P2P express buy enhancements

How can we improve P2P buy order completion rate? How can we increase total trade volume?

What was my role in this project?

As the sole product designer in P2P squad:

  • UX journey audit

  • Alignment with PMs on objectives and negotiate to set as proper requirements

  • UI execution for agreed P0 solutions

  • Quick user validation

  • Sign-off presentations to non-project stakeholders including brand team and senior leaderships

  • Final coordination with animators and completed QA

  • (While also working with 6 PMs on their biz requirements)

What is P2P?

P2P is a peer-to-peer marketplace that allows users in offshore or underserved markets to buy and sell cryptocurrency directly with each other.

Objectives

New users

  • Achieve new P2P user acquisition and

  • Higher end completion rate through new user education

  • Reduce first order disputes and frauds

Existing users

  • Identify a series of user experience improvements for the retention of experienced P2P takers

  • Sustain and improve total trade volume on P2P

Design approach

UX audit for P2P express buy flow

1. Coachmarks

Despite reading the coachmarks, users cannot clearly define the "Express" feature. When matched with a seller in Express, they were unsure why.


Recommendations
Consider whether these coachmarks should remain as it is, and if users don’t even read, then we need to find new method to increase understanding of marketplace and the concept of P2P.

2. Countdown in CTA

Users are uncertain about what the countdown indicates, causing them to feel flustered and uneasy.

Recommendations
Show refresh countdown not in the button but elsewhere if needed.

3. Option limitations

Users shown the seller preview reads and made decisions based on the provided details.

Recommendations
One user suggested a skip or refresh option to switch to the next best option as the completion rate of his matched seller was not ideal

This heuristics are also validated with 6 New-to-P2P users from Vietnam + Argentina, Philippines & Thailand with our existing User Panel. Moderated, incentive given.

1. Coachmarks - Rebuild user education so that people understand the concept of P2P

Instead of going straight to the coachmark solution that maybe no one pays attention at highlighting the features, decided to relook into the actual user’s fears when they trade P2P. Designed a full one-page scroll education page to inform users.

Part 2 new flow designs:
Trying for the first time is scary. That’s why we want to provide users a safe educational place for them to try it out by themselves. Learn by experiencing it intuitively. Reference on the left it’s duolingo’s.

Initial concepts that are validated for acceptance with quick user interviews

The process of getting the designs are not one-off. With the different design ideas and variations done mocked up, I also personally tested with new-to-P2P users to ask for their comprehension of P2P after

2 & 3. Countdown & limited options

What is expected from PM: From our findings is that one, user don’t know what the countdown means, and two, users, under preview order section wants to have skip or refresh option if the current match is not ideal.

Current flow below:

What as PD I proposed differently: Relook at the journey to place the “Skip” option even before “Preview order” page. Instead, we can give user the ad matching criteria upfront:
1. Best Price
2. Best Completion Rate
3. Online now

See designed solution below:

Working with devs on specific error permulations

Issue: Insufficent error communication on order limit

Besides designing for zero-to-one flows or new screens, small increments matters as well. In this case, several users overlooked the order limit in the P2P marketplace. They either assumed the minimum amount was the same as the 'Buy' section or failed to notice the grey order limit text until after several attempts.

Buy amount: If user enters USD amount and it falls under order limit, error validation for order limit will show.
Then, if that causes USDT conversion to go beyond the merchant’s available balance, the field border will turn red.

Why solutioning with devs matters: As PDs working with PMs, we might not be aware that there are more than 1,2 scenarios and therefore spending time with dev and content solutioning is the best way to get solutions in this scenario.

Post-performance metrics

1. P2P order completion rate up

The recent roll out for past 1 month we have seen a higher order completion rate to 68.6%. More localisation will be done as next steps once results concluded.

2. Reduced order cancellation for first buys

Takers also are able to comprehend and therefore less order cancellations. Overall Order Cancelation Rate from Order Timeout: decreased from 22.1% to 17.4% (-21.30%).

3. Merchant’s check-ins

We also checked in with our business partners and merchants to ensure that solutions aligns from a dealer’s perspective.