The Dashboard Home page
Your dashboard Home page gives you a high level view of how your business is performing. The link to your Home page can be found at the top of the left navigation on your Dashboard. Follow steps 1 - 5 in the image below to help you get familiar with your Dashboard Home page.
1. Date Range
The date range dropdown allows you to choose the date period over which you want to see data. You can select variable date ranges for:
- Today (the day you're viewing the information)
- This Week
- This Month
- the Last 30 days
- the Last 90 days
- This Year
- and a Custom Date Range that allows you to pull up data over a specific time period
2. Revenue Graph
The green revenue graph gives you a graphical representation of your transaction values during the period of the selected date range. This section also shows you the total amount of money you've earned within the specified date range (that is, the amount you'll receive in your bank account).
The difference between initiated and attempted transactions
Before we get to the sections about Success and Failure Rates, it's important to understand the distinction between Initiated transactions and Attempted transactions
An initiated transaction is any transaction that a customer begins. For example, assuming a customer was using a Payment Page, as soon as the Checkout Modal pops up, the transaction is considered initiated.
An attempted transaction, however, happens when a customer actually clicks the button to attempt send the pay instruction. This means that while all transactions are initiated, only a subset of transactions are attempted.
Please keep these definitions in mind as you read the definitions of the following metrics!
3. Success Rate
The Success Rate section tells you how many attempted transactions where successful. You can see the number of transactions, as well as the percentage success rate.
The Basic Success Rate Calculation
The success rate is calculated as follows: (number of successful transactions / total number of attempted transactions) * 100
The Basic Success Rate considers all failed transactions in its calculation. The Adjusted Success Rate, however, excludes transactions that failed as a result of customer error. For example, if a transaction failed because the customer had no money in their bank account, that failed transaction would not be part of the Adjusted Success Rate calculation. These really helps you get a sense of the factors affecting your transactions at any point in time.
The Adjusted Success Rate Calculation
The adjusted success rate is calculated as follows: (number of successful transactions / (total number of attempted transactions - failed transactions due to customer error)) * 100
4. Breakdown of Failed Transactions
This section helps you understand the most common error types for failed transactions:
- Customer Errors - transactions that failed as a result of customer errors such as insufficient funds
- Bank Errors - transactions that failed as a result of some issue with the customers' bank
- Fraud Blocks - transactions that were blocked because they failed to pass risk checks
- Other Errors - other processing errors
To the right hand side of each error type, you'll see two numbers:
- the black number at the top is the total number of failed transactions that falls into that category
- the red percentage at the bottom is the error rate: the percentage total transactions that fell into this error category
The Error Rate Calculation
The red percentage figure is is calculated as follows: (number of failed transactions from this type of error / total number of attempted transactions) * 100
5. Abandoned Transactions
Some customers initiate but don't complete a transaction - those transactions are counted as Abandoned Transactions. Since these transactions weren't attempted in the first place, they aren't factored into the Success Rate and Failure Rate calculations.
You can view the number of abandoned transactions and see how you're doing compared to other merchants. The average abandonment rate for a typical Paystack merchant is between 20 - 30%. Learn more about Abandoned Transactions: Why customers abandon payments, and what to do about it
The Abandoned Rate Calculation
The abandoned rate is calculated as follows: (number of abandoned transactions / total number of initiated transactions) * 100