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RESEARCH
AUDIT
INTERACTION
DOCUMENTATION
DESIGN RATIONALE
EFFECTIVE COMMUNICATION
LISTENING
NO-CODE
VISUAL DESIGN
CONCEPT DEVELOPMENT
INTERVIEWS & SURVEY
USABILITY
CRITICAL THINKING
HI-FI PROTOTYPING
Contact me for an interesting idea, collaboration, talks or coffee...
Say Hello
RESEARCH
AUDIT
INTERACTION
DOCUMENTATION
DESIGN RATIONALE
EFFECTIVE COMMUNICATION
LISTENING
NO-CODE
VISUAL DESIGN
CONCEPT DEVELOPMENT
INTERVIEWS & SURVEY
USABILITY
CRITICAL THINKING
HI-FI PROTOTYPING
Contact me for an interesting idea, collaboration, talks or coffee...
Say Hello
RESEARCH
AUDIT
INTERACTION
DOCUMENTATION
DESIGN RATIONALE
EFFECTIVE COMMUNICATION
LISTENING
NO-CODE
VISUAL DESIGN
CONCEPT DEVELOPMENT
INTERVIEWS & SURVEY
USABILITY
CRITICAL THINKING
HI-FI PROTOTYPING
Mobile
In-development
Web3
Joel Asemota
Pactum
2022
Pactum
Pactum
A Peer2Peer experience for users and vendors to exchange digital assets and store value with secured escrow service
A Peer2Peer experience for users and vendors to exchange digital assets and store value with secured escrow service
01 of 09
Overview
Project Summary
Pactum is an escrow service designed to facilitate seamless peer-to-peer (P2P) transactions, placing secure, transparent exchanges at the heart of its business model. Beyond its core escrow functionality, the platform supports a range of financial transactions, including buying, selling, and swapping cryptocurrencies. Pactum ensures the safety of both parties in every transaction by holding funds in escrow until all agreed-upon conditions are met, thereby minimizing risk and fostering trust. Its versatile features provide users with flexibility while maintaining the security and accountability essential for digital transactions.
Pactum is an escrow service designed to facilitate seamless peer-to-peer (P2P) transactions, placing secure, transparent exchanges at the heart of its business model. Beyond its core escrow functionality, the platform supports a range of financial transactions, including buying, selling, and swapping cryptocurrencies. Pactum ensures the safety of both parties in every transaction by holding funds in escrow until all agreed-upon conditions are met, thereby minimizing risk and fostering trust. Its versatile features provide users with flexibility while maintaining the security and accountability essential for digital transactions.
Business Goals
Become the most trusted and reliable escrow platform for peer-to-peer (P2P) transactions by offering secure, transparent services, with the aim of dominating the Nigerian market and capturing market share currently held by foreign-owned P2P companies.
Become the most trusted and reliable escrow platform for peer-to-peer (P2P) transactions by offering secure, transparent services, with the aim of dominating the Nigerian market and capturing market share currently held by foreign-owned P2P companies.
Create a user-friendly system that allows both individual users and vendor administrators to manage transactions seamlessly. Vendor admins will have the ability to invite sub-users, delegate roles, and set transaction permissions, enhancing operational control and security.
Create a user-friendly system that allows both individual users and vendor administrators to manage transactions seamlessly. Vendor admins will have the ability to invite sub-users, delegate roles, and set transaction permissions, enhancing operational control and security.
Enable users to effortlessly buy, sell, and swap cryptocurrencies within a secure environment, positioning Pactum as a go-to platform for both traditional and digital asset transactions.
Enable users to effortlessly buy, sell, and swap cryptocurrencies within a secure environment, positioning Pactum as a go-to platform for both traditional and digital asset transactions.
My Role
Product designer: Research, Web design, Interaction design.
Industry
Web3
Tools
01 of 09
Overview
Project Summary
Pactum is an escrow service designed to facilitate seamless peer-to-peer (P2P) transactions, placing secure, transparent exchanges at the heart of its business model. Beyond its core escrow functionality, the platform supports a range of financial transactions, including buying, selling, and swapping cryptocurrencies. Pactum ensures the safety of both parties in every transaction by holding funds in escrow until all agreed-upon conditions are met, thereby minimizing risk and fostering trust. Its versatile features provide users with flexibility while maintaining the security and accountability essential for digital transactions.
Business Goals
Become the most trusted and reliable escrow platform for peer-to-peer (P2P) transactions by offering secure, transparent services, with the aim of dominating the Nigerian market and capturing market share currently held by foreign-owned P2P companies.
