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PROJECT PAYPLAN

+

FINAL PRESENTATION

1FINALPROJECT PAYPLANIDEO.ORG + FSD KENYA

THIS PRESENTATION is the final deliverable of the PayPlan Project. It serves to guide the final meeting of the project team. And it concludes the design phase while handing over concepts for the next pilot phase.

DOCUMENT SUMMARY


PROJECT STORYSUMMARY ON INSIGHTS AND LEARNINGS THAT LED TO THE FINAL CONCEPTS

02

PART 1 - MY TARGETSPROTOTYPE LEARNINGS AND KEY FEATURES

03

PART 2 - PAY LATERPROTOTYPE LEARNINGS AND KEY FEATURES

04

VISION OF GROWTHFINANCIAL INCLUSION STRATEGY, CONCEPT POSITIONING AND WAYS TO GROW

05

DESIGN DETAILSCONCEPT DETAILS, VERSION STRATEGY AND DESIGN GUIDELINES

06

PILOT PLANNINGRECOMMENDATIONS AND QUESTIONS

07

APPENDIXLOGIC FLOW DIAGRAMS

08

INTRODUCTIONPROJECT TEAM, PROJECT OBJECTIVE AND TIMELINE

01

CONTENT SUMMARY


INTRODUCTION


INTRODUCTION

HOW CAN WE SUPPORT LOW-INCOME KENYANS IN PLANNING THEIR FINANCIAL LIVES?

PROJECT OBJECTIVE


INTRODUCTION

THE PROJECT TEAM FSD Kenya is partnering with IDEO.org to bring the idea of PayPlan to life and deliver on its potential for financial service innovation.


INTRODUCTION

5

engagement timeline The next few pages will detail our process in depth. This diagram is an overview of the flow of activities and the key outputs we are proposing.

Jan 7 Jan 14 Jan 21 Jan 28 Feb 4 Feb 11 May 27 Jun 3 Jun 10 Jun 17 Jun 24 Jul 1Week

PHASE 1: INSPIRATION PHASE 2: DESIGN PHASE 3: PROTOTYPING

Planning, background research, and design of sacrificial concepts

Field research in urban and rural communities in Kenya

Synthesis, opportunity identification, and concept generation

In-field prototyping in urban and rural communities in Kenya

Refinement and communication of the vision for PayPlan and product concepts

Kick-o� workshop

Strategyworkshop

Final meeting

Prototype design and creation of key elements of the vision for PayPlan and product concepts

Remote kick-o� meeting

October 5, 2012CONFIDENTIAL

Increasing financial inclusion in Kenya

Prototyping meeting

Feb 18 - May 24

IDEO.org, FSD, and partners will break for 7 weeks around the Kenyan elections

Light research check-in

Remote check-in before break

Remote check-in after break

PROJECT TIMELINE WE AREHERE


INTRODUCTION

WE HADAN IDEA...


PROJECT STORY

9FINALPROJECT PAYPLAN

PAYPLAN* IS A FINANCIALCONCEPT BASED ON A CLEAR NEED.*See Ignacio Mas, "Making Mobile Money Daily," Microfinance Gateway, Feb 2012.


PROJECT STORY


PEOPLE IN POVERTY NEED A MOBILE SAVINGS PRODUCT THAT HELPS THEM PLAN, NOT JUST TRANSACT.


PROJECT STORY


AND WE PUT THIS IDEA INTO ITS REAL WORLD CONTEXT.

NAIROBI


PROJECT STORY


WE USED HUMAN-CENTERED DESIGN RESEARCH TO DISCOVER THE EXISTING SAVINGS AND PLANNING BEHAVIORS TO BUILD UPON.


PROJECT STORY


1. LEVERAGE INTUITIVE BEHAVIORS Buying. Selling. Lending. Borrowing. These are the natural ways that people think about money. Saving isn’t as intuitive.

2. BUILD EXTERNAL TRIGGERS Financial decision making is often reactive. New financial behaviors generally happen as a result of external forces.

3. CULTIVATE SOCIAL CAPITAL Social capital is deeply woven into financial behavior. This goes well beyond emergencies. It Is a daily activity that acts as credit, collateral and cements your place In a community.

