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First Quarter 2014 Release: Improvements to Help PayMotion Merchants Reach New Heights

Posted by PayMotion Marketing - April 9, 2014 in

PayMotion’s first release of 2014 adds platform improvements to help connect digital merchants with more ways to make money online. This release focuses on improvements to reduce churn, help merchants reach and convert more potential customers, improve customer satisfaction and strengthen affiliate management.

Increase Conversions with PayMotion Augmented Localized Cart

Being able to support payments in your customers’ own currency and language has a significant impact on conversions and revenue. Shoppers are more likely to abandon their purchase if the checkout process is not displayed in their native language or in their local currency.

To this end, PayMotion has added support for these ten buyer currencies: Korean Won, Russian Ruble, Turkish Lira, Mexican Peso, Israeli New Shekel, South African Rand, Thai Baht, Philippine Peso, Saudi Riyal and Moroccan Dirham. Combined, these currencies are used by over 680 million people worldwide and offer our merchants the ability to better access many more potential customers.

PayMotion is also excited to now support six new cart display languages: Czech, Indonesian, Hindi, Thai, Arabic and Vietnamese. These languages are used by over 800 million people worldwide and represent a huge market PayMotion merchants can more effectively reach.

Reduce Churn with More Actionable Data

Data is critical for growing online. Recognizing this, PayMotion is introducing four new data reports for SaaS and subscription merchants on our ecommerce platform. These four new reports include:

  • The Basic Renewal Report – a breakdown of subscription customer profile activity over a specified period including sign-ups, renewals and cancellations.
  • The Monthly Recurring Revenue (MMR) Growth Report – a measure of the predictable and recurring revenue components of a subscription base including MRR gained from renewals, new sales and upgrades as well as MRR lost from downgrades and cancellations.
  • The Term Waterfall Report – a summary of events like renewals and cancellations filtered by cohorts based on when subscribers originally signed up.
  • The Subscription Retention Report – an analysis detailing the percentage of subscribers retained each billing period based on cohorts of when subscribers first signed up.

Each of these reports provide different data points so recurring revenue merchants can know where they need to focus their efforts to minimize churn and maximize revenues.

One Click Upsells

One-click upsells enable merchants to easily increase their average order value and earn more revenue. With PayMotion, merchants can choose to offer customers related products after shoppers have already committed to a purchase for an initial offer.

One click is all that’s needed from a buyer to agree to the additional offer and the amount is automatically added to their original charge. Alternatively, if a buyer declines the additional offer, the original purchase will still complete, minimizing any potential impact on cart conversion. Therefore, merchants can grow revenues with little risk to conversion rates.

Manage Customer Satisfaction with Partial Refunds

For customers who cancel their subscription partway through a billing cycle or expect part of their payment refunded for another reason, merchants now have the option to easily issue partial refunds on demand through the sales tab. Have more options to ensure your customers have the best experience possible with every aspect of your product.

These are just a few highlights of the many new features available to our merchants in this release. For a complete list, contact our merchant support team at merchants@paymotion.com.

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