Zone Startups FinTech Friday

A meetup on the design process in payment apps and tracking conversions.

Arunkumar S Jadhav


Science And The Art of Improving Payment Conversion

Submitted Feb 13, 2017

“Payment Conversion” is the ratio of the number of successful payments to the number of payment attempts. It plays a critical role in the success of a product and influences the sustainability of business. If a product delivers a seamless payment experience to first time customer, then the business will enjoy good retention rate. While product managers and engineers do realize the importance of high conversion rate, there is no systematic plan to achieving that. As a result, conversion improvement exercises, unfortunately, end up being the snake-oil job and random hit-or-miss changes. This talk goes in depth into aspects - product, technology, and design - of funnel improvement and presents a recipe for delivering a magical customer experience in payments. The focus here is on Indian consumer ecosystem, specifically second-factor authentication; mobile users and working with not so good internet speeds.


1) Motivation: Impact of payment funnel on cohorts and customer retention rates.
2) Survey of the current payment experience landscape.
3) Factors that influence funnel conversion; product, design and technology.
4) Deep dive into each of the above areas (Product, Design and Technology).
5) Card store service.
6) Fraud prevention system.
5) A few unconventional ideas.
6) Concluding remarks and predicting the future :-)

Speaker bio

Arun is the ex-head of Payment Infrastructure Engineering team at FreeCharge which processed the payments of FreeCharge and SnapDeal and hundreds of other third party merchants. The payment processing platform, along with the PCI certified card store service, is one of the largest in India in terms of volume of transactions. Besides technology he also played a key role in shaping the payments experience at a design and product level.



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