On Demand Funding
Instant payments and funding to merchant debit cards
MY ROLE
UX Lead for Converge
TEAM
Talaia Whisenant
DURATION
6 Months
OVERVIEW
On Demand Funding allows merchants to receive their payments faster.
Unlike traditional settlements that can take days to process, On Demand Funding allows merchants to receive their money instantly to their debit cards. The convenience of having access to instant funds helps the business make money through transaction fees.
To compete in this growing market, leadership wanted to add a same day, instant funding feature to its flagship product, Converge.
The worldwide information security market is forecast to reach $170.4 billion in 2022.
Gartner Research, 2018
PROBLEM
Merchants have to wait days for their money.
Unlike many modern payments applications Elavon did not offer same day, instant payments to our merchants.
How might we give merchants instant access to their funds?
SOLUTION
Offer instant funding to merchants
The solution was to create an instant funding feature where merchants would have to authenticate their accounts, and register their debit cards to instantly access to their payments.
HYPOTHESIS
My team wanted to add a text link for merchants to sign up.
Unfortunately, Converge doesn’t have a home page dashboard like many other applications. The home page shows the merchant’s transactions in a table with a settlement button.
The dev team suggested adding a text link above the settlement button for merchants to sign up for On Demand Funding. I would have prefered a registration button next to the settlement button, but they countered that the table wasn’t wide enough for a button.
I hypothesized that a text link wouldn’t be prominent enough hindering the goal of getting merchants to sign up for the feature.
CHALLENGES
As we developed the feature we ran into a compliance issue.
Along with the text button not being prominent enough, we also had to design for a five day wait period to begin funding a card after enrollment in the feature. This was not ideal for merchants who wanted to sign up and immediately begin funding, our security and legal teams could not find a work-around.
MARKET RESEARCH
funding a card after enrollment in the feature. This was not ideal for merchants who wanted to sign up and immediately begin funding, our security and legal teams could not find a work-around.
COMPETITIVE/COMPARATIVE ANALYSIS
funding a card after enrollment in the feature. This was not ideal for merchants who wanted to sign up and immediately begin funding, our security and legal teams could not find a work-around.
PERSONA
funding a card after enrollment in the feature. This was not ideal for merchants who wanted to sign up and immediately begin funding, our security and legal teams could not find a work-around.
USER FLOW
funding a card after enrollment in the feature. This was not ideal for merchants who wanted to sign up and immediately begin funding, our security and legal teams could not find a work-around.
WIREFRAMES
After many brainstorming sessions, and single sign on market analysis we created UI designs for testing the flows with Elavon merchants.
UI DESIGNS
After many brainstorming sessions, and single sign on market analysis we created UI designs for testing the flows with Elavon merchants.
USABILITY STUDIES
I performed a series of moderated usability studies to see if the design resonated with users.
I created a research plan, test plan, and test cases. I tested the main use cases with clickable prototypes. I wanted to understand if merchants could locate the instant funding link, and also how they performed in the registration flow.
KEY FINDINGS
100% of users thought the link was not prominent enough. They also said they would expect the On Demand Funding enrollment option to be in settings.
Users were confused about the 5 day wait period. They expected to use the feature immediately after enrollment.
“I would have expected to see this somewhere in settings.”
“I missed this link. It doesn’t stand out to me.”
IDEATION
After presenting the findings to my team, I worked with developers to add the On Demand Funding button to the table. Because we used a button component, and now next to the settlement button, merchants should have an easier time finding it.
I also questioned the need for a 5 day wait period with my product team. My concern was escalated to risk and compliance, and they agreed to remove this friction point for our merchants. This was a big win for my design.
A/B TESTING RESULTS
I created an A/B test to test my design updates against the old designs. I tested with 10 users, and found that new designs resonated and surpassed the previous designs.
100% of users found that the button was much more prominent than the link.
100% of users liked that the updated design did not include a 5 day way period.
“Students need a primary prevention solution - something that catches the problem before it arises.”
OUTCOMES
Work has started on the dashboard.
The feature is currently being developed and is projected to create millions in revenue for our company.
I have also started work on a dashboard home page to replace the payment page, that will house quick access features and analytics for merchants.
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