When a consumer attempts to make an online payment, sometimes the payment is inevitably going to fail.
According to research on online commerce, 32% of basket abandonment can be attributed to payment-related issues (complicated checkout, credit card declined). With total cart abandonment at around 70%, this means a staggering 22% of revenue is lost because the user had issues with making the payment.
In this white paper, we take a look at why payments fail with carrier billing. These issues can be categorized into technical failures, and “consumer failures”. While the first can be easily fixed with some engineering effort, the second part is a bit more complicated and that’s what we will focus on.
In addition to providing an overview of which countries see which “consumer failures” the most, we also outline the steps that both merchants and mobile operators can take in order to reduce the amount of failed payments.
As the result of upfront planning and actionable consumer communication, merchants can recoup a substantial amount of revenue that would otherwise be lost.
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