4. PROVIDE A BIG PICTURE People are more successful when they have clear pictures of their financial lives. Many people, though, lack this information.

AND WE FOUND THESE GUIDING INSIGHTS:


PROJECT STORY


WE MERGED THESE INSIGHTS WITH THE PAYPLAN IDEA TO CREATE A PRODUCT THAT FITS WITH PEOPLE'S REAL BEHAVIOURS.


PROJECT STORY


1.

3.

2.

4.

A tool that reduces financial planning to a simple choice - use money now or use money later.

A tool that empowers users to create and manage as many subaccounts as personally desired.

A peer-to-peer lending service that logs payment and organizes pay back. They mobile money system offers tracking, notifications and options for bank-backed support and extensions.

A savings tool that smoothes out cash flow cliffs and peaks. Cash deposited ahead of time by the user is then doled out to them in consistent payments over time.

NOW/LATER:

VIRTUAL SALARY: BILLIFY:

GOALS:

WE BUILT A SUITE OF PROTOTYPES TO REPRESENT DIFFERENT DIRECTIONS THE PRODUCT COULD TAKE.


PROJECT STORY


THE AIM WAS NOT TO TEST MARKET ACCEPTANCE

OF A FINISHED PRODUCT. INSTEAD, WE WANTED

TO PROMPT CUSTOMERS WITH VERY DIFFERENT

FEATURES TO UNDERSTAND WHAT REALLY

RESONATES WITH THEM.


PROJECT STORY


WE LET USERS TRY OUT THE PRODUCTS UNAIDED.

HOW?17FINALPROJECT PAYPLANIDEO.ORG + FSD KENYA

PROJECT STORY


WE OBSERVED USERS TEACHING OTHERS HOW TO USE THEM.


PROJECT STORY


AND WE WENT INTO THEIR BUSINESSES AND HOMES TO SEE THE PRODUCT IN ACTION.


PROJECT STORY


THROUGH THIS EXPERIENCE, WE FOUND WHAT PEOPLE LIKED MOST AND WHAT WORKED BEST FOR THEM.


PROJECT STORY


1. PEOPLE LIKE TO THINK IN TARGETS. IT MAKES FINANCIAL PLANNING TANGIBLE AND RELEVANT TO THE EVERYDAY.

2. CREDIT IS PART OF THE PLAN. BECAUSE LIFE IS COMPLICATED, AND FINANCIAL PLANNING NEEDS TO INCLUDE THIS.


PROJECT STORY


HERE'S HOW PAYPLAN EVOLVED...


PROJECT STORY


PART 1:

MY TARGETS PART 2:

PAYLATER

PAYPLAN23FINALPROJECT PAYPLANIDEO.ORG + FSD KENYA

PROJECT STORY


TWO COMPLIMENTARY CONCEPTS THAT CAN LIVE TOGETHER, ENABLING THE PRODUCT TO GROW WITH ITS USERS.


PROJECT STORY

PART 1

MY TARGETS


MY TARGETS


MY TARGETS IS A BUDGETING TOOL ON YOUR MOBILE PHONE.

It allows any mobile money customer to plan their expenses by creating separate virtual accounts. Customers then name these accounts to reflect their personal targets.


MY TARGETS


NAMING MATTERS.

I LIKE SAYING WHAT I'M SAVING FOR. Many personalized accounts are preferred over a single generic savings account.

" "


MY TARGETS


"When you set goals, you're targeting something for your future. This way makes you have more plans for yourself then just saving for the sake of maintaining a bank account."

- CLARICE, 32


MY TARGETS


LOCKING MATTERS

"I WANT TO PROTECT MY MONEY FROM MYSELF." Once a target is created, users can add a lock that blocks money from being withdrawn until a set date has been reached. My Targets helps people resist tempation.


MY TARGETS


"If it's locked, you're sure of reaching your target. You're sure of achieving it. Now you won't be able to access your money until the date and then the money will go straight to what you set."

- JULIUS, 26


MY TARGETS


ACHIEVING MATTERS MOST.

