Venmo

: autopay

Introducing a new transaction feature to address a recurring split payment issue.

PROJECT DURATION
2023/10 - 11 (6 weeks)

CHALLENGE
Utilize existing components
and expand their usage to
accommodate new features
at scale.

PROJECT TYPE
Personal Project

SKILLS & TOOLS
UI/UX
Prototyping
Figma
Iconography

How do you manage recurring
joint payments with friends?

Background
Venmo is one of popular digital wallet for easy money transfers among friends, with social feed for transaction viewing and interaction.

83% of Venmo users are aged between
18-34 years of age.

Many young adults share living spaces with roommates, resulting in shared monthly expenses like rent, internet, utilities, and subscriptions.

According to a 2018 Pew Research Center study,
nearly 1 in 3 U.S. adults live with at least one adult roommate.

“
What challenges are venmo users
encountering with transactions?

Problem

They forget to request or make
payments for their portion of recurring
shared expenses.

Based on the Apartment Guide survey, 22.6% answered
they are arguing with their roommate about finances.

Brief

Set up automatic transfers for recurring
payments, such as fixed expenses,
to ensure joint spending.

UXR Insight

Users need auto-payment functionality with customizable settings, providing them with a sense of control over their financial transactions.

I interviewed five adults who use Venmo to understand their experiences with
the platform and to learn about their experiences with setting up automatic
payments for recurring bills from other platforms.

Goal
of using autopayment

· Convenience
· Avoiding extra penalty charges
· Peace of mind

Pain points
of using auto payments

· Difficulty in keeping track
· Uncertainty about available balance
· Lack of reminder setting capability
· Risk of failed payments
· Potential risk of auto-payment manipulation by others

Needs
for setting auto payments

· Addressing issues arising between auto-payments
· Tracking recurring payments
· Quick access to advance recurring payments
· Notifications