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Conversion Optimization with Realtime Payment Analytics 19.11.2014 Conversion Summit İstanbul 1 https://www.iyzico.com
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Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Jul 02, 2015

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Hakan Erdoğan

Conversion Optimization with Realtime Payment Analytics - 2014-11-19 - Conversion Summit - Swiss Hotel Bosphorus, Istanbul Turkey

GOAL: To Increase Conversion
- Minimum page transition
- Minimum click
- Minimum distracting elements
- Maximum information
- “Above the fold” concept
- Page performance
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Page 1: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Conversion Optimization with

Realtime Payment Analytics

19.11.2014

Conversion Summit

İstanbul

1https://www.iyzico.com

Page 2: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Predefined and Sequential Life:

Birth, School, University, Consultancy, Corporate Career, ...

2

@hakanerdogan

Life with Entrepreneurship:

Uncertain, ups and downs, stressfull, enjoyable, passionate, roller-coaster ...

1981 2005 2007 2012

2014Feb

2014Nov

iyzico

https://www.iyzico.com

Page 3: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

3

Payment Systems Experience, Since 2007

Credit / Debit Cards :- EST / Asseco- Garanti Bank GVP- YKB Posnet

EFT / Wire Transfer:- Integration of

Internet Banking

https://www.iyzico.com

Page 4: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

E-commerce Steps and Flows

4

SEO

Adwords

Affiliate

SEM

1- Traffic

$ $ $

Product Image

Add to Basket

E-commerce Site

Product Info

4- Add to Basket2- Registration

E-mail

Name

Surname

Password

Password (re)GSM

Sex

+90

Reg. Form

M F

Register

3- Desire

Search, browse, find

women shoes Search

https://www.iyzico.com

Page 5: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

E-commerce Steps and Flows

5

5- Basket Page 6- Address Page 7- Checkout Page

https://www.iyzico.com

Product 1

Product 2

Product 3

Proceed >>

Total : 100 TLShipment: 6 TLDiscount: 16 TLFinal: 90 TL

Address 1

Address 2

Proceed >>

Add New Address

Complete Payment

Name Surname

Card Number

Expire Year / Month/

CVC

8- Success Page

E-commerce Site

Payment Success !

CONVERSION

Page 6: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Conversion

6https://www.iyzico.com

SEO

Adwords

Affiliate

SEM

1- Traffic

$ $ $

8- Success Page

E-commerce Site

Payment Success !CONVERSION

Page 7: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Basket Conversion

7https://www.iyzico.com

8- Success Page

E-commerce Site

Payment Success !BASKET CONVERSION

…5- Basket Page

Product 1

Product 2

Product 3

Proceed >>

Total : 100 TLShipment: 6 TLDiscount: 16 TLFinal: 90 TL

Page 8: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Checkout Page Conversion

8https://www.iyzico.com

8- Success Page

E-commerce Site

Payment Success !CHECKOUT PAGE CONVERSION

7- Checkout Page

Complete Payment

Name Surname

Card Number

Expire Year / Month/

CVC

Page 9: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Conversion of What ?

9https://www.iyzico.com

CONVERSION

BASKET CONVERSION

CHECKOUT PAGE CONVERSION

Page 10: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

How to Increase Basket Conversion Rate

10

Address(Delivery/Invoice)

Selection

Basket –Product

Selection

Payment Method Selection

PaymentResult

SUCCESS = CONVERSION

SHOPPING CART ABANDONMENT

%65+ *

* http://www.ritholtz.com/blog/2012/05/shopping-cart-abandonment/* http://baymard.com/lists/cart-abandonment-rate

GOAL: To Increase Conversion

• Minimum page transition

• Minimum click

• Minimum distracting elements

• Maximum information

• “Above the fold” concept

• Page performance

https://www.iyzico.com

Page 11: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Minimum Page Transition and Click

11

Max. 3 pages

No name surname, bank selection, card type (visa, mastercard, amex) selection

If there is only 1 address then skip address page

Do not use 3DS in possible

Expire Month & Year is asked before CVC2 and formatted as 08/17

https://www.iyzico.com

Page 12: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Minimum Distracting Elements

12

No Menu, banner, logo, ads, basket items are clear

Additional info is given in modal/lightbox without leaving page

Clear header and no links

https://www.iyzico.com

Page 13: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Maximum Information

13

Clear breadcrumb

Card logo, bank, and association is displayed

Basket and address summary is displayed

All banks installments and given card installments are displayed

CVC2 and 3DS information is given

https://www.iyzico.com

Page 14: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Above the Fold Concept

14

Visible area of page

Buttons and links are placed in the visible area of the page

https://www.iyzico.com

Page 15: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Design of Card Payment Page

15

Syntactic and SemanticValidations

• Length validation

• Numeric input validation

• 3DS supported card validation

• Debit card installment validation

• BIN validation and not existingVirtual POS – installment validation

• …

e.g.: Card Number• 15 or 16 digits, • CVV/CVC 3 or 4 digits, numeric• Luhn Algorithm check

https://www.iyzico.com

Page 16: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Distribution of Payment Errors

• 20 – 25 % of payment requests are failed

• Roughly 1/3 of those failed payment requests are caused by “insufficient funds– not enough limit” (33 – 38 %)

• Other Payment Errors:

o General declined (15 – 18 %)

o Invalid expire year or month (10 – 12 %)

o Invalid CVV / CVC (2 – 3 %)

o 3DS not supported by card / bank

o Card does not support installment

o Can not proceed, card is not allowed to internet payments

o Technical problems, …

16https://www.iyzico.com

Page 17: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Error Messages to Display

17

• Your card number is not valid, …

• Your expire year and month is not valid, …

• Your CVV / CVC2 is not valid, …

• Your card does not support installment …

• You can not make installment payments with debit cards, …

• Your card limit is below the payment amount, …

https://www.iyzico.com

Page 18: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Major Questions

• What is your Basket Conversion Rate (Google Analytics Funnel Visualization) ?

• What is your checkout page Payment Success Rate?

• What is your Lost Turnover ?

• What are the Payment Errors that you get ?

• Do you have Proactive Monitoring to handle POS or system downtime ?

• Do you know your customers’ Payment Behaviour ?

18https://www.iyzico.com

Page 19: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Dashboard

19https://www.iyzico.com

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Live Payments Stream

20https://www.iyzico.com

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Payment Volumes

21https://www.iyzico.com

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Payments Distribution

22https://www.iyzico.com

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Payment Errors

23https://www.iyzico.com

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Proactive Monitoring

24https://www.iyzico.com

Page 25: Conversion Optimization with Realtime Payment Analytics - 2014-11-19

Thanks

25

@hakanerdogan

[email protected]

http://www.odemesistemleri.org

@odemesistemleri

@iyzico_com

https://www.iyzico.com