Page 13 | November 2021
Step 1
Work with the merchant’s processor, gateway and fraud provider to gather the relevant data.
Step 2
Benchmark approval rates against best-in-class performance based on merchants with a similar transaction profile.
Step 3
Conduct granular analysis of transaction-level data to identify instances of false declines, why they occur and which supplier is responsible.
Step 4
Work directly with the supply chain to address problem areas.
Step 5
Continue to monitor approval rates on an ongoing basis.
By utilizing a data-driven approach, merchants can measurably improve their payment strategy. In CMSPI’s experience, approvals optimization processes can depend on a variety of factors, but it can typically yield huge uplifts in revenues. Most of the time – with some notable exceptions - the entire payments supply chain benefits from identifying and addressing the underlying causes of false declines. Due to challenges around communication, and transparency, merchants and their payments partners often lack the data to address the root of the problem. By leveraging its independence and data insights, CMSPI’s work removes the trade-off between costs and revenue in payments.
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