Leslie Williams | Creative Design | Web, Brand Identity, Training, Consulting

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Simplifying how businesses collect payments

Inside a modern, well-stocked supermarket, a Nigerian woman, wearing a vibrant Ankara dress, stands behind a checkout counter. She's holding a portable POS (Point of Sale) machine, engaging in a transaction. Facing her, a Nigerian male customer, dressed in a casual t-shirt and jeans, is handing her a credit card. The supermarket shelves are filled with various products, and the environment is bustling with activity. The scene should reflect a friendly and professional business interaction, highlighting the diverse range of goods available in the supermarket.

ROLE

Research

Information Architechure

UI/UX Design

Branding

Design System

PLATFORM

Web

Mobile

SDK

BACKGROUND

Monnify has simplified how businesses accept payments in Nigeria

Nigerians used online payment methods more in 2019. Customers might pay from home with a click. Businesses may receive payments via web/mobile applications, cash, and POS transfers with this feature.

Payment was simple and smooth. However, several payment channels presented a new difficulty for firms.

Increasing the availability of cash by opening additional bank branches and automated teller machines was one of the first steps taken to close this gap. But there was still a huge gap between the demand for these banking services and the supply of banks.

WHAT WE WANTED TO SOLVE

Helping businesses collect  and manage money better

Interbank transfers, dominating digital fund transfers with 88 million transactions in March 2019, are less effective for merchant payments due to identification challenges. Retailers increasingly adopt online card payments, with Nigerian transactions rising from N129.24 billion in 2017 to N183.07 billion in 2018. Merchants face transaction fees and cash transport costs, leading some to offer cashback services via POS to mitigate these issues.

DEEPDIVING INTO PROBLEM SOLVING

Demystifying the solution

The primary mission of Monnify was to become the go-to 'tool' for businesses, regardless of their size, to smoothly receive money. Consequently, we understood the significance of delving deeply into our merchants' and businesses' needs. We knew that to create the perfect solution, we had to ask the right questions, some of which included:

What mode of payment did their customers use the most?
How they were keeping track of these payments on a daily basis.
What problems did they encounter with the methods they used at the time?
How do they handle fringe scenarios?

What we were attempting to build was a comprehensive payment platform that encompassed multiple channels for accepting payments. Some of which included virtual accounts, API integrations, invoicing, and various other methods. We also aimed to create a system that effectively aggregated and managed incoming payments

What we discovered

Customers prefer and are comfortable with card payments.

Customers increasingly use banking apps for regular direct transfer payments.

Research reveals business owners' skepticism towards transfer payments.

Businesses use multiple tools and accounts for billing and collections.

LET'S COOK

Cracking the visual Identity

Illustrations

Dashboard &
Transaction History

The dashboard and transaction history were critical, if not the most important, platform features. During testing, we found that consumers became lost in the data, increasing turnover. Considering this, the team and I optimised real-time transaction visibility. Thus, people could explore the dashboard without confusion.

The transaction history showed all transactions across channels and accounts and included an in-depth filter to find specific transactions.

Payment API’s and SDK’s

With our secure payment gateway API, forward-thinking merchants have the ability to personalise the payment journey on their apps and sites. This enables companies to easily manage online funds transfer, card transactions, and payment collection. By utilising our APIs and SDKs, we have eliminated the need for external payment gateways, simplifying the checkout process. Businesses have the option to tailor payment forms to their brand, offering a cohesive customer experience.

Invoicing

We automated the invoicing process for firms struggling with paperwork, enhancing efficiency by simplifying creation, sending, and tracking.

Digital storage centralizes transaction records for easy access and analysis, aiding in financial reporting and tax filing.

Our solution also enables online payments, streamlining transactions for businesses and customers.

The Skyfall Design System

For this particular project, we adopted a modular approach. This approach allowed me to expedite the design process and seamlessly hand over the designs to the engineering team for development. To accomplish this, we identified commonly used assets and designed them as modules and widgets.

As the project advanced, additional modules were designed for future utilization. Through close collaboration with the design and engineering teams, we successfully established the SkyFall UI Library—a design-driven React codebase. This library empowered the engineering team to construct layouts more efficiently, with reduced reliance on design resources.

Vanity metrics

500K+

Businesses

onboarded

succeesfully

$ 33.5M+

Transactions
processed
monthly

99%

Transaction

completion

rate

Key takeaways

We automated the invoicing process for firms struggling with paperwork, significantly reducing manual labor and saving time.

Digital invoices streamline transaction management and analysis, while enabling easy online payments for businesses and customers.

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Leslie Williams