Installment Payments Made Easy
Design Timeline
1 Month (Mar'23 - Apr'23)
Highlights
Increasing EMI Adoption by 0.56 Million Users
Team Members
20+ Stakeholders: CPOs, Product Managers, Program Managers, Business Managers, Data Analysts, Engineers, Content Designers, and User Researchers
My Role
Sole product designer on the project
Project Summary
01
Problem
How might we make installment payments understandable and appealing for our value-conscious shoppers new to online EMI, so they feel confident in choosing it?
Final Outcome
A personalized EMI flow that progressively reveals relevant information & includes a downpayment option for lower interest rates.
Sneak Peek
What Took Minutes, Now Takes Moments
Components Crafted for Scalability
Why Pay More? EMI Downpayment Is Here
Financial Jargon, Made Human
Just the Right Info, at the Right Time
Impact in Numbers
0.56 Milion↑
User adoption after redesign
0.1 Million↑
In successful EMI orders
Context
02
EMI Crash Course
Equated Monthly Installments (EMI)
Splitting the product cost into monthly payments. It includes the product’s cost + interest.
No-Cost EMI (NCEMI)
The interest applicable on EMI is given as an upfront discount, making the EMI 'no cost'.
Down Payment
Paying a part of the product cost upfront when buying on EMI to reduce the interest.
EMI is Crucial for our Users and the Business
User POV:
EMI makes high-value items accessible for users.
Business POV:
Enabling high-value purchases directly drives the bottom line.
Strategy POV:
Users rely on EMI in offline retail, making this a low-hanging fruit.
How bad is the problem?
Less than 1 in 10 users who chose EMI as the payment method complete their order with it!
Getting to the Cause of the Problem
12 Usability Studies
Funnel Data Analytics
UX Audit Of EMI on 14 Apps
Research Findings
03
EMI Today is 4 Steps Long and Information & Calculation Dense
Step 1: Payments Page
Step 2: Bank & Card Selection
Step 3: Plan Selection
Step 4: Summary & Card Entry
Friction Points in EMI Funnel based on Drop-Off Data Analysis
Payments Page
Bank Selection
Plan Selection
Card Entry
4.6% choose EMI
22% Drop
49% Drop
72% Drop
What The Users Said About EMI today
Key Pain-Points
Time-consuming and unfamiliar process of online EMI.
Low value-discovery of offers and no-cost EMI.
Low clarity on calculations & details for decision-making.
How might we
create a scalable flow that communicates relevant information at each stage of the EMI process in a digestible way?
Wireframes
04
Listing 45+ Payment Scenarios to Accommodate in Workflow
Macro Level: Creating a Flow that Progressively Discloses Information
Micro Level: Creating Scalable Page Components
EMI options page component
Final check EMI details component to review EMI information
Final Designs
05
Quickly Access Your Preferred EMI
Time-consuming and unfamiliar process
Quick and personalized process
Old Experience
New Experience
Social Proofing to Gain User Confidence
Discover Best EMI Deals on Your Preferred Banks
Low value discovery
Find offers on your preferred banks
Old Experience
New Experience
... Quickly
Effortless Plan Comparison with Only Relevant Details Revealed
Low clarity on calculations & details
Easy to digest information
Old Experience
New Experience
Jargons Explained
Quick, Clear Summary for Confident Card Entry
Low clarity on calculations & details
Easy to digest information
Old Experience
New Experience
Takeaways
06
Impact in Numbers
0.56 Milion↑
User adoption after redesign
0.1 Million↑
In successful EMI orders
Learnings from Working with Scope Changes
-
Stakeholder Management: This project involved a diverse group of stakeholders from various teams, requiring me to articulate my design decisions to ensure alignment and understanding across all parties.
-
Project Planning: This project needed precise coordination due to a tight 1.5-month design timeline and an ever-evolving scope. With engineering execution running in parallel, I had to carefully estimate my timelines to effectively communicate with stakeholders.
-
Data-Driven Decision-Making: Throughout this project, I became proficient in understanding business metrics, using them to inform and guide my design decisions.
