Filter by Payment Method

At the top of the filter request list was Payment Method. By adding this to all our views (overview, payment list and customers), it enables platforms to answer questions like:

• Which are my most expensive payment methods?
• Which customers are using payment method X?
• Why are payments made using X so expensive?

These questions, among others have come up time and time again on calls with customers. Understanding payment method usage between customers is particularly interesting for platforms and is one step towards the customer insight features we’re building out. Knowing volumes by payment method, by customer can help platforms better price their products and understand the dynamics of their customers’ customers.

Let’s focus on the customer for a moment

You can see how powerful this becomes once you drill down into your customers, as you can quickly identify where you are losing revenue with a specific payment method:

Once you drill down further, you can then inspect the payments that have made up the overall net loss. In this case we’ll check out HipHoppy as they show a significantly negative margin, while making up 26.98% of Brewvolutions entire platform business.

Now that we have all these payments in a group, why don’t we jump one level further and see why these payments have been resulting in net losses (only picking out one here):

We can quickly see that we didn’t charge the customer a fee at all.

Even though this is of course a fictitious example we used for demonstration purposes, this can be a realistic scenario, as Brewvolution could have waived all fees for this customer to reward customer loyalty.

If this loss is not expected or calculated into Brewvolution’s pricing strategy, then this is a clear pointer for us to revisit pricing for HipHoppy and perhaps re-negotiate.

What’s next?

More filters of course. That’s the entire point!

And we’re already working with our users to decide which ones hit the dashboard next.