"I LIKE THE FEELING OF HITTING MY TARGET." Achieving a financial goal is intrinsically rewarding. Extras like bonus points or rewards aren't needed when you're providing a path to personal satisfaction.


MY TARGETS


Looking over potential rewards and barriers, Oscar paused. What he cares about is something that helps him reach his goals. A feeling that he articulated as being worth much more than the incentives.


MY TARGETS


MY TARGETS: AN INTUITIVE FLOW WHERE USERS

NAME IT. LOCK IT. ACHIEVE IT. Let's look at how it works through a list of key features.


MY TARGETS


KEY FEATURE #1

SETMY TARGETS

Users create and name their targets.

Users begin with a default account

called My First Target.


MY TARGETS


KEY FEATURE #2

'SEND' TO MY TARGETS

You can set aside small amounts as

part of sending or recieving money

normally. You can save as little as you

want whenever you want. It's as easy as

sending money to a person.


MY TARGETS


KEY FEATURE #3

ADD A LOCK

My Targets accounts can be locked to

a date, helping you resist small daily

temptations in favor of big goals. The

order is clear: You add WHEN you want

the money after you know WHAT it's for.

First, name your target, then lock it to a

date.


MY TARGETS


KEY FEATURE #4

NUDGES

Because not everyone is a born

planner, the system prompts for

saving throughout the mobile money

experience. When users receive money,

they are asked in the same SMS to push

that deposit to My Targets.


MY TARGETS


KEY FEATURE #5

ONE BALANCESHEET

My Targets overcomes the lack of

information in the cash-based world

and lets users see their balances

and goals all in one place.


MY TARGETS

PART 2

PAYLATER


PAYLATER


PAYLATER IS A DIGITAL PLATFORM FOR SUPPORTING PEER- TO-PEER LENDING AND BORROWING.

PayLater enables people to stretch their shillings when cash flow is low. It formalizes already existing behaviours and adds simple safety mechanisms to protect the lender as well as the borrower.


PAYLATER


A RECORD MATTERS.

"I LIKE TO HAVE A RECORD OF WHAT I OWE OR WHAT'S OWED TO ME." Today, people write their debts in notebooks or trust their lender to keep track. PayLater takes this behaviour digital.


PAYLATER


Thirty percents of John's pharmacy customers in Kariobangi take medicine on credit. He has a thick book keeping track and has to constantly call customers to remind them of their debts.


PAYLATER


TRACKING MATTERS.

"I PAY AS I GO WHEN I HAVE MONEY." People repay what they can when they can. Many keep their M-Pesa text messages as proof of repayments. Keeping track of repayments towards a debt is an integral part of PayLater.


PAYLATER


Patricia is a teacher. Her school is struggling and hasn't paid her in 3 months. She pays back loans when she can, but the money comes sporadically while the needs are constant.


PAYLATER


AND HELP US REMEMBER.

"I KEEP TRACK IN MY HEAD, BUT I'VE GOT A LOT GOING ON."Lenders lament the routine of calling their borrowers to remind them of their debts. Borrowers also struggle to keep up. Users need reminders that easily convert to action.


PAYLATER


Bani sets an alarm on his feature phone to remind him of when debts must be paid.


PAYLATER


PayLater is a two-way interaction flow between lender and borrower that is summarized as:

RECORD IT. TRACK IT. REMIND US.


PAYLATER


SO HOW DOES PAYLATER WORK?


PAYLATER


KEY FEATURE #1

WRITTEN AGREEMENTS

Sending and accepting a request

enters both people into an

agreement. A copy is retained on

the mobile account with set terms.

With PayLater, the room for abuse

generated by the fuzziness of verbal

agreements is removed.


PAYLATER


KEY FEATURE #2

REPAYMENT TRACKING

Both parties know exactly how much

money is owed and when it has to be

paid back by. Any partial payments

are automatically tracked allowing

for "pay as you go" lifestyles.


PAYLATER


KEY FEATURE #3

NOTIFICATIONS

People are supported in keeping on

top of their PayLater debits through

notifications.

You get an SMS (or IVR reminder)

that pushes you directly to the

platform to repay.


