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Earn App

Client
project
Category
Web 3, Fintech
DURATION
2 weeks
YEAR
2022

The challenge

Designing and Developing a platform that would allow African digital entrepreneurs receive money from anywhere around the world

The goal

Utilizing web 3 to make payment easier thereby cutting time, cost and process towards receiving payments. While also giving them tools and insight towards making good financial decisions.
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User Research

The research process started with a few conversations with freelancers that are being affected by these problems, these conversations gave me immense insight on how this problem affects them and their current process towards how they are able to receive payments which involved using platforms that made them go through a long list of KYC and account limitations fueled by stigmatization towards Nigerians.
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the process

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After the research we went through a few more design processes before deliberating on the benefits to offer to the users and we came up with 3 potential ones which were

  • Payment which involved giving them access to receive money from anywhere around the world using crypto as the payment mode.
  • Earn, This feature allowed them to save a certain amount or percentage of their earnings in stable cryptocurrencies while also allowing them earn up to 8% interest per annum. This focused on helping them earn more and save without having to move funds around thereby cutting cost relating to exchange rate and deposit fees.
  • Loans, As crazy as it may sound access to credit facility for Nigerians are really low, data from the Financial Inclusion Secretariat shows that formal sector credit penetration as a ratio of the adult population in Nigeria was below 5.3% in 2017. Also with the rising inflation, not having access to credit and always having to withdraw out of savings and sell asset was a pressing issue, therefore we introduced a feature that allows user to take out loans of up to 40% of their total available asset. thereby giving them an edge and allowing them a chance not to always withdraw their savings. PS this decisions was drawn out of a phycological research on why people found it hard to return money borrowed out their savings.

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Conclusion

Being a Nigerian that is also affected by this problem, i decided to join the team to not only design but also utilize my Nocode skills to build out this product, thereby reducing cost and time to launch.

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