Create a user-friendly system that allows both individual users and vendor administrators to manage transactions seamlessly. Vendor admins will have the ability to invite sub-users, delegate roles, and set transaction permissions, enhancing operational control and security.
Enable users to effortlessly buy, sell, and swap cryptocurrencies within a secure environment, positioning Pactum as a go-to platform for both traditional and digital asset transactions.
My Role
Product designer: Research, Web design, Interaction design.
Industry
Web3
Tools
02 of 09
Background
Story
In 2022, the Nigerian Government banned the use of debit cards to purchase digital assets, leading to a surge in demand for peer-to-peer (P2P) transactions to acquire these assets. The market lacked reliable, Nigerian-owned solutions that truly understood the specific challenges and pain points faced by users. This gap in the market sparked the creation of Pactum—a solution with a unique approach, designed to cater not only to individual users but also to larger entities such as vendors and trading companies.
I collaborated closely with the Product Owner to refine ideas at every stage, ensuring that the concept was both feasible and aligned with market demands. Our focus was to craft a seamless user flow and experience that would appeal to both everyday users and larger players in the industry. This collaborative process allowed us to create a P2P platform that was not only secure and efficient but also scalable, offering additional services like escrow for crypto transactions, buy/sell features, and swap functionalities, addressing the evolving needs of the market.
In 2022, the Nigerian Government banned the use of debit cards to purchase digital assets, leading to a surge in demand for peer-to-peer (P2P) transactions to acquire these assets. The market lacked reliable, Nigerian-owned solutions that truly understood the specific challenges and pain points faced by users. This gap in the market sparked the creation of Pactum—a solution with a unique approach, designed to cater not only to individual users but also to larger entities such as vendors and trading companies.
I collaborated closely with the Product Owner to refine ideas at every stage, ensuring that the concept was both feasible and aligned with market demands. Our focus was to craft a seamless user flow and experience that would appeal to both everyday users and larger players in the industry. This collaborative process allowed us to create a P2P platform that was not only secure and efficient but also scalable, offering additional services like escrow for crypto transactions, buy/sell features, and swap functionalities, addressing the evolving needs of the market.
03 of 09
Problem Statements
Some of the problems highlighted were:
Through calls and virtual meetings, we identified several problem hypotheses. I interviewed 5 regular vendors and 5 crypto enthusiasts to assess the severity of these pain points and gather insights into how they might impact user adoption in the crypto space. From these discussions, we refined our focus to address key issues, shaping the MVP for Pactum.
Through calls and virtual meetings, we identified several problem hypotheses. I interviewed 5 regular vendors and 5 crypto enthusiasts to assess the severity of these pain points and gather insights into how they might impact user adoption in the crypto space. From these discussions, we refined our focus to address key issues, shaping the MVP for Pactum.
Difficulty with the KYC process on foreign-owned apps, which often do not cater well to local needs or regulatory requirements.
Difficulty with the KYC process on foreign-owned apps, which often do not cater well to local needs or regulatory requirements.
High-volume traders struggling to manage and keep up with large transaction volumes efficiently.
High-volume traders struggling to manage and keep up with large transaction volumes efficiently.
Insufficient local support and understanding from foreign platforms, leading to a disconnect with user needs and preferences.
Insufficient local support and understanding from foreign platforms, leading to a disconnect with user needs and preferences.
A shortage of reliable, secure P2P solutions that address the specific challenges faced by Nigerian users and vendors.
A shortage of reliable, secure P2P solutions that address the specific challenges faced by Nigerian users and vendors.
04 of 09
Approach
Solution
These problem statements guided the questions we asked during a series of interview sessions with subject matter experts who were most familiar with the vendor processes in the organization. We also interviewed about three of their vendors and a member from each business unit. This approach aimed to address the identified problems and explore potential areas of innovation to create a more efficient process. By understanding their pain points through these questions, additional research, and subsequent meetings, we devised optimal solutions.
These problem statements guided the questions we asked during a series of interview sessions with subject matter experts who were most familiar with the vendor processes in the organization. We also interviewed about three of their vendors and a member from each business unit. This approach aimed to address the identified problems and explore potential areas of innovation to create a more efficient process. By understanding their pain points through these questions, additional research, and subsequent meetings, we devised optimal solutions.
Core Modules
Core Modules
Generally, individual users can perform transactions, manage their portfolios, and access market data. Vendors, in addition to these features, have the capability to manage sub-users and oversee their activities, providing an extra layer of control and flexibility.
