Case study ↓
Rethinking payment solutions with Crypto approach
Webapp
Reap is a technology company provides financial kit to solve real-life problems.
The payment was through Stripe and took fiat currency only. With the new approach to web3 client, the project here is to sort out crypto payouts would smoothen up their day-day process
When
(situation)
, we want to
(movitcation)
(outcome)
Define ↓
The big idea
With the raise of web3 clients, we want to smoothen the process for them to pay their credit card bills or making direct payment through Reap Pay.
The payment system was previously limited to accepting fiat currency through Stripe. With the transition to a Web3 client, the project aims to implement crypto payouts to streamline and enhance their day-to-day operations. This new approach will provide greater flexibility and efficiency in handling transactions.
User background & user stoires
Who are our potential clients?
// Digital-enabled businesses across the globe
// Who are looking for a cheaper, faster, and centralized way to streamline and simplify their fiat expense processes in one place.
What do we have right now?
// On Reap Card repayment, we only take autopay (EDDA) and direct bank transfer, both of them are fiat payouts
What are the problems we are trying to resolve here?
// To off-ramp crypto and repay their huge fiat business expenditure with no hassle
// With adding Crypto capabilities, we would want to have a user be able to make an input payment using Crypto Repayment (crypto-format money)
Emphasize ↓
Next step : Review existing products and find out the touch point
Reviewing existing products and identifying touchpoints is essential for several reasons. Touchpoints are any interactions or points of contact between the user and the product or service. By understanding these, you can enhance user experience, streamline processes, and ensure that the product meets user needs effectively.
Card Deposit
User can only request credit by their credit rating or by depositing in fiat
2. Repayment
User can only repay their credit card bills through autopay (eDDA) or direct bank transfer, which both ways are fiat payouts.
Reap Pay
The founding feature that walk all along together, user can payout the payment through Stripe api
So, there are 3 touch points that potentially our users can pay with cryptocurrency… 💭
Ask ↓
Biggest challenge: Understanding technical limitations
By adding a new payment solution, specifically a crypto payment solution, there are numerous limitations that must be carefully considered during the design process. Unlike commercial design, the scope for creativity is limited. Instead, it is crucial to have a deep understanding of how the backend systems operate to effectively plan for all potential user paths and scenarios.
API doc understanding
In order to work out the payment solutions, the product team giving out an API solution which is through Triple A. In the big part of time in this project - I spend almost every day with head engineer together, try to maximise the flexibility that I can have on front-end.
Sketching out the technical flow
At the meantime, making sure I am not missing any small part of the API that will cause of bad user experiences (e.g. long loading time)
Brainstorm ↓
Brainstorm sessions 🌪️🌪️🌪️
Facilitate a productive brainstorming session with colleagues on the idea of implementing a crypto payment solution, it is essential to provide them with relevant information and clear objectives
Implement ↓
Feature launched 🚀
After the user testings, I came to a conclosion that we can adjust serval things to make the whole UI more fit for the user role use.
Reap Pay payouts through cryptocurrency
Repayment: adding cryptocurrency as an option
🌟 Impacts of the solution
46%
Transaction rate increase in 1 month
21%
Web2 customers start to use stablecoins for first time
$2Billions
Stablecoin payments funded in 1 year
Enabling users to utilize stablecoins as a funding source for their corporate cards and various payment methods marked a significant shift in the company’s business strategy. Originally, the product’s primary audience consisted of APAC businesses that had been the focus since the early stages. However, the introduction of crypto solutions has opened the door to a broader global market, creating new opportunities and expanding the company’s reach.
Test ↓
User interviews after production (This project is still on-going!) 🏗️
Me and the product managers hosted interviews for feedback after a product launch are essential for validating assumptions, identifying issues, enhancing user experience, improving customer satisfaction, prioritizing development, and ensuring the product's long-term success. These interviews provide invaluable insights that help create a product that truly meets the needs and expectations of its users.
Scale
Qualitative research
Individual interviews for our major clients (Binance, OKX, Bullish ,Amber etc.)
Test includes (30m)
General questions / enhancement requests
Navigation task (Interviewees choose a personas from previous slide )
⚡️ Learnings from this project
Technical Integration Challenges:
Integrating a new crypto payment solution requires a deep understanding of both existing systems and the new technology.
Close collaboration with engineers is crucial to maximize front-end flexibility and ensure a seamless user experience.
User Experience Optimization
Identifying and addressing user pain points can significantly enhance usability and satisfaction.
Creative Constraints:
Designing within technical limitations requires a balance between creativity and practicality.
Understanding backend operations is vital for planning effective user paths.
