Vendor pays the transfer fees

Description

February, 2024

In the Payments team, we often received qualitative signals from our prospects and current clients indicating that sometimes they wanted vendors to cover the transaction fees. This request was mainly made in specific cases when a vendor required a faster and more costly delivery method, and the client was not ready to finance it.

The complexity lay in the fact that all client fees were summed up and paid monthly, so we needed to find a way for the vendor to pay the fee.

We also needed to explain that this required a different mental model than what the client was used to. As a solution, we provided a cost breakdown with a simple and intuitive user interface. The vendor fee was simply deducted from the total receiving amount if selected.

This feature enabled us to acquire new clients and scale up the capabilities of our product.

My Contributions

Together with the product manager, we explored where such a feature should exist. We had user flows for creating bulk payments. However, it was decided that this feature is a specific case and not something common. Another reason for building it only for a single payment user flow was that it mainly helps us sign new clients and retain existing ones who require this feature, thereby preventing churn. It was not a feature that directly drove the revenue.
Work on high-fidelity mockups / prototypes with several design reviews and iterations.
Trifecta (engineering, product & design) presentation of the planned sollution to the company leadership.