PAYLATER


KEY FEATURE #4

SECURITYDEPOSITS

One possibility, is that the lender

could ask to lock a deposit on the

borrowers mobile money account.


PAYLATER


MORE FEATURES

Because PayLater involves two people exchanging money, safety is paramount.

Ideas for more safeguards: • Exposing credit reputations of

both parties

• Protecting against changed

mobile numbers through

linking real ID

• Blacklisting those who abuse

the system.


PAYLATER

VISION OF GROWTH


VISION OF GROWTH


Financial Planning & Growth

SPENDING SAVING & BORROWING INVESTING

$$$

IDEO.org and FSD are aligned in the belief that the planning tool we create should help people grow their finances and how they are applied to pave a path out of poverty.

A PATH OUT OF POVERTY


VISION OF GROWTH



We want to get people from spending money on their day-to-day basic needs to plan for the next month and eventually invest into their futures.

Today Next Week Next TermTomorrow Next Month Next Year Next Generation

TIMEFRAME & SCOPE


$$$


VISION OF GROWTH




$$$

The current concepts enable people to save money for the near future and become financially resilient. Future extensions for MyTargets and PayLater will help build intergenerational prosperity.

Mobile Money • safety • liquidity

• inclusion (to a network)

MY TARGETS • learning how to plan achieve goals • developing disposable income

PAYLATER • learning how to use credit • building credit history • financial resilience

Banking• achieve bigger goals• accumulate assets• prosperity• generational impact


TOOLS AND OUTCOMES


VISION OF GROWTH




$$$

A pipeline of efforts and offerings will increase continued market uptake after immediate launch.

Mobile Money • grow the network of agents • grow mobile network • grow the customer base

MY TARGETS• incentives for goals• shared goals (chamas)

PAYLATER • agent lending • shared lending • bank backing for loans

• financial consulting• increased security

• bank credits

WAYS TO GROW



VISION OF GROWTH

DESIGN DETAILS


DESIGN DETAILS

ACCOUNT STRUCTUREMobile Money

CURRENT ACCOUNT

DEPOSIT

SEND

RECEIVE

LOCK

FEE

MOBILE MONEY ACCOUNTS

WITHDRAW

$

SEND

MY FIRST TARGET

CUSTOM TARGETS

Proposed concepts will live within the mobile money offering.


DESIGN DETAILS

VERSION STRATEGY

USSD

STK

NATIVE APPS

PLATFORMS

ANDROID, ...

PILOT

SCALE

NEW FUNCTIONALITIES

Mobile Money

Proposed concepts will live on multiple platforms.

1. We suggest to start to build and run a minimal USSD version as a pilot, in order to learn and iterate quickly on the core ideas of the service.

2. The STK version will translate the learnings into a more comfortable interface in order to scale the service to a larger number of users.

3. We believe the smartphone version should offer additional user benefits through leveraging the potential of the interface, rather than a direct translation of the STK version.


DESIGN DETAILS

Mobile Money

TO PHONE AT AGENT [TARGET]

[PAY LATER]

[GET LATER]

CURRENT SETTINGS

...

...

...

TO MY TARGETS

TO PAYLATER

AT ATM

CREATE NEW

ADD DATE LOCK

PAY BACK

DELETE

SEND TO C.A.RENAMEDELETE

SEND MONEY

REQUEST PAY LATER

WITHDRAW CASH

SHOW BALANCES

MY TARGETS

OTHER OPTIONS

MENU STRUCTUREPILOT VERSION (USSD)

The pilot version should realize a minimal viable product (MVP), delivering only the core services. USSD is suboptimal, but it's easy for the implementing partners to create de-spite adding more complexity for the user because it requires more steps than a menu-based approached.

PayLater Request starts the creation of new PayLater records.

My Targets separates creation and management of the customizable targets.


DESIGN DETAILS

FLOW DIAGRAMPILOT VERSION (USSD)The proposed logic diagram describes a possible implementation of a minimal vi-able product.

