Venmo
Adding a Feature
Introducing Venmo's Latest Addition: Customizable Events! Simplify group expense management by crafting tailor-made events for various occasions. With Venmo's user-friendly interface, effortlessly customize expense sharing with friends.
Project Timeline: 5 weeks
My Role: UI/UX Designer
Tools: Figma, Fig jam & Miro
Solution
Despite its popularity for transferring money among friends, Venmo falls short in providing comprehensive category customization. This problem is a big hurdle because it makes it tough to organize and divide expenses fairly among a group of users.
Problem
Introducing a new feature into a popular app like Venmo allows users to personalize events, invite specific groups of people linked to those events, and effectively manage diverse expenses while customizing them according to each individual's involvement. This feature also enables users to collectively track and promptly settle expenses within the same app used for expense management.
Discover
How did we get here?
Reaching this conclusion required engaging in exploratory research to gain insights into the realm of the problem, showing empathy towards users, and revealing their needs, wants, and goals.
Understanding how to implement a new feature
RESEARCH GOALSTo guide the research, our emphasis was on answering three key questions:
What unique requirements and hurdles do users face when handling group expenses, and how do they currently manage them?
Assessment
How user-friendly is Venmo’s expense management process, and what motivates users to opt for it over third-party alternatives?
Usability
What drives users to select Venmo with improved expense-sharing capabilities over third-party options, taking into account their challenges and preferences in expense calculations?
Incentive
Bridging the gap between money transfer and expense organization through a thorough comparison with competitors
COMPETITOR ANALYSISTo enrich our secondary research on existing group expense management apps, we performed a competitive analysis. This analysis primarily focused on competitors specializing in this area that might include Venmo as a third-party app.
Exploring challenges in group expense sharing
USER INTERVIEWSIs there a more effective way to gain a deep understanding of the needs and difficulties faced by potential users than by directly conversing with them?
We have meticulously chosen individuals with experience in sharing expenses within a group and both frequent and non-frequent Venmo users. Our goal is to gain insights into their current processes and whether they use third-party apps, as well as what aspects of these apps they find appealing.
5 remote interviews
30-minute to hour-long sessions
A mix of Venmo & non-Venmo users
Experience in managing expenses within a sizable group
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1. What is a recent experience when you had to split expenses with a group of friends?
• What were the circumstances, and how did you handle it?
• Have you ever used any expense-sharing apps or tools to simplify the process?
- If so, what was your experience like?
2. Could you walk me through the process you currently follow to track and settle shared expenses among your friends?
• What worked well, and what could be improved?
• How do you typically decide who pays for what within your friend group, and ensure it's fair for everyone involved?
3. In your opinion, what are the most common challenges or pain points when it comes to sharing expenses within a group of friends?
4. Have you ever encountered any unexpected or hidden costs when splitting expenses you weren't initially aware of?
• How did you address them?
5. Can you share any creative or unique solutions or strategies your group has used to manage shared expenses more effectively?
6. What features or functionalities do you think are crucial in an app designed to help friends split expenses?
7. How important is privacy and security when sharing financial information with a group of friends?
• What do you do to manage those concerns?
8. What do you think would make an expense-sharing app stand out and be more appealing to you and your friends?
9. In your ideal scenario, how would you like to see technology make splitting expenses among friends easier or more enjoyable?
10. Is there anything else that I haven't asked that comes to mind overall with the app that you'd like to see added or enhanced?
Define
What did we learn?
Analyzing the data gathered from our research to identify primary users and the problem we can address for them.
Users are in search of support while moving, but they encounter challenges due to its complexities
AFFINITY MAPPINGBy deconstructing insights obtained from individual interviews and then reconstructing them using affinity mapping, we successfully recognized significant trends and recurring patterns.
Patterns
Predominant usage centers on payment apps like Venmo or Zelle.
Usage
Mostly relied on a manual approach, using the calculator and notes apps to track and compute expenses.
Manually
The process of splitting expenses was more labor-intensive and time-consuming than necessary.
Timing
Expressed frustration with receiving timely payments and the need for diligent follow-up on payments.
Accountability
All recommended to document each expense promptly and not postponing it until later.
Notating
Preferred having expenses laid out and having a visual record of them.
Visuality
Needs
Assist users in their calculations and automate mathematical operations for them.
Automation
Wish to decrease the count of apps on their smartphone and transition to a comprehensive single platform.
Integration
Method for sending payment reminders for outstanding balances and continuing to send reminders until the balance is settled.
Reminders
A means for the group to have a comprehensive view of expenses and conveniently contribute their portions.
Collaboration
Desire for the expense-splitting process to be as straightforward and hassle-free as possible.
Simplicity
A peek into individuals who could constitute our target demographic
PERSONASFrom affinity mapping, we've identified two user personas crucial to our product design. These individuals, our target users, will provide valuable insights. One is a frequent traveler often tasked with group planning, while the other is a newly engaged person managing a significant event involving multiple parties.
My primary objective was to highlight the versatility of the feature, demonstrating its applicability to diverse purposes, ranging from travel enthusiasts to those planning weddings.
How can we help?
Users who are organizing an event seek a simple method to monitor event-related expenditures. Who wish to form groups that involve others and maintain transparency regarding owed amounts, all conveniently managed within an app that facilitates direct payments.