Generally, individual users can perform transactions, manage their portfolios, and access market data. Vendors, in addition to these features, have the capability to manage sub-users and oversee their activities, providing an extra layer of control and flexibility.
Sign up, Onboarding and Sign in
Users can register as individuals or vendors, with required KYC information for compliance. This ensures security and smooth onboarding for all transactions.
Users can register as individuals or vendors, with required KYC information for compliance. This ensures security and smooth onboarding for all transactions.
Markets
Displays real-time asset trends, including prices, trading volumes, and key asset information, helping users make informed trading decisions.
Displays real-time asset trends, including prices, trading volumes, and key asset information, helping users make informed trading decisions.
Listings
Allows users to create buy/sell orders for digital assets, which appear on the marketplace for others to transact.
Allows users to create buy/sell orders for digital assets, which appear on the marketplace for others to transact.
P2P Orders
The P2P marketplace enables secure buying and selling, with real-time chat and options to mark orders as "Paid" or "Received" for transaction completion.
The P2P marketplace enables secure buying and selling, with real-time chat and options to mark orders as "Paid" or "Received" for transaction completion.
Wallets
Serves as a digital wallet where users store assets, view balances, and manage transactions. Users can buy, sell, swap, send, or receive assets easily.
Serves as a digital wallet where users store assets, view balances, and manage transactions. Users can buy, sell, swap, send, or receive assets easily.
Account/Profile Settings
Allows users to verify identity for higher limits, link bank accounts, manage security, and view transaction history. Vendors can manage sub-users and permissions.
Allows users to verify identity for higher limits, link bank accounts, manage security, and view transaction history. Vendors can manage sub-users and permissions.
05 of 09
Process
My Process: From Discovery to Delivery
My Process: From Discovery to Delivery
After alignment calls confirmed our direction, I conducted secondary research to uncover new trends and potential challenges, even though I was already familiar with the industry. Using screener questions, I recruited 10 participants for interviews, focusing on gathering insights for the MVP. As the project progressed, additional research was necessary to refine our approach.
After alignment calls confirmed our direction, I conducted secondary research to uncover new trends and potential challenges, even though I was already familiar with the industry. Using screener questions, I recruited 10 participants for interviews, focusing on gathering insights for the MVP. As the project progressed, additional research was necessary to refine our approach.
5-weeks laser-focused delivery
06 of 09
User Research
Some Interview Questions
Some Interview Questions
🧐 Question 1
What has been your biggest challenge with using current P2P platforms for cryptocurrency transactions?
What has been your biggest challenge with using current P2P platforms for cryptocurrency transactions?
💡 Key Insights
Identifying specific pain points such as easy onboarding and KYC registration, relatable customer support, limited security measures, which could shape Pactum’s focus on seamless and secure transactions.
Identifying specific pain points such as easy onboarding and KYC registration, relatable customer support, limited security measures, which could shape Pactum’s focus on seamless and secure transactions.
🧐 Question 2
If you were buying or selling cryptocurrency with someone you don’t know, what would make you feel safe during the transaction?
If you were buying or selling cryptocurrency with someone you don’t know, what would make you feel safe during the transaction?
💡 Key Insights
For beginners unfamiliar with crypto, the primary concern is safety. This insight underscores the need for Pactum to clearly communicate how its escrow service protects both parties by securely holding funds until transaction terms are met.
For beginners unfamiliar with crypto, the primary concern is safety. This insight underscores the need for Pactum to clearly communicate how its escrow service protects both parties by securely holding funds until transaction terms are met.
🧐 Question 3
Can you describe a recent experience where you faced difficulty managing multiple crypto transactions?
Can you describe a recent experience where you faced difficulty managing multiple crypto transactions?
💡 Key Insights
Learning about the struggles of high-volume traders and how features like automated tracking, portfolio management, sub- accounts and opening and closing time could enhance their experience.
Learning about the struggles of high-volume traders and how features like automated tracking, portfolio management, sub- accounts and opening and closing time could enhance their experience.
🧐 Question 4
What factors would increase your confidence in using a Nigerian-owned P2P platform over a foreign one?
What factors would increase your confidence in using a Nigerian-owned P2P platform over a foreign one?
💡 Key Insights
Discovering trust barriers users may have with local platforms and addressing them by emphasizing security, regulatory compliance, and customer support in the Pactum design.
