For retailers, especially in e-commerce and in the fast-moving fashion industry, evaluations of their customers’ payment behaviour are essential. With good reporting, they can optimise their conversion rates and get the most out of the checkout. C&A used Computop’s new big data solution to gain detailed insights into the preferences of its online customers.
The task
With online shops in 20 countries, C&A is one of the largest online fashion retailers in Europe. Fashionistas from Helsinki to Athens can find their personalised look in the browser on their smartphone or desktop computer, as well as in the retailer’s own app. But as diverse as the continent’s cultures are, so too are people’s payment preferences.
However, one thing unites them when shopping online: they want to be able to find their favourite payment method in the shop checkout so that they can pay confidently and smoothly. To make this wish a reality, C&A has been working with Computop for over ten years. The online shop is connected to the most important wallets, international credit card companies and local payment options in numerous countries via a single interface. A complex risk management system ensures that payments are secure and trouble-free for both customers and the company.
Good monitoring is essential to ensure that as few payments as possible are rejected without authorisation. It must therefore be possible to display the key performance data of the payment methods in a clear analysis and compare them over time in order to identify deviations at an early stage and rectify their causes.
COMPUTOP 360 HAS BEEN A GREAT SUCCESS IN OPTIMISING OUR PAYMENT TRANSACTIONS. THE COMPUTOP TEAM ALSO MADE A MAJOR CONTRIBUTION TO THIS WITH THEIR EXPERT SUPPORT.’
Julia Spolwind, International Digital Payment Manager, C&A
The solution
The Payment People presented Computop 360, a new cockpit for analysing payment transactions, at their Paygate Connect 2023 customer event. C&A became aware of the solution there and decided to take part in the market launch as a pilot customer.
The special feature of Computop 360 is, on the one hand, the clear presentation of transaction behaviour over the selected term, which allows a view of individual transactions up to six months in the past. On the other hand, the necessary parameters for precise analyses can be selected with a simple click and the associated analyses are updated immediately.
The most important key figures at a glance
The conversion rate over the entire checkout is displayed at a glance on the start page and its values are categorised qualitatively. The colour coding shows directly whether payment transactions are ‘in the green’ or whether there is a need for optimisation. A table provides information on the values of individual payment types. Further analysis sheets enable a more targeted portfolio analysis or link to a special dashboard for analysing credit card transactions.
C&A was also able to use these functions to analyse the payment methods in the individual country shops and identify potential for optimisation. Julia Spolwind, responsible for payment reporting, confirms: ‘Only with a targeted analysis can you find the optimal mix for your customers!’
The result
Computop 360 was used to scrutinise the payments of the various online shops and look for opportunities for improvement. Individual payment methods actually had potential for a higher acceptance rate. For example, the Dutch online bank transfer iDEAL was able to increase its conversion rate by 15% over 5 months. Other payment options were able to achieve significant increases within just two weeks.
Precise analysis provides valuable insights for developers
Crucial to the success of the measure: ‘The transparency we were able to achieve with Computop 360 allows us to optimise performance,’ confirms Julia Spolwind. The insights gained from the evaluation helped the developers to optimise the assignment of data fields. Improved consideration of special characters in Eastern European countries, for example, helped to optimise address allocation in risk management. The transfer of the device type also contributed to a higher acceptance rate. The granular analysis of error codes also provided valuable insights.
‘To summarise, we can say that Computop 360 has been a great success, to which the Computop team has also contributed greatly with its expert support,’ confirms Julia Spolwind.
Computop’s payment people are also pleased about this – and look forward to many more enquiries from retailers who want to optimise their checkout monitoring. So that nothing stands in the way of their customers’ shopping experience.