How might we…
…minimize errors in expense splitting among groups of people?
…develop a system that accurately divides expenses among group members?
…improve the overall financial experience for friends who are planning an event together?
…streamline the process of sharing expenses within a group, making it more convenient?
…promote the use of digital tools for expense management within groups?
Design
How can we solve this?
With a well-defined problem and a clear user base, it was time to think big and brainstorm solutions while building roadmaps for the future.
Expanding the capibilities of a payment app
A NEW FEATUREWe settled upon an idea to allow users to manage expenses within the same app conveniently.
Venmo allows you to pay and request money from your friends. At its core, Venmo provides a social way to pay your friends when you owe them money and don't want to deal with cash.
Our research has unveiled that users appreciate Venmo's simplicity and user-friendliness when conducting transactions. Nevertheless, although it allows the inclusion of multiple individuals in a transaction, it has limitations when it comes to personalizing it for specific events or categorizing it.
So, how might we achieve this personalization?
By giving users the ability to personalize events, invite specific groups of people associated with those events, and efficiently manage various expenses while tailoring them to the individuals involved.
Enables participants to collaboratively view, and promptly settle, expenses within the same app used for expense tracking.
Creating the road for testing
USER & TASK FLOWSIn the next phase, we worked on sketching out key user pathways, essentially creating roadmaps for testing our product features with real users. To ensure we explored all the capabilities of the feature, I came up with two tasks. The first one involved creating an event and adding people, establishing a space where the event is organized. The second one demonstrated how to add expenses and explore the available options.
User Flows
Task Flows
Click to enlarge user or task flows
Visualizing the solution
WIREFRAMESWe initiated the process by creating low-fidelity prototypes. This included my reference to the existing Venmo app and a back-and-forth effort to replicate numerous elements from the app. This approach served as a helpful reference, providing us with a practical example of what the final design might resemble.
Low-Fidelity
Deliver
How can we improve?
Bringing all the components into a functional prototype for further testing and prioritizing necessary revisions.
Expanding the brand identity
UI COMPONENTSHarnessing the wealth of UI elements available in the existing app, I conducted an extensive exploration to identify elements that could be seamlessly transformed to suit our new feature's requirements. Drawing inspiration from these elements, I aimed to integrate them cohesively with Venmo's distinctive color palette, preserving the clean, modern aesthetics characterized by bright and uniform colors that define the app's overall look and feel. This approach maintained the app's fresh and uncomplicated appearance.
Click to enlarge user interface
Applying feedback from usability test
ITERATIONSWe conducted four user tests to assess completion rates, overall satisfaction, and identify any outstanding usability issues. Participants, a mix of Venmo/non-Venmo users, were assigned two task flows. Two of these participants were originally involved in the interviews, and three tests were conducted remotely, with one being done in person.
To sum it up, users had a great experience with the new app feature. They found it easy to use, user-friendly, and a valuable addition to Venmo for making expense splitting a breeze. Their feedback was constructive with just a few minor suggestions. They liked how it introduced new possibilities and once they got the hang of it, they found it simple to use and remember. Many felt like it was a natural and seamless addition to Venmo.
Event Expense Management Made Easy
MOCKUPSWith the introduction of this innovative feature in Venmo, users gain the ability to effortlessly organize events and seamlessly collaborate with friends. By establishing a dedicated category in the navigation bar, users can conveniently access all their past and ongoing events or create new ones. Upon selecting an event, they are directed to the event dashboard, where they can add friends and manage event-related expenses efficiently on a single page.
Click to enlarge
Expense Customization: Splitting Simplified
By enhancing the existing expense splitting feature in Venmo, we've broadened the horizons of customization. Now, users have the freedom not only to designate the payer but also to fine-tune the expense division. Whether it's splitting equally, by exact amounts, percentages, sharing, or making specific adjustments, these options provide a tailored and transparent experience.
Click to enlarge
Live prototype
Click your way through this prototype to experience the design for yourself.
Where do we go from here?
NEXT STEPSReturn to the users for further testing of iterated flows
Handoff to developers
Launch product and keep making iterative improvements based on both user feedback and company objectives.
REFLECTIONRecalling the past, anticipating the future
Understanding the app: Initially, this feature might seem like an intriguing addition to an already popular and functional app. However, my goal was to simplify expense management during special events and eliminate the need for third-party apps. To achieve this, it was essential to maintain Venmo's user-friendly and clean design while ensuring that the new feature seamlessly integrated into the existing UI. The focus was on making it simple to understand and highly customizable, particularly for group expenses. This added feature has the potential to attract more users to the app, setting it apart from the competition and encouraging users to explore the app's other offerings.
If I had more time: Upon completing this project, I aim to continue incorporating additional enhancements based on user feedback. One prominent pain point that emerged during user interviews was the time-consuming aspect of managing expenses within groups. Users expressed frustration with the waiting period for expense settlements once created. I see this as a potential avenue for introducing another feature that revolves around sending improved notifications to individuals and providing users with estimates of when to expect payments. After conducting another round of user testing to gather valuable insights and assess user reactions, I believe the potential for this feature is limitless.
