At Reservamos SaaS we raised our clients’ payment acceptance rate by +15 points, reaching rates above 80%; while we kept the fraud levels and chargebacks practically at 0%. Do you want to know how we achieved it?
The holiday seasons have once again had significant flows of travelers who are eager to go out and visit their favorite destinations. And now more travelers seek to plan and complete their purchases through the digital sales channel. However, many times we find bus companies afraid to grow their eCommerce due to the challenge of accepting payments and the ability to reduce chargeback levels.
And the big question that arises when peak sales seasons arrive is, how to guarantee safer transactions for both passengers and bus companies. At Reservamos SaaS we achieve two great goals. On the one hand, so far this year the payment acceptance rate has registered a gradual growth, reaching 15 points above the average, while fraud levels have been practically 0%. Even during high season, which usually shows a drop of 3% in the risk acceptance rate compared to the number of transactions, it maintained its growth, minimizing the risks for customers.
How did we do it?
Raising online sales does not have to represent a headache for bus companies. Limiting the digital sales channel growth by fearing high fraud levels and chargebacks is a serious mistake that reduces company competitiveness. Today the market demands greater access to simple purchasing processes and from the comfort of any mobile device.
Two key factors influence achieving safer sales. First, implementing control and measurement tools for payment attempts is required. And the second factor, and perhaps more important, is the experience in the use of these tools.
This experience has allowed us to develop actions such as:
- User profiling.
- Risk control strategies before the high season.
- Creation of personalized error messages for users, which would allow them to know the reason for the failure in a transaction and follow up on it: “Insufficient funds” or “Contact your bank to review your operation”.
In Mexico, the industry-standard payment acceptance rate is below 65%. At Reservamos SaaS we have managed to raise that minimum average above 75%, reaching numbers above 80% and maintaining the percentage of chargebacks at almost 0%.
In Colombia, the average rate also went from 60% to 75%. In this case, in addition to the previously mentioned actions, we improved the funnel with the most used payment method called PSE Avanza. That made it possible to guarantee much safer and more efficient operations.
Market understanding and good risk management are essential when seeking to optimize performance in the digital sales channel.– Pamela López, Head of Payments & Risk.
At Reservamos SaaS, analyzing and improving every aspect of our eCommerce platform is essential. And the payment stage is essential during the sales funnel, as travelers choose the brands and companies with which they can connect more quickly, easily, and efficiently.
Part of our digital transformation requires having a team and talent capable of knowing and anticipating market behavior and thus proposing innovative solutions that allow us to maintain a strengthening of our clients’ eCommerce, regardless of the level of demand they have. That is why at Reservamos SaaS we have developed a technological infrastructure specially designed so that bus companies can grow their eCommerce and connect with digital travelers through them.