Client:
Tribapay
My Role:
Product Designer
Year
/21
Service Provided:
Product Design, User Experience
The Problem
This problem arises due to several key issues:
High Transaction Fees: SMEs often incur hefty transaction fees when making international payments through traditional banking channels. These fees can significantly eat into their profit margins, making global trade less lucrative.
Slow Transaction Times: Cross-border transactions can take several days to complete, causing delays in critical business operations and affecting cash flow management for SMEs.
Opaque Exchange Rates: Traditional financial institutions often offer unfavorable exchange rates when converting currencies, resulting in hidden costs for businesses engaged in international trade.
Complex Documentation: International payments typically involve a cumbersome paperwork process, including compliance documentation, which can be overwhelming for SMEs lacking dedicated resources for such tasks.
Limited Accessibility: Access to international payment services from traditional banks is often restricted, making it difficult for SMEs to establish global business relationships and expand their market reach.
Process
The project was to be stipulated and completed within 3 months. Design phases were scheduled
between the period of time.
The research stage included the empathising stage (understanding users’ needs), identifying problems and competitive analysis
This included the sketches, customer journey map, task and user flows, creating personas and highlighting the features.
This task entailed creating a design system to work with (colors, spacing, icons). This was carried out simultaneously with the low-fid prototypes done digitally.Testing And Quality Assurance For The Mobile App Development Process
This was the final stage of the design. Creating the actual interactive screens and also prototyping. After this, final touches were made before hand-over
Solution
Tribapay is solving the problem of payment for Africans with over 50,000 users and over £3,500,000($40M) in proceed transactions.
Low Transaction Fees: Tribapay offers competitive and transparent transaction fees, helping SMEs reduce the cost of international payments.
Swift Transactions: The platform ensures quick and efficient cross-border transactions, allowing SMEs to manage their cash flow more effectively.
Favorable Exchange Rates: Tribapay provides access to real-time and competitive exchange rates, minimizing the hidden costs associated with currency conversion.
Streamlined Documentation: Tribapay simplifies the documentation process, guiding SMEs through the necessary compliance requirements and reducing administrative burden.
User-Friendly Interface: The app is designed to be user-friendly, making it accessible to SMEs with varying levels of financial expertise.
Key Takeaways
By addressing the inefficiencies and costs associated with cross-border payments for SMEs, Tribapay aims to empower small and medium-sized enterprises to thrive in the global marketplace and facilitate international trade with ease.
Results
Tribapay is solving the problem of payment for Africans with over 50,000 users and over £3,500,000($40M) in proceed transactions. I was able to collaborate effectively with the developers to build the application from scratch and achieve significant impact in Africa with some of the following traction:
• 50,000+ users
• £685,443 ($820,000) in revenue
• over £3,500,000 ($40M) in proceed transactions
