Payout Method Overhaul

What is Prepaid2Cash?

The Prepaid2Cash mobile app allows customers to exchange their unwanted gift cards and prepaid cards for cash sent directly to their bank accounts.

Problem

When submitting a prepaid card transaction on the Prepaid2Cash app, customers can choose how fast they want to receive their funds. Originally, customers could only choose to receive their funds the next business day or in 4-5 business days. However, we frequently received requests for faster delivery speeds and for more versatile payout methods. We knew an instant payment option was highly requested. We also had several individuals requesting to be paid in Bitcoin as opposed to traditional currency. The requests for more flexibility with payout methods only increased during the COVID-19 pandemic. The need for flexible access to funds had increased exponentially and our existing payout methods were not adequate enough for our customers.

Brainstorming

Based on customer support requests, we knew there was a lot of interest around more variety in payout methods. To quantify the demand for more payout methods, we created a short survey to send to all active users of the app. In the survey, we asked each user if they were interested in an Instant delivery speed and if they were interested in being paid via Bitcoin. The response was a resounding yes, customers were very interested in both Instant and Bitcoin payout options. Instant Payout was popular amongst the more occasional customers who used Prepaid2Cash when they received prepaid cards for rebates or as gifts on special occasions. Our more high volume users (pawn shop owners and online bidders who received prepaid cards at a discounted rate) were very excited about the option to turn those funds into Bitcoin.

The Product Manager and I met to discuss how to incorporate these payout methods into the current workflow. Since the 4-5 business day payout method was the least frequently used option, the decision had been made to remove that processing speed. Another reason we removed the 4-5 day option was that, with adding 2 new payout methods, we did not want to force the user to scroll through a growing list of payout options in order to find the one they wanted. We decided it was best to keep the payout options brief as long as they met the customer’s needs.

We decided that the workflow for the remaining processing speed of one business day would not be changed. Because of this, I knew that the workflow for the two new payout methods needed to seamlessly flow with the existing process. I wireframed a few options on paper during this discussion. In the beginning, it seemed like a straightforward addition and I assumed this would be an easy project.

Design

I felt like it was important to highlight the benefits of each payout method. We were adding two new methods, and customers needed to quickly understand the difference between the methods so that they could make an informed decision. On the initial Choose Transaction Method screen, I incorporated icons to depict speed for Instant Payouts, a calendar for the one business day payout, and the Bitcoin logo for Bitcoin. I also updated the flags on each payment type to Quickest, Value, and Crypto for Instant, one day, and Bitcoin respectively.

For Instant Payouts, I added a screen for the user to scan or enter their debit card number and the expiration date. Instant payments must be sent to a debit card, so this was a new process to add to the app. To scan the debit card, I incorporated a debit card scanner, similar to the scanner used when the customer is scanning their prepaid card. I added a date picker for the debit card’s expiration date. I also updated the final Review Transaction Details screen to include information specific to Instant Payouts.

For Bitcoin Payouts, I added a screen where the user could manually enter their Bitcoin wallet address or select the QR Code icon to scan their Bitcoin wallet’s QR code. I added a QR code scanner similar to the debit card and prepaid card scanners in the app. Lastly, I updated the final Review Transaction Details screen to include information specific to Bitcoin Payouts.

Results

Once I completed the designs for the new payout method workflows, I realized that we would also need to give the user the ability to proactively save their debit card and/or Bitcoin wallet information to their profile. Users already had the ability to save their bank account information to their profile, so it made sense that they should also be able to save the other payment methods in their profile as well. This had been an oversight on our part originally, and added additional complexity to the development and release of these new payout methods.

Instant Payouts are now live in the Prepaid2Cash app and are wildly successful! Over 60% of prepaid card transactions are submitted using the Instant Payout method. Due to unforeseen development delays, Bitcoin Payouts are not yet live in the mobile app, but that is expected to be released by the end of the first quarter of 2021. Bitcoin is also expected to be very popular among customers of Prepaid2Cash.

Iterations

Below are images of the many iterations I designed before reaching the final design, depicted above.