The Payment Industry's Hidden Data Challenge

The Unseen Value of Authorised Rates

Payment leaders agree on top priorities. However, they struggle to act on these goals. A recent survey revealed a significant gap. This issue stems from a lack of access to crucial payments data.

This data, known as authorised rates,is often overlooked. It holds vital information about transaction approvals and declines. Without it, businesses cannot fully understand their payment performance. This leads to missed opportunities for improvement.

The survey, conducted at Money20/20 Europe, polled 250 senior payment and fintech executives. It highlighted a universal desire for better payment outcomes. Yet, many admitted they lacked the tools to achieve this. The problem lies in the current data infrastructure. Most systems do not provide detailed authorised rates. This makes it impossible to pinpoint issues like false declines. Businesses lose revenue and customers due to these hidden problems. Understanding why transactions fail is key to fixing them.

Why Do Businesses Struggle to Access This Data?

The core issue is how payment data is structured and shared. Many payment processors do not expose granular authorised rate data to their clients. This information is often buried within complex systems. It requires specialized tools and expertise to extract. Furthermore, there's a historical focus on aggregated data. This provides a high-level view but misses critical details. The industry needs a shift towards more transparent and accessible data. This would empower businesses to make informed decisions.

The lack of this data creates a significant competitive disadvantage. Companies cannot optimize their payment flows effectively. This impacts customer satisfaction and profitability. Future success in the payments industry will depend on unlocking this hidden data.

Frequently Asked Questions

What are authorised ratesin payments? Authorised rates refer to the detailed data on whether a payment transaction was approved or declined. This includes reasons for declines, which are crucial for understanding payment performance.

Why is access to this data important for businesses? Access to authorised rates allows businesses to identify and fix issues like false declines. This helps improve transaction success rates, reduce lost revenue, and enhance customer experience.

What is preventing businesses from accessing this data? The data is often difficult to extract and analyze due to current system limitations and a focus on aggregated reporting.