Project Background
MoMo is the most popular mobile payment application in Vietnam, established in 2014. With over 30 million users, MoMo provides various convenient features such as money transfers, bill payments, movie ticket purchases, and savings deposits.
One of the important and highly favored features of MoMo is Paylater, which allows users to make purchases, pay bills, and send money without the need for immediate payment. This brings convenience and flexibility in managing personal finances without worrying about carrying cash or payment cards.
Problem Statement
Although the Paylater feature has brought many benefits to users, there are still some issues that cause difficulties and discomfort in the user experience. Specifically, we can identify the following problems:
Complex registration process: Users need to provide multiple personal information, upload photos of their ID cards, and other required details. Moreover, the verification and confirmation of the registration information also take a significant amount of time, causing users to endure long waiting periods to complete this process.
Limitations in debt management: Users face difficulties when they want to check the amount used and transactions related to the Paylater feature. This information is not displayed clearly on the interface, making it challenging to track and manage personal financial situations.
Limitations in application: The Paylater feature is not widely supported at all stores or partners of MoMo. Users may not be aware of the restricted availability and convenience of the feature when they are unable to use it everywhere.
Hidden fees and unclear service fees: Currently, information regarding the fees associated with the Paylater feature in MoMo is not provided clearly and in detail. This leads to surprises and dissatisfaction for users after completing transactions.
Lack of clarity regarding terms and conditions: The terms and conditions related to the Paylater feature are not presented in a clear and easily understandable manner. This can lead to misunderstandings or disagreements regarding the rights and responsibilities of users when using this feature.
Design Approach
The team approaches the project using the Double Diamond Design method, which is a process aimed at providing a feasible solution that meets the users' needs.
"Why approach it using the Double Diamond Design method instead of Design Thinking?"
The Design Thinking method and the Double Diamond method have similarities and are often used together in the creative and design process. However, there are some minor differences and purposes between the two methods.
At MoMo, a large company, there are specialized departments that provide the necessary information for the design process, allowing you to work with them to gather useful insights without starting from scratch. Therefore, the team utilizes the Double Diamond method to:
Understand the current challenges, gather information, and formulate focused questions related to the problem.
Generate ideas and solutions based on the collected information.
Emphasize the analysis and synthesis of data to form insights and a final problem statement.
Follow clear and sequential steps in the design process.
By employing the Double Diamond method, the team can leverage the expertise of different departments, streamline the design process, and ensure a systematic approach to problem-solving and solution development.
In this way, the Double Diamond method helps to uncover creative and effective solutions that generate good revenue for businesses and improve the experience for millions of users. It consists of four distinct phases: Discover, Define, Develop, Deliver, and Test. These phases allow for a comprehensive approach to problem-solving and solution development, ensuring that the outcome meets both the business objectives and user needs.
1. Discover
In the Discover phase, the main objective is to conduct research and gain a deeper understanding of the issues surrounding the Ví Trả Sau feature, rather than making assumptions and trying to solve them immediately. This phase involves engaging with users, gathering feedback, and understanding their experience with the quality. Methods such as interviews, surveys, and direct user observations can be used to gather the necessary information.
Some common questions to ask during this phase include:
In addition to the mentioned challenges, what other difficulties are users encountering when using the Ví Trả Sau feature? How do these issues relate to their usage context and user behavior?
What do users expect from the Ví Trả Sau feature? What makes them uncomfortable or causes difficulties in their experience?
What are the trends and standards in the mobile payment and e-wallet field both domestically and internationally that we should consider?
This is the phase where the team will conduct exploratory research on the problem and challenges being faced. Any insights from previous research can also help the team explore the product's problem.
Key activities in this phase include:
Planning with stakeholders and gaining a clear understanding of the current project context (Business Owner, Product Owner, Product Designer).
Conducting competitor research, understanding users, and identifying issues and opportunities related to the feature.
Analyzing the collected information from users, interviews, surveys, and existing data.
Identifying the necessary factors to create a good user experience.
2. Define
In the Define phase, the goal is to identify and define the problem we are addressing based on the analysis and data collected. It involves asking questions that need to be answered and specifying the objectives of problem-solving. The focus is on identifying the key factors and priorities to generate a solution.
Some questions to address in this phase include:
What do we want to achieve by improving the Ví Trả Sau feature? What is the primary objective, and how will we measure success?
What are the most important issues and factors that need to be addressed? Which issues have the biggest impact on the user experience?
In addition to the identified issues, what other aspects need to be considered and resolved in the Ví Trả Sau feature?
