NFC payments for Mercado Pago
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Mercado Pago is Multinational leading fintech company in Latam.
This project was carried out in 2020 for its virtual wallet in Brazil, the challenge was to integrate NFC technology to allow contactless payments.
I was involve in the entire process of this project, from the opt-in to the settings of the new feature.
Context
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Objectives
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First /
Incorporating a new form of face-to-face payments through NFC technology.
Second /
Being able to access a virtual credit or debit card almost immediately, and lowering the number of plastic cards issued
Third /
Expand the capillarity of payment networks
About the challenge
Competitive analysis
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The analysis of the competition was done through the observation of similar experiences of other wallets, but there were no virtual wallets in Brazil that allowed this type of payment.
Conclusion /
Contactless technology is relatively new in Brazil, that's because most of players focus in an educational approach in every part of the flow.
They stand out attributes like safety, ease and fastness.
What our users think about NFC
Our pain points
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Communication strategy.
Coordinating experience and communication overall.
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Feature Name
Our first task was to define how the people recognise this method of payment.
According to the benchmark and a research made with payers and sellers, 100% of user recognise the term:
"Pagos por aproximação"
Value Proposition
We highlight the novelty of contactless payments:
"You can make payments in thousands of locations without bringing your wallet, you just need your cell phone at hand."
How to tell the story
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The decision was to to identify a specific idea to communicate depending the flow stage.
We used the customers lifecycle funnel to accomplish our goal.
Awarness / What is the product and what is it good for?
Focus story: Sense of novelty and were you can pay
Flow stage: Product offer
Acquisition / Why is it convenient to me and how do I get it?
Focus story: Benefits with this kind of payments and setup for the payment moment
Flow stage: Onboarding + Enrollment
Activation / How it activates and works?
Focus story: Security and first payment encourage
Flow stage: Status + First use Journey + Payment flow
Retention / What else can I do with this?
Focus story: Security and first payment encourage
Flow stage: Status + First use Journey + Payment flow
MVP Designs
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Offering & onboarding
The main goal is feature activation.
The experience is oriented to highlight this new feature, NFC icon recognition and communicate where to pay, how to pay and security measurements.
Payment flow
The main goal is payment success.
The experience is based in an animation to reinforce what to do in each step and give to the user feedback por each completed task.
Configuration
The main goal is easy feature configuration.
We added a “panic button” were the user can “pause” the card to give the sense of security and control.
Resoults
At October 2022
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500M R$ in transactions
made through this method with Mercado Pago.
⇡ 11M
total amount of payments.
⇡ 670K
monthly average contactless
payments made.
payments made.