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

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

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

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.

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