It’s the beginning of the year, and Genome’s team already has so much news and updates to share with you! We also hope that your 2021 started great and that we can make it even better with new features and services coming out this year. Thus, without further ado, let’s see what occurred on our platform in January. Advising on how to start an online shop Due to lockdowns around the world, many retail shops had to expand their presence by diving into e-commerce. If you are thinking of following this path, but not sure how to approach it, then
Having a secure, swiftly-operating merchant account is what being a Genome’s client is all about. But there is more to managing your company’s finances than that. We are talking merchant reports – a feature that allows you to quickly access all the data you need to monitor and analyze your account’s performance.
And recently, we’ve developed four new reports. All of them are at our clients’ fingertips on Genome’s dashboard, after they start a business and a merchant account.
Find out more in the article: The difference between business and merchant accounts: what to choose.
So, here are the merchant reports our team offers:
As the name suggests, this report allows to access all the main transaction metrics. Get a good look at your transaction flow with this seamless tool, use filters to get the specific data you need.
The summary report is generated for:
- The transactions (sales, refunds, chargebacks, payouts, and others) that occurred during the current day or any other period;
- The transactions grouped by currency, card bank, card brand, card country, card type, affiliate name, merchant name, transaction mode;
- With a total row in base currency for amounts and in numbers of transactions.
Approve ratio report
This report is more specific. With it, you can get all the required understanding of the ratio for transactions run.
The filters available are currency, card bank, card brand, card country, card type, affiliate name, merchant name, transaction mode.
Overall, the report will display the calculated percentage and numbers of:
- The approved, pending, declined, errored, and filtered transactions processed;
- The transactions failed due to being declined and/or an error occurred per response-code obtained.
The report gives detailed error codes and reasons to understand why the transaction wasn’t processed and the merchant can react and make changes.
Knowing what’s the situation with chargebacks is vital to the success of your business. That’s why we made the report that tracks the list of the occurred chargeback transactions.
You can always get an in-depth analysis of this data by applying multiple filters. The filters are chargeback date, transaction id, chargeback type, transaction reference, merchant transaction ID, descriptor, user ID, user name, country, affiliate ID, phone. email, name on card, card BIN, card last 4 numbers, expiry date, card brand, card bank, card type, card country.
Moreover, the report itself contains lots of vital information, like chargeback code, chargeback reason, chargeback ARN, chargeback date, chargeback type, transaction ID, merchant name, and many others.
Once you get all the information from the report, you can start planning on how to deal with chargebacks further.
For better fraud and chargeback prevention, check out the article on how to securely accept payments online, and learn more about the benefits of PSD2 and strong customer authentication.
Chargeback ratio report
It’s a report that will determine your chargeback ratio. This metric allows you to calculate whether you got too many chargebacks by relating the number of chargebacks to all successful transactions run. Among most of the card brands, the safe chargeback ratio for a low-risk business is considered to be less than 1% of the total transaction number.
The chargeback ratio report uses the same filters as the summary and the approve ratio reports.
Keep your chargeback ratio in check with our report, and use other reports to closely follow any changes in your business performance to always be on top of your game!