Control Credit Card Processing Using Pre-defined KPIs
The number of customers willing to pay for accepted products and services online is increasing every year. Therefore it is important for an organization to use online credit card payment solution along with traditional merchant accounts.
It has been proven that businesses that except credit card payments typically have higher sales than those that do not accept credit cards. It also helps organizations establish a professional image and generate a feeling of trust among potential customers.
Most businesses take advantage of a third party credit card processor, providing real-time processing capabilities, online virtual terminals for entering manual transactions, as well as the ability to set up recurring billing.
Why do business professionals choose ready-to-use KPIs?
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
- Can a business professional research KPIs on his own?
- How do I avoid typical problems with KPIs?
- Is ready-to-use KPI applicable in my niche?
- Is KPIs' price affordable?
- Can KPIs can be easily integrated in any business environment?
- How can KPIs make the difference to the business?
What are the benefits of Credit Card Processing metric:
- When dealing with credit card processing, companies always have to deal with risks. So, evaluation of safety and information protection measures will improve system stability and security.
- Financial measures in this Balanced Scorecard are also important: expected revenue or expected loss.
- Evaluation of credit risk is a cornerstone of every strategic management campaign for a financial institution.
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More ideas on using Credit Card Processing KPI
It would not be an exaggeration to call 'credit card processing' a rage these days. This payment option is advantageous for both the payers and chargers as significant time and cost savings occur in the process. Besides this, the fact that a given organization accepts credit card usage portrays a professional impression about the company.
Owing to the advantages brought by this payment mode, it is being accepted with all the interest by companies. A combination of merchant accounts along with credit card transactions' option is employed by organizations to facilitate the payments issues.
However, the area of credit card payments is a technology intensive field as functioning in an electronic area demands flawless back-ground construction studded with sophisticated, and often complicated network devices and tools. This is because 'a click here or a click there' can open a can of worms for the management team.
Therefore, this virtual world of electronic card payment has to be tackled in its own manner.
A balanced scorecard to gauge the processes that occur in the way of this plastic money usage is an efficient way to keep track of how the operations have been occurring.
One can pen down the indicators relating to equipments and services used in the process and be assured of the wellness of the complete procedure.
More useful information for Financial Estimation
- Related metrics and KPIs for: Retail Sales, Sales, Credit Risk, Retail Banking, Mortgage, Financial Statement Analysis, Market Risk, Financial Risks, Operational Risk, Active Portfolio Management, Passive Investments.
- Customers who viewed this item also viewed: Cost Management | Service Outsourcing.
Credit Card Processing Evaluation Balanced Scorecard Screenshots
Metrics for Financial Estimation
This is the actual scorecard with Credit Card Processing Performance Indicators and performance indicators.
The performance indicators include: credit card processing, credit risk, expected loss, probability of default, expected exposure, loss given default, types of payments, web portal, mobile device, post mail/ phone order, retail store, service quality, average approval rating, account setup time, customer satisfaction, cost, startup cost, avg. cost per month, statement fee, transaction fees, average discount rate, transaction fee, address verification fee
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