Orange Money

Cancel Send

MAIN MENU---Select:1. Send Money2. Withdraw Cash3. My Targets4. Show Balances5. Settings|Cancel Send

Orange Money

Cancel Send

SENDCurrent Account balance is now KSh 500.---Select:1. Send to Phone Number2. Send to My Targets

Cancel Send

Orange Money

Cancel Send

SEND TO NUMBERCurrent Account balance is now KSh 500.---Select:1. Search Phonebook 2. Enter Phone Number

Cancel Send

Orange Money

Cancel Send

MAIN MENU---Enter PIN to enter:

|Cancel Send

Orange Money

Cancel Send

SEND TO TARGETCurrent Account balance is now KSh 500.---Select:1. Send To My First Target2. Create A New Target

Cancel Send

Orange Money

Cancel Send

SEND TO MY FIRST TARGETCurrent Account Balance is KSh 500.---Type amount to send to My First Target in KSh:

Cancel Send

Orange Money

Cancel Send

SEND TO MY FIRST TARGET Amount KSh 200.---Enter PIN to confi rm:

Cancel Send

Orange Money

Cancel Send

SENT TO MY FIRST TARGET Done!KSh 200 have been sent to My First Target. ---Select:1. Add Date Lock2. No Lock

Cancel Send

Orange Money

Cancel Send

MY TARGETS---Select: 1. My First Target2. Create New Target

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETBalance is KSh 0.---Select Option:1. Add Date Lock2. Send to Current Account3. Rename Target4. Close Target

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETThe money on this Target account will be available on 01/09/2013. ---Enter PIN to confi rm:

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETDone!My First Target is locked until 01/09/13. You can keep sending money to this target!

Cancel

Orange Money

Cancel Send

MY FIRST TARGET---Lock until:1. August (01/08/13)2. September (01/09/13)3. October (01/10/13)4. November (01/11/13)5. Enter Date

Cancel Send

Orange Money

Cancel Send

WITHDRAW CASHCurrent Account balance is KSh 500.---Select:1. Withdraw at Agent2. Withdraw at ATM

|Cancel Send

Orange Money

Cancel Send

CREATE NEW TARGET---Type name:

Cancel Send

Orange Money

Cancel Send

CREATE NEW TARGETSchool Fee Target has been created.Balance is KSh 0.---

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETAdding a date lock.---Type year (e.g. 2013):

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETAdding a date lock.Year is 2013.---Type month (1-12):

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETAdding a date lock.Year is 2013.Month is December.---Type day (1-31):

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETBalance is KSh 200.---Type amount to send to Current Account in KSh:

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETAmount to send to Current Account is KSh 100.---Enter PIN to confi rm:

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETDone!KSh 100 have been sent to Current Account. New My First Target bal-ance is 100.---

Cancel

Orange Money

Cancel Send

MY FIRST TARGETDone!KSh 100 have been sent to Current Account. New My First Target bal-ance is 100.---

Cancel

Orange Money

Cancel Send

SHOW BALANCESCurrent Account: KSh 500.---My First Target: KSh 200.Rent Target: KSh 1200.School Fee Target: KSh 3400.

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETBalance is KSh 200.---Type new name:

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETBalance is KSh 200.Only empty targets can be deleted. Please sent the whole amount to Current Account fi rst.---

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETBalance is KSh 500,Locked until 31/08/2013.---Select option:1. Send to Current Account2. Rename Target3. Close Target

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETSorry! This Target is locked until 01/10/2013.To protect your savings, we charge a fee to release this lock.---Press Send to continue.

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETBalance is KSh 200.---Type amount to send to Current Account in KSh:

Cancel Send

Orange Money

Cancel Send

MY FIRST TARGETAmount is KSh 100.Lock release fee is 50.Only KSh 50 will be sent to Current Account.---Enter PIN to confi rm:

Cancel Send

Orange Money

Congratulations, you reached your target! My First Target has been unlocked today. Available balance is KSh 500. You can now lock it again or send any amount to Cur-rent Account. Press Op-Cancel Options

SMS 01/09/2013 at 00:00:01

Orange Money

OM12345678 Confi rmed.

