Add a Feature: Venmo

Streamlining transactions and enhancing Venmo's functionality with recurring payments feature

About the Project

Scope: Solo Student Capstone Project

Timeline: 80 hours

The Product

Venmo is a popular social money sharing app that provides an easy way to pay friends and family

The Problem

Many Venmo users make recurring payments, such as rent or shared bills, on a regular basis. However, manually sending these payments each time can be time-consuming and inconvenient.

The Solution

My project aimed to solve this issue by introducing a new conceptual feature that allows Venmo users to set up recurring payments. With this feature, users can choose to make weekly, bi-weekly, or monthly payments and have them automatically sent on the desired date. By providing users with more control over their payments, I aimed to improve the overall user experience of the Venmo app.

Discover

Competitor Research

During secondary research, I evaluated three key competitors in the peer-to-peer payment space. A few key findings:

  • High fees and limited availability outside the US can discourage users from using competitors for regular payments.

  • None of the three peer-to-peer payment competitors I evaluated allow for automated payment to private parties.

  • Venmo's new recurring payments feature would offer increased user control over regular payments.

  • Venmo's recurring payments feature would fill a gap in the market, providing a unique and valuable solution for users.

User Interviews

During my primary research phase, I conducted interviews with four regular Venmo users. Participants identified the following recurring pain points:

  • Difficulty finding transaction history: Participants reported frustration with the Venmo app's transaction history feature, which they found difficult to navigate and search for specific transactions.

  • Lack of automation in payments and balance transfers: Users expressed a desire for more automation in the payment process, including the ability to set up recurring payments and automatically transfer balances between accounts.

  • Repetitive manual tasks: Participants reported frustration with the need to manually repeat certain tasks, such as entering payment information for regular transactions or requesting payment from others.

Define

User Mindsets

By incorporating user mindsets into my design process, I was able to create a more user-centered and effective solution for Venmo users. Key points my mindsets addressed were:

Peace of Mind: I recognized that users want to feel confident and secure when using Venmo to make payments and manage their finances. Opportunity: Ensure transparency, security, and trust in payment workflows

User Control: I understood that users want to have complete control over their financial transactions and preferences. Opportunity: Provide customization options for payment settings, recurring payments, and account balances.

Keeping the User Updated: I recognized the importance of keeping users informed about their financial transactions and account activity. Opportunity: Offer regular updates and notifications about payment activity and account security.

Concept Description

Develop a conceptual feature for Venmo that allows users to set up recurring payments to be sent or requested at weekly, bi-weekly, or monthly intervals. The feature is designed to make it easier for users to automate payments for recurring expenses and receive notifications before payments are made. Key details of the feature include:

  • Recurring Payments: Users can set up recurring payments for expenses such as rent or other shared expenses

  • Customization Options: The feature provides customization options for payment intervals and notification preferences.

  • Notification System: The feature sends users a notification 24 hours before the scheduled payment or request, providing them with peace of mind and ensuring they have sufficient funds available.

Develop

Principal Interactions

To address my users' needs for control, updates, and peace of mind, I created task flows for key actions such as setting up a payment, changing or deleting payments, and viewing upcoming and past payments. By providing users with a streamlined process for managing recurring payments, I aimed to reduce the stress associated with managing finances.

Key Screens

Sketches allowed me to iterate on ideas quickly and make adjustments on the fly. These flows display how the new feature would seamlessly integrate into Venmos existing design and helped me identify potential usability issues early on in the design process

Usability Testing

Usability testing with four participants revealed several issues with my initial screens. Based on their feedback, I made the following priority iterations:

  • “Delete Payment” Screens: Users expected to be able to delete or cancel a payment on the same screen where they edited it.

  • Pay Screen Language: Adjusted wording to clarify that payment wouldn't be processed until the user inputted customization options.

  • “Edit Payment” Screens: Users had difficulty finding the dollar amount when editing payments. I addressed this by implementing better visual hierarchy principles.

Deliver

Setting Up a Recurring Payment

My new feature seamlessly integrates with the existing payment flow, enabling users to create recurring payments as easily as one-time payments. By default, users can send a one-time payment, but with just a few taps, they can select the option to create a recurring payment that meets their specific needs.

Adjusting an Upcoming Payment

My new feature addresses the inevitability of life changes and shifting expenses. With multiple access points, users can easily adjust their upcoming payments

Deleting an Upcoming Payment

Instant and easy access to be able to delete an upcoming payment is a crucial part of the added feature as it keeps the user always in control. With just a couple of taps, users can quickly delete a scheduled payment and maintain control over their finances.

Wrapping Up

Adding a new feature to Venmo was a lot of fun! Working within existing brand guidelines was a valuable experience as I was working with strict constraints. A few lessons I’ll carry with me for future designs:

  • Flexibility in design is a must. In the final hours of this project, Venmo released an updated version with significant changes to its UI. This meant backtracking on some copywork and reworking how to integrate my feature. An extremely valuable lesson in adaptability!

  • Small changes create big impacts. While I thought I was making a small change to Venmo, my design caused many small changes across the platform.

  • Visual hierarchy and language are crucial. Through usability testing, I learned the importance of clear visual hierarchy and language in making sure users can easily understand and interact with the feature