Streamlining the Group Transaction Process on Venmo
How might we make large transactions more manageable?
Role
Product designer
Timeline
3 months (September 2022 - December 2022)
Team
Myself! (Independent case study)
Skills
Visual design Design systems Prototyping
Tools
Figma Figjam
Project Overview
From paying for my portion of Spotify’s family plan to buying a succulent for my friend’s fundraiser, Venmo has always been my go-to for sending and requesting money. Whenever I’m eating out with my friends, I feel comfortable paying for the bill as there’s always an unanimous we’ll Venmo you as I put down my card. Venmo has achieved something most brands only dream of: brand “verb-ification”. The app has gained traction because of the unique social aspect to being paid and paying in a fast and safe manner.However, when I’m with larger groups of people, especially acquaintances I don’t know well, I’m more wary of covering for the whole group as I have less confidence that I’ll be paid back in a timely manner or paid back at all. Do other people feel the same about handling larger transactions?
Understanding Why Large Transactions are Trickier
To understand why and if other Venmo users felt less inclined to deal with larger transactions, I interviewed five different Venmo users and one Zelle user (outlier). This is what they said:
1. “It’s really annoying to be the one calculating, receiving, and having to keep track of who has sent me the money and who hasn’t.”
2. “Especially if the sum of money they owe me is little, I don’t want to seem petty but I still have to ask for it back because it’s my money and I want it back.”
3. “Some people are not reliable in paying me back and if I pay, I might be paying the tax if they don’t split it correctly.”
The Problem
When I pay for large checks and bills, I want to be able to receive all the money I’m owed in a smooth and efficient process, but I can’t do that well because:
1. People pay me the incorrect amount and they often don’t factor in additional fees.
2. It’s time consuming to calculate the amount everyone has to send me.
3. People forget to pay me and I feel uncomfortable requesting money, especially when the amount is relatively small or from unfamiliar acquaintances.
The Goal
How might we make large transactions more manageable?
The Solution
I designed a group transaction feature that streamlines the process of calculating, requesting, and viewing large transactions.
Now, How Did I Get Here?
Brainstorming
I recruited two friends (shoutout Angie and Michelle <3) to join me in a brainstorming session. 100 sticky notes later, we narrowed the possible solutions down to three features:
Group Payments
Giving users the ability to create groups within Venmo allows for a more efficient and organized way of requesting money. Groups will allow users to view how much each group member owes in one centralized location. Group payments can also serve as an outlet in removing any feelings of awkwardness when requesting for money, as the request comes off as less personal.
Automated Calculations
Automating the process of calculating how much each person owes reduces the responsibility of the person that is owed money while simultaneously minimizing the room for error for inaccurate calculations, especially when this feature takes into account of additional charges like tip and tax, which are often forgotten.
Recurring Reminders
Creating a feature that allows users to set up recurring reminders aims to reduce any personal feelings and feelings of awkwardness that are associated with requesting money. A recurring, automated reminder system will reassure the person paying for the larger check or bill that they will be paid back - as the people they are paying for will be constantly reminded of how much they owe.
Deciding the Final Feature
After evaluating the strengths, weaknesses, opportunities, and threats of the three features, I realized that my third feature, recurring reminders, was too limiting. With recurring reminders, users may be too overwhelmed by the constant reminders and notifications which may cause them to just delete Venmo. With my user research findings in mind, I decided to combine my first and second feature as group payments and automated calculations complement each other and address all aspects of my people problem.
Implementing Group Payments
To determine where and how group payments would fit within the current Venmo ecosystem, I created an information hierarchy diagram. I experimented with different entry points to see where users could create new groups and locate previous ones. During interviews, I had asked frequent Venmo users to walk me through how they completed a typical Venmo transaction. In every interview, it was natural for the user to start a transaction by clicking the Pay/Request button and then selecting the user they wanted to pay/request. It was clear to me then that users would find it most logical to create a group payment the way they would start a normal transaction - right after they click the Pay/Request button. This new feature needed to be easily accessible while not interrupting the user’s normal flow. Another trend I noticed during user research was that users would view their past transactions on their profile page. For my feature to fit seamlessly with the larger Venmo ecosystem, it was most reasonable to allow users to view their past group transactions on their profile page as well.
Creating New Groups
After identifying the two entry points and user flows, I explored visually through medium-fidelity mockups. With an emphasis on intentional design, I weighed the pros and cons to see which design best served the user’s experience and addressed the problem at hand. I decided to move forward with Option A, as it offers users the most freedom in selecting group members while providing a natural flow to what Venmo users currently experience.
Viewing Previous Groups
The second entry point exists on the user’s profile page, where they can access previously pending groups - whether it be to keep track of who has paid and who hasn’t, to remind specific people to pay, or to reuse the group for another transaction. I created two medium-fidelity mockups to visually explore the different ways groups would be accessed: either through a drop-down button on the same page as the profile page or navigating to a different page. In this case, Option B seemed to be the better choice as it allowed for information to be organized and accessed easily without overwhelming the user and cluttering their profile page.
Reminding Previous Groups
I also explored two different ways users could send reminders to group members on fulfilling requests: one singular Remind button or Remind buttons for each group member. I moved forward with Option B as multiple Remind buttons granted the user more freedom in who they were reminding.
Final Feature Flows
After concept testing and solidifying that the group payments feature addressed the People Problem, I created the final prototype.
Conclusions & Looking Forward
As an avid Venmo user and someone who probably spends more time crafting punny captions for their transactions than they really should, I thoroughly enjoyed every minute working on this case study. Venmo’s promise of being a fast, safe, and social way to pay and get paid holds true, but there’s always room to improve. I hope that my final prototype serves as an option to creating even more seamless and efficient group transactions on Venmo.
As someone who has much more to learn about product design, I am extremely grateful to have had the opportunity to work on a project like this. Over the past 3 months, I’ve learned so much about the design process and grown not only as a designer but also as an individual. A special thanks to my TAs (Liam and Michelle) and my critique group for providing different perspectives and fostering such an inspiring and motivating environment. I’m excited to see the ways in which I will continue to grow and learn!