Discovering trust barriers users may have with local platforms and addressing them by emphasizing security, regulatory compliance, and customer support in the Pactum design.
🧐 Question 5
How do you typically manage your crypto wallets, and what issues do you encounter?
How do you typically manage your crypto wallets, and what issues do you encounter?
💡 Key Insights
Finding out about users’ struggles with wallet management and how to make Pactum’s portfolio module more intuitive by offering clear balance views, easy transfers, and asset tracking.
Finding out about users’ struggles with wallet management and how to make Pactum’s portfolio module more intuitive by offering clear balance views, easy transfers, and asset tracking.
🧐 Question 6
What verification or KYC processes have you found cumbersome or frustrating in existing platforms?
What verification or KYC processes have you found cumbersome or frustrating in existing platforms?
💡 Key Insights
Identifying pain points in KYC processes and making Pactum’s onboarding smoother, potentially adding localized verification options that users can easily navigate.
Identifying pain points in KYC processes and making Pactum’s onboarding smoother, potentially adding localized verification options that users can easily navigate.
07 of 09
User Persona
User persona
User persona
08 of 09
UI Solutions
Final designs
Home
This flow provides an overview of the user's balance, showcases trending assets with real-time price changes, displays market activity, and lists recent transactions, allowing quick access to key financial information and actions.
This flow provides an overview of the user's balance, showcases trending assets with real-time price changes, displays market activity, and lists recent transactions, allowing quick access to key financial information and actions.
P2P Order
This flow displays active buy and sell orders, integrates escrow services for secure transactions, and includes chat functionality for communication between buyers and sellers, along with detailed buyer/seller information and transaction specifics for transparency.
Buy Order
Sell Order
Listings
The Listings flow allows users to create new buy or sell listings with customizable parameters, manage existing listings by pausing or resuming them, and view completed listings for tracking past transactions and performance insights.
Portfolio
This section displays users' balances and held assets, providing the ability to perform actions such as buying, selling, swapping, sending, or receiving on any selected asset for seamless management of their cryptocurrency holdings.
Sign-up and Onboarding
Here we see a streamlined setup experience for users, guiding them through essential steps to quickly create their account, complete KYC verification, and familiarize themselves with the platform's features for an efficient start.
Some more screens
09 of 09
Conclusion
Key Takeaways
Key Takeaways
The key takeaway from this case study is the importance of prioritizing user experience while building a platform that addresses the evolving needs and expectations of both vendors and customers in the Nigerian crypto market. Pactum is being developed as a secure and user-friendly solution for peer-to-peer transactions, incorporating essential tools like escrow services, comprehensive onboarding, and intuitive management of listings and portfolios. This design fosters trust and simplifies the user experience for both beginners and experienced traders.
While Pactum is still in development, initial tests using the Figma prototype have shown that it aligns with our vision and effectively addresses user needs. Our journey emphasizes the value of continuous innovation, collaboration, and customer-centricity in driving product development and growth. By actively listening to feedback, iterating on features, and staying ahead of market trends, we can enhance the value we deliver to users and solidify our position as a leader in the marketplace industry.
In essence, Pactum is not just a platform for transactions; it's a catalyst for innovation, empowerment, and growth, enabling businesses to thrive and consumers to discover, connect, and engage in crypto trading with confidence. As we look to the future, we remain committed to pushing the boundaries of what's possible and unlocking new opportunities for success in the digital marketplace landscape.
The key takeaway from this case study is the importance of prioritizing user experience while building a platform that addresses the evolving needs and expectations of both vendors and customers in the Nigerian crypto market. Pactum is being developed as a secure and user-friendly solution for peer-to-peer transactions, incorporating essential tools like escrow services, comprehensive onboarding, and intuitive management of listings and portfolios. This design fosters trust and simplifies the user experience for both beginners and experienced traders.
While Pactum is still in development, initial tests using the Figma prototype have shown that it aligns with our vision and effectively addresses user needs. Our journey emphasizes the value of continuous innovation, collaboration, and customer-centricity in driving product development and growth. By actively listening to feedback, iterating on features, and staying ahead of market trends, we can enhance the value we deliver to users and solidify our position as a leader in the marketplace industry.
In essence, Pactum is not just a platform for transactions; it's a catalyst for innovation, empowerment, and growth, enabling businesses to thrive and consumers to discover, connect, and engage in crypto trading with confidence. As we look to the future, we remain committed to pushing the boundaries of what's possible and unlocking new opportunities for success in the digital marketplace landscape.
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