Notice: Undefined index: action in /home/techtecn/ on line 2

Notice: Undefined index: action in /home/techtecn/ on line 7

Notice: Undefined index: action in /home/techtecn/ on line 12
How Do You Improve Your Payment App's User Retention - DAILY BELY

How Do You Improve Your Payment App’s User Retention?

In the last few years, especially after the demonetization, almost every brand has started receiving online payments through UPI apps. Customers wanted a cashless payment mode, and UPI payment apps came as the best option. These apps ended the need to keep cash completely and were quick enough to ditch the long queues. Since then, the use of these payment apps has increased considerably. Moreover, it has moved everyone towards a cashless, cardless, and contactless payment option. 

Earlier, there were very few options for the UPI transaction app. However, with time, plethoras of choices came into the market. Soon the retention over a payment app became an issue! Only the inclination of a user decides the fate of an app. While some get the most users, others started losing their hold in the market. 

Tips to improve the payment app’s user retention

If you are also facing an issue with the user retention rate of your payment app, refer to the tips listed below to attract more customers and make them stick to you. 

Improve the User Experience

The first and the most crucial thing is to focus on the user experience. Make the payment app simple enough for everyone to understand and use without assistance. Every user should feel comfortable using it, and that is the only way you can cover a large set of audiences. Understand that not everyone is tech-savvy. So, make a platform that even a novice can use. 

Reduce the customer churn

Try and find the reason behind a customer turning down your payment app. If your uninstall rate is high, it is a sign that you need to focus on your analytics! Find out what could have turned down a user and then work on improving all those things. You can conduct a survey or use the app insights to see where the customer decided to leave you. These are the areas where you need some work to ensure your user sticks to you. 

Customer Service 

No matter how efficient an app is, glitches are always expected from them. Every time there is a failed payment, the customer would want to talk to the team! It may have happened due to the poor internet connection of the user, but you need to have a satisfactory answer for them. Thus, another vital tip is to provide the best customer service to your users. This way, you can ensure they don’t leave you after the first glitch. 

Focus on Perks

Many brands and companies have started using their payment apps as marketing tools. They provide offers and discounts to the users who pay online using the UPI payment apps. You can use this as an opportunity to gain customer retention by offering the best cashback to returning customers. It will give your platform an edge over the other apps, and your user count will increase significantly. 

Target those who left

What do you do once a customer leaves? If you give up on them, this is where you are going wrong! Get the data of all those users who used the app for a good period of time and then uninstalled it. Start sending them emails or texts, alluring them with offers so that they think about returning to your UPI transaction app. It will not work for every customer, but you will definitely get many of them back!

With these simple tips, you can maintain an excellent customer retention rate. Understand that it is all about giving your customer the kind of services they expect. If you wouldn’t provide that, someone else definitely will, and your user would not have any reason to keep sticking with you. So, keep working on your platform and get the best customer retention.

Read More About Daily Bely.

Leave a Comment