Payment Apps Success Rate Study
Requirement
The client wanted to get information on success rates of payment apps and websites for online recharges and bill payments. The client had following objectives:
To determine how the client compares against its competitors against a set of parameters at each step of the customer journey
To find and analyze the improvement areas where the client lacks vis-à-vis its competitors against each of these parameters
To suggest actions the client should take to improve in those areas
To determine how the client compares against its competitors against a set of parameters at each step of the customer journey
To find and analyze the improvement areas where the client lacks vis-à-vis its competitors against each of these parameters
To suggest actions the client should take to improve in those areas
Solution
Research findings were delivered to the client as a custom report that included:
Number of recharge transactions conducted
Number of successful transactions
Success rate for recharges after payment completion
Conversion percentage
Conclusions and recommendations
Number of recharge transactions conducted
Number of successful transactions
Success rate for recharges after payment completion
Conversion percentage
Conclusions and recommendations
Methodology
We conducted research through:
Primary research:
Recruitment and training of third party recharge and bill payments vendors. The screening criteria for selecting the vendors was based on the following factors –
Vendor provided both prepaid mobile recharge and DTH services
Good knowledge on operating of recharge and payments applications and websites.
Minimum 300-400 transactions per month
Primary research:
Recruitment and training of third party recharge and bill payments vendors. The screening criteria for selecting the vendors was based on the following factors –
Vendor provided both prepaid mobile recharge and DTH services
Good knowledge on operating of recharge and payments applications and websites.
Minimum 300-400 transactions per month
Client Benefits and Feedback
The client was very satisfied with the findings of our study.
The performance analysis of the client against its competitors helped in formulating its future business strategy.
The performance analysis of the client against its competitors helped in formulating its future business strategy.