Streamlining Onboarding for Oyster Payment Links

Overview

Oyster, a Mexican FinTech company, empowers small and medium-sized businesses with diverse payment solutions. As Product Design Lead, I spearheaded a 3-month project to optimize the onboarding experience for their payment links product.

Role & Duration

Product Design Lead, 3 months.

Problem

The conversion rate for new payment link accounts stood at 12%, significantly below industry benchmarks. Our ambitious goal was to increase this by 20 percentage points by Q1 2021.

Solution

The existing onboarding flow mimicked the experience for creating a debit account, imposing stricter legal requirements that weren't entirely necessary for payment links. To address this, we introduced a tiered account system. This allowed users to access a basic version of the payment links product with minimal information, lowering the barrier to entry.

Challenges

Implementing the tiered account system required significant backend architecture changes. Additionally, we had to redesign the internal KYC agent console to accommodate the new validation processes associated with each account level.

Disclaimer: Due to confidentiality agreements, some details of this project may be omitted or generalized. Please contact me directly for further information.