Case study: client entering Brazil market in 2023

The most frequent request that clients come to Monoup with is the payment approval ratio on their websites. There are many different opinions on this, but in practice, we use only an analytical approach and work on each case individually. The problem is known, but the individual causes can be numerous. They say, everyone is happy in the same way, but each suffers uniquely.

Today, we will share one of the many cases of our clients. We won't disclose detailed figures and company names due to NDA agreement, but we will tell you what to expect from working with us.

Client request

A new product in Latin American market approached us for help after unsuccessful attempts to solve their payment approval problem on their own. While new users were coming in daily, the product was far from being profitable. Instead, the website experienced a significant drop in the approval ratio of all payment systems (they had three of them for incoming payments) and a steady stream of failed payment requests over several months.

The task was to identify the reasons behind the low success rates of payments and propose solutions to address the situation. The main market was Brazil, and entire issue of PIX particularly piqued our interest, as this method typically has fewer problems and merchants rarely complain about its functionality. What could be the problem here?

This is in contrast to P2P payments, for example, as there is often a room for new complications and several hypotheses to test immediately. Nevertheless, with our diverse product experience, not just in payments, we decided to take on this challenge and try to solve it.

How we approached it

Firstly, we collected raw data to build our own analytics for the project. Often, the existing analytics system is not suitable for investigating all the necessary cases, so we always gather our own set of indicators from the available data. Working with startups, it's worth noting that sometimes there is incomplete data collection, and therefore we cannot rely solely on in-house analysis.

After this, we were able to accurately assess the situation and see the real metrics. Payment structure was consistently low quality, with approval rates occasionally rising to 50% for a day or two and then dropping back to 27-30%.

Based on these data, we developed several user cases to test. Simultaneously, a product specialist conducted tests on the website and entire payment cashier. Since it was not possible to rule out technical issues without verifying that they did not really exist.

As a result of the tests, we were convinced that project had no technical drawbacks, but it was poorly assembled in terms of payment usability and lagged behind competitors in some key areas. There were also shortcomings on the part of payment providers and incorrect settings. As part of the study, we conducted an analysis of several main competitors and proved our point to the client using examples from our experience and from the market to support the hypotheses with real facts.

After the problems we found were resolved, approval rate increased, but not as much as client expected. Therefore, we continued working with the client in another direction. Specifically, we bring a traffic specialist and anti-fraud manager. Then we found a number of other problems related directly to traffic and risks. This once again proves that an online casino is a single organism and only comprehensive work on all aspects can fully influence its growth. Undoubtedly, there are more and less problematic areas, as each product is individual; but closing your eyes to everything and looking only at one point is definitely not the right approach. This mistake is often made, especially with payment systems, when it seems that they are the root of all problems. In reality, payment systems often highlight problems that are entirely different. After eliminating found issues the approval ratio found its place at 85%+ and reached 87-90%.

At the same time, we want to note that we did not replace payment providers on the website. They remained the same throughout the process, and the results changed regardless of the PSP providers. We often hear advice that if the approval ratio is low, you just need to change your payment system. While sometimes this can also be the case, but not every time. And this was definitely not the case. Therefore, to find the cause of problem, we had to work hard for several weeks. Therefore, relying solely on this advice is extremely wrong tactic.

Why to contact us for same or other payment issues

Firstly, because we do not use a standard approach for all clients. In a consultation with us, you will not receive a PDF file with a list of standards «super-methods to increase approval ratio». This is precisely why all our work begins with analytics, and our clients already know that we do not believe in words, but only in numbers.

We do not promise a perfect result or a perfect path to that result, but we provide realistic timelines and achievable goals. If someone promises you a 100% payment approval rate, you may want to run away from such a provider or consultant. Yes, we do our job well and strive to do it even better, but no one has yet managed to jump beyond the bounds of reality.

We have no bureaucracy and no confusing pricing. All prices are disclosed before the start of collaboration, and in the case of hourly payment, we always provide a time estimate.

What exactly can we do for you?

• Optimize payment approval ratio and everything related to it. Work in this direction can be challenging, but we definitely know its result. Regardless of whether you have recently started business or have been doing it for a while and have already learned a lot on your own, we have something to offer you.
• Build everything correctly from the start. Since we help with the opening of legal entities, Monoup can launch your project turnkey. We can open a company, bank account, set up payment systems, and provide recommendations or assistance in implementing the website itself.
• Open accounts in banks, EMIs, crypto exchanges, or other financial institutions for your company. We handle all compliance and deliver a ready-to-use account.
• Test payment systems and methods, flow, and technical paths to achieve a “wow effect" at the end.

We work with business in iGaming, affiliate marketing, crypto; with gaming platforms and other IT businesses. To contact us, text us email or use Telegram!