OVERVIEW

Simplifying International Transactions for Nigerians

Sendcash is a revolutionary platform that streamlines the process of sending money internationally to Nigerian bank accounts using cryptocurrency. By providing users with a unique crypto wallet address for each transaction, Sendcash enables senders to transfer digital currencies (USDT & BTC), which are then automatically converted and delivered to the recipient's Nigerian bank account in naira. This approach eliminates the complexity and high fees associated with traditional cross-border transactions, making it easier and more affordable for Nigerians to receive money from abroad.

Outcome

PROBLEM STATEMENT

The Challenge

New users often struggle with the complexity of starting to use a cryptocurrency-based service. This complexity comes from the detailed information required for compliance with regulations, the unfamiliarity with digital currency platforms, and the confusing process of setting up an account, linking bank accounts, and making an initial transaction.

Understanding the Landscape, Nigeria presents a unique set of challenges when it comes to cryptocurrency adoption. Despite the country's high mobile and internet penetration rates, which should theoretically provide a solid foundation for digital financial services, cultural and educational barriers have impeded the widespread acceptance of cryptocurrency. Many Nigerians have limited exposure to digital currencies and are often skeptical due to the prevalence of scams and fraud in the crypto space.

Additionally, the regulatory environment is still evolving, with the Central Bank of Nigeria having placed restrictions on cryptocurrency transactions in the past, creating uncertainty and fear among potential users. This backdrop makes it essential to provide a clear, reassuring, and educational onboarding experience that can build trust and guide users through the initial setup process with confidence.

Identifying Friction Points

The first thing I did was to go through the app's data to find out what the metrics indicated about user behavior, such as drop-off rates and transaction errors. I then performed an audit on the existing onboarding process to identify any possible friction points and areas for improvement. This audit was aimed at pinpointing exactly where users were encountering difficulties and why these issues were occurring, providing a clear roadmap for enhancing the onboarding experience.

1

User engagement with transaction features was low, with only 20% of registered users making a transaction within the first week.

2

35% of new users made erroneous transactions which resulted in failed transactions and loss of funds.

3

20% of new users contacted customer support within the first week regarding difficulties with the app interface or transaction process.

4

Analytics showing many users repeatedly attempting the same steps, implying a confusing flow

5

Lack of guided walkthroughs for key steps like verification and wallet setup

6

Unclear error messaging and lack of handholding for users new to crypto

7

Unclear technical details and terminology around fees, exchange rates, etc.

These insights provided a clear roadmap for improvement, highlighting the areas where I needed to focus my efforts.

Mapping it out

To enhance the onboarding experience, we implemented a redesigned and streamlined user journey, triggered by a new user's succesful onboarding and a auxillary access point in the settings page :

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SOLUTION

Simplifying the Transaction Process to Reduce Errors

We transformed the transaction flow into easy-to-follow steps that guide users through the entire transaction, from buying Bitcoin to sending it to the recipient. The app asks users if they already have Bitcoin, and if they don't, it shows them exactly how much they need to buy and recommends trusted platforms, complete with video tutorials. Sending Bitcoin is streamlined, with easy copying of amounts and wallet addresses. I included a confirmation screen that clearly displays all the transaction details, so users can double-check everything before hitting send. After the transaction is initiated, the app keeps users in the loop with real-time updates on the transaction status, all while having the transaction details readily available for reference.

The best part? We saw a huge jump in successful transactions and way fewer user errors and support requests. It's was an awesome journey making cross-border crypto transactions more accessible for Nigerians!