Definition
Drop off rate refers to the percentage of users who start a payment or checkout process but do not complete the transaction.
How this works
It is calculated by comparing the number of initiated transactions with the number of completed transactions over a specific time period.
Benefits
- Helps identify checkout issues
- Improves conversion optimization
- Enables data driven UX improvement
- Reduces revenue leakage
FAQs
What causes a high payment drop off rate?
Technical failures, slow checkout, limited payment options, OTP delays, or poor user experience.
How is drop off rate calculated?
Drop offs divided by total initiated transactions multiplied by 100.
Can smart routing reduce drop offs?
Yes. By improving authorization success, fewer users abandon payments.
What tools help track drop off rate?
Analytics dashboards, payment gateway reports, funnel tracking tools, and A/B testing insights.