Online transactions have become many businesses’ lifeblood in recent years. And when the underlying technology works well, they can drive both revenue and customer loyalty.
But in any ecommerce transaction, there are many possible points of failure where something can go wrong, either from a technical point of view or in terms of a customer encountering enough friction to make them abandon their purchase. Consider the volume of online transactions, and it’s clear that the potential financial losses from even a small proportion of failed payments could end up having a significant impact on a company’s overall revenue.
Regularly monitoring transaction data can provide insights into potential issues or friction points