Authorization and offer conversion rates
Offer conversion rates measure the conversion of payments (by a customer) from the offer to the final status. In other words, it measures the percentage of shoppers that complete the transactions up until the point that the Acquirer has processed the transaction. Conversion rates can be improved by offering less friction on the payment journey for the customer.
The authorization rate measures the number of completed transactions the acquirers have successfully processed. Once the customer has acted upon the payment flow, it's up to the connection with the acquirer to receive and process a payment resolution on time.
Therefore, the overall success rate of a payment method is dependent on both the Offer Conversion rate and the Authorization rate.