{confi rmation text}

Cancel

SMS 25/07/2013 at 18:45:23

Select

Orange Money



Cancel

SMS 25/07/2013 at 18:45:23

Select

Orange Money



Cancel

SMS 25/07/2013 at 18:45:23

Select

Orange Money



Cancel

SMS 25/07/2013 at 18:45:23

Select

Orange Money



Cancel

SMS 25/07/2013 at 18:45:23

Select

Orange Money



Cancel

SMS 25/07/2013 at 18:45:23

Select

Orange Money



Cancel

SMS 25/07/2013 at 18:45:23

Select

Orange Money



Cancel

SMS 25/07/2013 at 18:45:23

Select

Orange Money

OM12345678 Confi rmed. You received Ksh50 from LYNETTE NJOGU 254701159824 on 25/7/13 at 6:37PM. Your Cur-rent Account balance is Ksh550. Send it to your targets? Press Options.Cancel Options

SMS 25/07/2013 at 18:45:23Orange Money

OM12345678 Confi rmed. You deposited Ksh50 to your Current Account on 25/7/13 at 6:37PM. Your Current Account balance is Ksh550. Send it to your targets? Press Options.

Cancel Options

SMS 25/07/2013 at 18:45:23

Orange Money

Hello, the lock on My First Target has been released today. Available balance is KSh 500. Congratula-tions! You can now lock it again or send the amount to Current Account. Press Options.Cancel

SMS 01/09/2013 at 00:00:01

Select

Lock AgainSend Back

...Replay

Forward Delete

Orange Money

OM12345678 Confi rmed. You received Ksh50 from LYNETTE NJOGU 254701159824 on 25/7/13 at 6:37PM. Your Cur-rent Account Balance is Ksh550. Send it to your targets? Cancel

SMS 25/07/2013 at 18:45:23

Select

Send to My Targets

...Replay

Forward Delete

Orange Money

OM12345678 Confi rmed. You received Ksh50 from LYNETTE NJOGU 254701159824 on 25/7/13 at 6:37PM. Your Cur-rent Account Balance is Ksh550. Send it to your targets? Cancel

SMS 25/07/2013 at 18:45:23

Select

Send to My Targets

...Replay

Forward Delete

Orange Money

Cancel Send

CREATE NEW TARGET---Type name:

Cancel Send

Orange Money

Cancel Send

CREATE NEW TARGETSchool Fee Target has been created.Balance is KSh 0.---Select:1. Add Date Lock2. No Lock

Cancel Send

TRIGGER EVENTS:MAIN MENU: LOCK EXPIRATION RECEIVE MONEY DEPOSIT

MY TARGETSLOGIC DIAGRAM

IF TARGET IS LOCKED

M.01Home screen for Orange Money, accessible with USSD code *AAA#.

T.30 T.40

M.02Any option requires PIN entry for security perception.

S.01Send option displays balance for convenience

S.10Send to phone number stays un-changed as current send money function.

...

T.30M.01

M.01 M.01

T.11

S.20All existing targets are listed. ‘My First Target’ is the default.

S.21Name of target is included in the screen title.

S.31

T.20

T.21

1-45.

2.

2.

2.

2.

2.3. 3.4.

T.70T.60

1.

1.

1. 2.

1.

1.

1.

T.30

T.31T.33

T.34

T.35

T.32

T.10

T.40 T.51

T.50 T.60

... T.10/11

M.01M.01

S.20 S.20

T.70

T.41 T.52

T.42 T.53

T.11

W.01 T.01Send to default target.Name of target is included in the screen title.

B.01Send to default target.Name of target is included in the screen title.

S.22 S.32

S.23

Assumption:In order to deliver a better experience, we assume a notification via SMS can trigger the direct access to some func-tions, without having the user navigate the menu and input USSD code.Several alternatives are also possible: reply via SMS, customized USSD code in the text, call back and service through IVR.


DESIGN DETAILS

THE APP SMARTPHONE VERSION

We believe the smartphone app will require a separate development effort, once the team has processed the learning from the first pilot iterations.

A visual interface will enable to simplify greatly the structure and navigation.• My Targets and PayLater can be fully

integrated.• One dashboard can visualize all the

balances, and enable the access to manage and edit targets and debts, simplifying the menu structure.


