False declines are becoming more common
Our original research revealed that 25% of consumers experience at least one false decline, and 36% experience two or more false declines yearly. Even when given the opportunity to try the transaction again, only 22% of customers will do it.
Customers have no patience for false declines
Over 40% of customers will never shop on a site again after they’ve experienced a false decline, and over 30% will complain on social media, which can further damage the company’s reputation. The reality is, about 65% of false declines are legitimate orders. That means companies are turning away a large number of good sales and sacrificing their brand at the same time.