01 Project cash inflow
Put money into your account effortlessly
02 Project investments
Democratization of Investments
CONTEXT
Every day, we offered users more and more tools inside the app, such as QR codes, wire transfers, payments, top-ups, among others. However, having money in the account to be able to manage all these tools was not so easy, and it could even imply following several steps and obtaining permissions from outside the app.
Therefore, Instant Debit (DEBIN) was created.
What is DEBIN?
It is a way of putting money into Mercado Pago, which debits an amount from your bank account instantly and credits said amount in Mercado Pago.
GOALS
- UX friendly: To cover all aspects in the interaction between the final user and Mercado Pago, its services and products.
- Simplicity for the user: To make our users able to put money into their accounts in a simple way, without having to log into another app to send money to Mercado Pago.
- Frequency of use: To make the user able to automatically and frequently fund the account.
CHALLENGES
The main pain point was explaining the users that this was a new product and how it worked and gaining the necessary trust from the users so that they would believe in funding security.
We made a real effort so that the user would find that the product:
- Met their needs.
- Can be used with a clear and dynamic interference.
- Is desirable because it understands the user’s needs and it becomes an attractive service.
- Is trustworthy focusing on the user’s trust and security.
- Is accessible focusing on the fact that it is responsive, which means it can be accessed through different platforms.
- Is easy to be found: this is a great challenge considering all the app’s functions.
WHAT WE DID
- We gathered information about our users to identify their needs and our opportunities. Research was key to understanding them: We did interviews to get information and then we examined the results to analyze our KPI (Key Performance Indicator) and measure the evolution.
- We consolidated and optimized the deposit of money by accelerating times with this new initiative.
- We complied with the new regulations and requirements to obtain licenses.
- We provided all the tools and information requests necessary to develop a secure product.
RESULTS
We succeeded in getting users to adopt DEBIN as a mean of money transfer, considering it safe and expeditious.
3 million
USERS PER MONTH
66
BANKS OPERATING WITH INSTANT DEBIT
14.118.794
FUNDINGS WITH INSTANT DEBIT / MONTH
4,7
EARNINGS PER ACCOUNT WITH INSTANT DEBIT/MONTH
02 Project investments
Democratization of Investments
CONTEXT
In 2018, only 1% of the Argentine population had an account specially created for investing money in investment funds (FCI).
For that reason, Mercado Pago decided to take the challenge of expanding the ways to democratize the use of money and started to work to become an investment alternative.
I invite you to learn how we made it happen.
GOALS
- Allowing all Mercado Pago users to invest and produce daily earnings.
- Creating a low risk solution of instant liquidity, that is, to allow users to have their money ready to be used at all times.
- Educating users to build the habit of investing.
CHALLENGES
- Creating an alliance with a partner to work on using the same language and tone for communications.
- Simplifying the investment experience to make it intuitive and to provide the necessary educational content.
- Working with new terms, which many people do not know and are not easy to simplify, as well as developing keys to understand how a FCI works.
- Mitigating the fear related to the risk of making investments through educational content that provides users with the necessary information so that they are able to know what will happen with their money.
WHAT WE DID
We designed the entire proposal, which started by covering all the interactive aspects between the user and Mercado Pago, particularly with our new product.
We created useful educational content so that users could get more information about this investment alternative.
We generated an onboarding which turned the feature into one that would call people’s attention and interest.
We adapted the product to the user’s necessities focusing on quality, but without the ambition of providing more alternatives or creating more complex options, with the sole aim of introducing a new project so that people would slowly start trusting the product.
We got to know our users by means of interviews, a/b testing and polls; and we were empathetic with the context and the investment tendency.
We aimed to make concise content and we limited technical language as much as possible.
RESULTS
Quantity of users who invest
in Mercado Pago
Quantity of users who invest
in Mercado Pago per province
At the time we launched this fund, there were only 376,865 accounts in the country, which represented less than 1% of the Argentine population.
In 2022, the amount invested exceeded 60 billion Argentine pesos.
The mutual investment fund permitted a massive and simple access so that people could invest money using their mobile phones.
In the last 4 years, more than 5 million investment accounts were opened in Argentina. This means that more than 10% of the Argentine population is already investing in a mutual investment fund, which is a historical achievement.
This project was later adapted to Brazil and Mexico.
CONTACT WORK SAMPLES
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