This page serves as a guide to the terminology Bolt uses for its metrics. You will see some of these items displayed on the Overview page of the Bolt Merchant Dashboard.
Cart Abandonment Rate
Cart Conversion Rate
Checkout Conversion Rate
Fraudulent Chargeback Rate
Non-Fraudulent Chargeback Rate
Order Approval Rate
Site Conversion Rate
Authorization Rate — Total number of bank authorized payments, divided by the total number of payments submitted.
# authorized payments / #payment submits
Authorized Payment— The issuing bank deemed the payment attempt legitimate and agreed to fund the payment request.
Bolt Fees — Total dollars paid for Bolt Checkout, plus the total dollars paid in Bolt Fraud fees.
$ paid to Bolt for checkout + $ fraud fees
Cart Abandonment Rate — Total number of users that added items to a cart without purchasing, divided by the total number of users that added items to a cart.
# users add an item to cart without purchase / # users add an item to a cart
Cart Conversion Rate — Total number of transactions, divided by the total number of cart views.
# transactions / # cart views
Checkout Conversion Rate — Number of authorized payments divided by the number of checkout starts.
# Authorized payments / # checkout starts
- Note — The checkout starts when a customer clicks the Checkout button.
Fraudulent Chargeback Rate — Total dollar amount of fraudulent chargebacks, divided by the total dollar amount of gross sales.
$ fraudulent chargebacks / $ gross sales
Gross Sales — Total dollar amount of transactions after any fraud review of authorized payments, if any review occurs. In other words, this is the gross total of payments; adjustments such as refunds are not included.
$ of transactions after any review (if any) of authorized payments
Issuing Bank — An Issuing Bank, also called an Issuer, is the bank of the cardholder and is responsible for authorizing payments. It is further responsible for paying the merchant's bank, called an Acquiring Bank, for the goods and services the consumer purchases.
Non-Fraudulent Chargeback Rate — Total dollar amount of non-fraudulent chargebacks divided by the total dollar amount of gross sales.
$ non-fraudulent chargebacks / $ gross sales
Order — An order occurs when a shopper completes checkout (clicks ‘Pay’). That order is the initiating event of a transaction.
Order Approval Rate — Gross sales divided by gross sales plus the dollar amount of orders that are rejected because of suspected fraud after the issuing bank has authorized the payment.
$ gross sales / ($ gross sales + $ fraud rejected orders after bank authorization)
Site Conversion Rate — Total number of transactions, divided by the total number of unique sessions.
# transactions / # unique sessions
Transactions — Total number of transactions after any fraud review of authorized payments, if any review occurs.
# transactions after any fraud review (if any) of authorized payments
- Note— For purposes of clarity ‘Transactions’ in this glossary refers to completed orders only.