PCs, laptops, mobile phone or tablets to make payments for their transactions, PayU’s analytics tool will be able to filter transaction data by Web, Mobile, Domestic, International, IVR, SI, Email Invoice, etc. to get deeper insights into the customers’ payment patterns. The merchants can compare success rates of different payment methods and check distribution of their Mobile and Desktop transactions. This presents an excellent opportunity for merchants to tap into the still green space of mobile payments.
