Payments Economics Health Check

How to use this framework: For each question, score 2 if fully in place, 1 if partially in place, and 0 if not in place. Total your score across all 20 questions (maximum 40 points) and use the scoring guide to identify your maturity band. Use the lowest-scoring areas to prioritise improvement actions.

Assess whether your payment unit economics are investable. Score net revenue per transaction, fee structure efficiency, FX margin and chargeback exposure.

Area 1: Revenue Per Transaction

Q1. Net revenue per transaction is calculated monthly

2 — Fully in place: Gross revenue minus all processing costs is tracked monthly as a defined metric. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q2. Revenue tracked by payment method, geography, and customer segment

2 — Fully in place: Segmented revenue per transaction reporting is in place across all key dimensions. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q3. Pricing model reviewed at least annually

2 — Fully in place: Pricing is benchmarked against cost structure and competitive data on a regular review cycle. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q4. Take rate defined and tracked as a KPI

2 — Fully in place: Net revenue as a percentage of gross payment volume is defined and included in monthly reporting. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Area 2: Cost of Acceptance

Q5. All payment processing costs itemised

2 — Fully in place: Interchange, scheme fees, acquirer margin, and gateway fees are broken out separately in the cost stack. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q6. Blended cost per transaction calculated across all methods and channels

2 — Fully in place: A single blended cost figure is produced monthly covering all payment methods and channels. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q7. Scheme fee changes monitored and P&L impact modelled

2 — Fully in place: Upcoming scheme fee changes are tracked and their income statement impact is modelled before they take effect. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q8. Processing costs benchmarked against industry annually

2 — Fully in place: Current cost per transaction is compared against published or peer benchmarks at least once per year. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Area 3: FX & Currency Management

Q9. FX revenue and cost tracked separately

2 — Fully in place: FX margin earned and FX risk taken are distinct line items — they are not netted or conflated in reporting. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q10. FX exposure measured at least monthly

2 — Fully in place: Open currency positions are quantified and reported on a regular cycle — not estimated or ignored. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q11. Hedging policy exists and is documented

2 — Fully in place: A formal decision has been made — hedge, natural hedge, or accept exposure — and is documented in board-approved policy. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q12. FX P&L reported as a separate line

2 — Fully in place: FX gain/loss does not distort operating performance — it is shown as a distinct item in the income statement. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Area 4: Fraud & Chargeback Economics

Q13. Fraud rate calculated monthly

2 — Fully in place: Fraud losses as a percentage of gross payment volume are tracked monthly against a defined threshold. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q14. Chargeback rate tracked separately from fraud

2 — Fully in place: Volume and value chargeback rates are calculated and monitored as distinct metrics — not blended with fraud. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q15. ROI of fraud prevention investment calculated

2 — Fully in place: The cost of fraud controls is weighed against fraud losses avoided — investment decisions are evidence-based. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q16. Scheme programme thresholds monitored

2 — Fully in place: Visa and Mastercard programme thresholds are tracked; no programme breach has occurred in the last 12 months. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Area 5: Unit Economics for Investors

Q17. Gross profit per transaction clearly defined

2 — Fully in place: A clean gross profit per transaction figure can be produced and excluded from revenue concentration analysis where required. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q18. Customer acquisition cost for payment product calculated

2 — Fully in place: CAC is calculated at product level — not blended into company-wide CAC — and can be presented to investors. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q19. Contribution margin at transaction level is positive and improving

2 — Fully in place: Transaction-level contribution is tracked over time and the trend is positive. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Q20. Payment economics presented in investor-grade format

2 — Fully in place: Unit economics are presented consistently with VC expectations for payments businesses — take rate, margin per transaction, and LTV/CAC clearly defined. 1 — Partially in place: partially in place or informally applied 0 — Not in place: not in place

Your Score

0 / 40

Answer questions above to see your result

Next step: Identify the area where your score is lowest. Questions scored 0 are your highest-priority actions. Book a discovery call to discuss your results with a fractional CFO and build a clear remediation plan.

Your Score

0 / 40

Answer questions above to see your result

Payments Economics Health Check

Area 1: Revenue Per Transaction

Area 2: Cost of Acceptance

Area 3: FX & Currency Management

Area 4: Fraud & Chargeback Economics

Area 5: Unit Economics for Investors

Discuss your results with a fractional CFO.Book a discovery call.

Discuss your results with a fractional CFO.
Book a discovery call.