DESIGN DETAILS


New functionality for My Targets:• Visual reminders with images• Bar to show progress toward goals and

repayment• Set total amounts you want to save for


DESIGN DETAILS


New functionality for PayLater• Visual reminders with images• Richer exchange with P2P lender

around PayLater: extension of credit, rolling accounts,

• Tablet version for pro users, like mer-chants or savings groups treasurers.


DESIGN DETAILS


DESIGN DETAILS

DESIGN GUIDELINESTHESE GUIDELINES ARE INFORMED BY OUR RESEARCH AND DROVE OUR

DECISIONS FOR CONCEPT DESIGN. WE HOPE THEY CAN BE SOME TRUTHS

FROM WHICH FUTURE ITERATIONS OF THE PRODUCT CAN BUILD UPON.


DESIGN DETAILS

BUILD UP, DON'T BREAK DOWN01.

When introducing new functionalities to mobile money,

do not sub-brand them as separate features, but think of

it as an integrated and growing mobile money offering.

[e.g. Do not brand My Targets nor PayLater.]


DESIGN DETAILS

DEFINE A STARTING POINT02.

In order to tune the product to the customer’s level of

sophistication, ensure there is a pre-defined version that

does not require any engagement with the technology

nor the product (default version).

[e.g. introduce a pre-defined target to save for, for many people will be the only one they need and use. Customization is an add on]


DESIGN DETAILS

BUILD ON THE BEHAVIOURS OF CASH03.

Offer all the behaviours available in the real cash world,

only add the benefits of digital money. New behaviours

will need to be established with experience.

[Eg. let PayLater customers also settle in cash]


DESIGN DETAILS

GROW THE USER BASE FIRST, MONETIZE LATER

04.

The bigger the network, the bigger the perceived and

actual value of it. Mobile money products are a classic

networked good that grows in value in proportion to the

expansion of that network.

[e.g. Don't charge for PayLater nor expect it to be profitable. Value will be realized through an expanded network]


DESIGN DETAILS

CHARGE FOR CLEAR BENEFITS05.

When introducing a fee, position as a clear investment

for the customers. Be transparent on how to share the

profit with users such as agents.

[e.g. A fee for breaking a lock could reward those who stick to their targets!]


DESIGN DETAILS

PILOT PLANNING


PILOT PLANNING


SETUP STRATEGY My Targets first. Depth over spread.My Target is the core of our service and it does not require a large network of users or agents in order to be compelling for customers. However it does require proximity to an agent. For the pilot, a high density of agents is therefore a lot more important than a large geographic spread of users. PayLater second. Spread required.PayLater needs a higher penetration of users in order for it to work well. We also see it as an important addition to MyTargets, but not as a stand alone product. It should therefore be introduced to the pilot some time after My Targets.


PILOT PLANNING


The pilot should be used as a way to improve the service and not just to test how it resonates with people. There are a few specific things we would recommend to test during the pilot:

• Is there a need for a pre-set target and how should we name it?

• Do we have a default target with a default date (e.g. ‘Next Month’)• What are the most popular targets?• What are the most popular dates or time frames?• What type of person uses it most and how do they

use it?• What is the success rate or achieving targets?• Do people have workarounds their date?

PayLaterMy Targets

LEARNING GOALS

• What is the credit limit?• How do we make it even safer?• How do we prevent scams?• How do people build up a reputation?• How could a security deposit lock look like?• Who is using it most?• For what is it used?


PILOT PLANNING


Don't forget communication. Use the pilot to answer the following key questions:• What do we call it? After our research in Kenya, we changed the names to MyTargets & PayLater. We have not exposed these to any user and there might be more culturally relevant names, like for example in Swahili.• How do we promote it? Think about key influencers in the area, peer-to-peer referrals and agent promotion.• How do we provide support? Is there a need for a specially trained call center?• How do we find and train the agents? They are key to the service and need to be well informed.

COMMUNICATION STRATEGY


PILOT PLANNING

Thank you

APPENDIX

APPENDIX


APPENDIX

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