Hi Fintech teams, we just wanted to make this document to give a bit more context to the fintech challenge
Introduction to the Problem Statement
- You are the PM of ‘FunPay’, which is a fictional version of PayPay in Japan. So when you think about things like services, functions, features super app, mini apps, user base, branding of FunPay etc please use PayPay as your reference point
- PayPay’s goal as a company is to reduce the usage of cash centric transactions in Japan, and also to incentivize financial stability. They do this through various functions like
- QR code payment
- Online Payment
- Bank, Credit Card and Investment etc
- The PayPay app is available in English as well, so please download it and try to understand its UI/UX and offerings
- Your main challenge is
- Introduce a new use case mini app for the FunPay ecosystem
- increase engagement as well as daily transactions
- target audience can be senior citizens or young people under the age of 20
Part 1 - Ideation
- Think of different user segments and the segment you want to target → It can be more specific like 15-18 year old males etc
- How your product helps solve a specific need → What pain points are you tackling for this user segment or in general
- Why should this be a mini app on FunPay and not an exclusive app that some competitor cannot replicate → How can you leverage the ‘FunPay’ ecosystem to make this a non-copyable app
- User flow diagram → If applicable
- Wireframes & Prototypes
Part 2 - Launch
- Explain your launch or Go-to-market strategies for this feature
- How would you promote this feature to your user base?
- How will you get your product targeted to users in the “FunPay” super app ecosystem where it will be competing against other products.
- How will you promote this within the FunPay ecosystem, and still be in sync with other mini-apps
- Are there any synergies with existing apps in the ecosystem?
More info about PayPay
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PayPay Celebrates Its Third Anniversary!Taking a look back at the three hectic years. | PayPay Inside-Out
Today, October 5, is PayPay's birthday! The PayPay app was released on the same day three years ago in 2018.
Ask the CEO, All About PayPay! | PayPay Inside-Out
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The State of Cashless Around the World : a PayPay Inside-Out and SoftBank News Collaboration | PayPay Inside-Out
When talking about the group companies of SoftBank Corp. (TOKYO: 9434), one would be remiss not to mention PayPay Corporation. Jointly formed by SoftBank Corp. and Yahoo Japan in 2018, in collaboration with India's largest digital payment company Paytm PayPay launched its QR and barcode-based mobile payment service "PayPay" later in the same year.