I would measure the success of our payment gateway product based on the following possible purposes and drawbacks:
Possible purposes:
1. Increasing the conversion rate of online transactions: This would be a key purpose of our payment gateway product. The easier and smoother the payment process is for customers, the more likely they are to complete their purchases and increase the overall conversion rate of the platform.
2. Reducing the incidence of fraud: One of the biggest concerns for customers when making online payments is the risk of fraud. Our payment gateway product should aim to reduce this risk as much as possible to build trust with customers.
3. Enhancing the overall user experience: A user-friendly payment gateway can significantly improve the overall user experience of the platform, leading to increased customer satisfaction and loyalty.
Possible drawbacks:
1. Transaction fees: One potential drawback of using a payment gateway is the additional transaction fees that customers and merchants may have to pay.
2. Technical issues: Another drawback could be technical issues that may arise, such as failed payments or delays in payment processing.
Success Metrics:
1. Conversion rate: This metric would measure the percentage of visitors who successfully complete a purchase after initiating the payment process.
2. Customer satisfaction: This metric would be measured through customer feedback surveys to evaluate their experience with the payment gateway.
3. Payment success rate: This metric would measure the percentage of payment transactions that are successfully processed without any issues.
Counter Metrics:
1. Cart abandonment rate: This metric would measure the percentage of visitors who abandon their carts after initiating the payment process.
2. Payment failure rate: This metric would measure the percentage of payment transactions that fail or are rejected due to technical issues or other reasons.
Ecosystem Metrics:
1. Merchant adoption rate: This metric would measure the percentage of merchants who adopt Amazon Pay's payment gateway product.
2. Platform revenue: This metric would measure the overall revenue generated by the platform, including revenue generated through the payment gateway product.