Key activities in this phase include:
Identifying the user wants versus user needs.
Analyzing and synthesizing research data to form insights for the entire team.
Defining the scope of the problem and creating a final problem statement.
3. Develop
In the development phase, the goal is to generate potential solutions for the previously identified problem. Similar to expanding your research, consider the full range of possibilities for the solution. Seek inspiration from various sources and share your creativity with as many stakeholders as possible.
Key Activities:
Sketching, low-fidelity wireframing, and prototyping.
Collaborating with stakeholders such as the Product Owner, Product Designer, and Technical Team.
Building hypotheses and selecting optimal designs to test.
4. Deliver
In the Deliver phase, the goal is to validate feasible solutions and prepare the design for implementation. At the start of this phase, the team will begin eliminating solutions that are not suitable for the prototype and testing process. This final implementation phase concludes with the completed design work.
Key Activities:
Testing the prototype with a small number of invited users to gather early feedback.
Reviewing the feedback and preparing for the new updates.
Deploying experiments (A/B tests) for new features and interfaces, collecting data, and continuing the iterative process to improve the product.
Solution
1. Displaying all financial information within sight
The overall financial status is the first thing users will see after opening the application.
Here, a common difficulty that users often mention is that they only want to view their credit limit, service fees, the amount spent, and payment due date to avoid incurring late fees.
Our goal is to highlight key data and maintain a minimal information density to ensure transparency and ease of use.
2. Facilitating user navigation for easy task completion
With a clear understanding of their financial situation, users can quickly make payments for the amount used with just 3 taps.
To access the debt repayment page, users simply need to tap on the debt balance box, and the app will navigate to the list of outstanding debts to be paid. Users can easily select the loan and make the payment.
“Everything that users need is just a few taps away when using the Pay Later Wallet.”
3. Providing valuable expenditure information
The transaction history and expense management provide valuable information that can be easily accessed by browsing through it.
This is a convenient way for customers to maintain control over their financial situation by easily exploring their paid and unpaid bills, as well as scheduled payments, and their budget levels.
By simply tapping on categories, users can instantly gain an overview of the most heavily spent areas, providing them with a comprehensive view of their expenses.
4. Delivering financial information inspired by social networking.
We are living in a fast-paced digital world dominated by social media and technology. So why do Fintech applications lag despite such great examples of customer engagement in the social media environment?
At MoMo, the social aspect goes beyond just the user interface of the application. The posts provide information and also display user friends' opinions about various financial products and services, as well as social-based recommendations.
These recommendations can include anything that can help improve the financial well-being of users, such as personalized financial tips, savings strategies, investment opportunities, or promotional programs offered by MoMo, for example:
Tips on reducing expenses in the categories where users spend the most.
Notifications about urgent financial activities that require immediate attention.
Recommendations on savings and investment based on the user's goals.
Reminders to pay bills and complete other regular payments.
Promotional programs are offered by Pay Later and MoMo.
5. Personalized offers demonstrate care for users
One of the most powerful features that an AI-powered digital bank can offer is personalized promotions. This can be ensured through predictive analytics. It should incorporate analysis of users' financial activities, their social environment, big data analysis of typical behavioral patterns, geolocation data, and contextual analysis.
Key Learning
1. Understand your user
The most important thing is to understand the needs and issues that users encounter in order to create a product that truly serves their daily lives. This requires an in-depth analysis of the market and users to deliver the best possible experience for them.
By always putting the user at the center of the design process, we aim to provide an interface and user experience that is optimized for ease of use.
2. Create a seamless experience
It takes complexity to create a design, but it should be minimal and easy to understand. This helps users find information and perform tasks easily and quickly, making it truly worth our effort.
Every piece of information and feature in the interface is carefully considered. Integrating services and functions into a user-friendly and cohesive interface enhances utility and reduces complexity for users.
3. Constantly improving transparency and trust
It takes complexity to create a design, but it should be minimal and easy to understand. This helps users find information and perform tasks easily and quickly, making it truly worth our effort.
4. Enhance security with the latest technologies
Particular emphasis is placed on protecting users' financial information and transactions. Ensuring that the system is designed with high-security measures to guarantee safety and trust for users.
5. Monitor and update technology trends
Harnessing the power of social networks and technology to provide interactive features and facilitate information sharing among users, creating an interactive and diverse user community.
6. Testing and evaluation
Conducting tests and gathering feedback from users to ensure continuous improvement of the interface and user experience.
7. Aligning the development team is the foundation of success.
Clear team alignment and continuous communication and feedback exchange to ensure shared understanding and progress throughout the project development.