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Define
What needs to be created, and why does the product need to exist? (the problem statement)
The ability to turn cash into a digital form - carrying cash has become more and more risky and because of health reasons such as the COVID-19 pandemic .

Enable frictionless management of money, safely and securely - trust is an important factor when dealing and managing peoples money.

The solution must be financially inclusive - due to our country’s past most people still do not have equal access to financial tools and education.
Who are we creating this for?
All South Africans - especially the financially illiterate and marginalised.Business - Businesses in South African both online (e-commerce) and physical (checkers) stores.
High-level business strategy.
Ozow is a leading payment technology company committed to simplifying transactions for businesses and consumers. Our mission is to revolutionize the payment landscape, making it faster, safer, and more accessible.
Spec
To build an app or feature that will be cashless and contactless at the core. It will allow all South Africans with a Mobile phone (MSISDN) to be able to pay,  get paid and buy goods and services in South Africa. Regardless of the type of device (technology) our fellow citizen has. The feature needs to be able to work via USSD, message services, browsers and our native mobile OZOW.Me application.
Research
Market Research - out on the streets (user stories)

What is your preferred method for paying friends or family?
‍ - “cash if I have it on me, or doing an eft on my banking app but its such a mission to get them to send there acc details and also to load them onto my banking app is a pain.” - Tebs (bboy) Mpoh

When shopping how do you usually make payment? - “card, e-wallet or sometimes cash,  I don’t really enjoy having to cary a wallet with me, I would prefer just to use my phone.” - Zee Verah

How do clients usually pay you? - “cash or eft. The latter however takes days to clear so I am often out of pocket.” - Jack Fixit

Market Research - competitive analysis.

Desktop research (google)

Payfast
PayU
Stripe
Netcash
Instant EFT
PayGate
Peach Payments
SnapScan
Yoco
Square
Mobicred
Amazon

Paypal
2Checkout
Zapper
Shopify
Payflex

Pros:
Very easy to get started.
High number of payment methods available.
Cons:
Not the cheapest transaction fee7 payout fee to withdraw money to your bank account.

Pros:
Very easy to get started.
The Yoco transaction fees are affordable.
Customers are familiar with the brand thanks to their large network of credit card machines in South Africa.

Cons:
The only available payment methods are bank cards

Market Research - industry trends

Despite country-specific differences, cash remains the leading payment method in Africa.

Nevertheless, the use of mobile money has been growing significantly in recent years.

In 2021, Sub-Saharan Africa was the leading region by number of mobile money accounts worldwide.
‍
29 Aug 2023

Credit and debit card payments are the most common payment type. Credit card companies, including Visa, Mastercard, American Express, and Discover, extend credit to purchasers; they cover the purchase price, and customers pay their card balance every month.    20 Jul 2022

Key research takeaways.

South Africans are increasingly going cashless through the use of digital wallet platforms.

These platforms are on the rise and the appetite for them is high.

Cash is still very popular but has more cons to using it than pros, cards are also not accessible to everyone.  
The solution will need to be quick, as quick as any e-wallet or similar currently in the market.

Plan & Analyse

Brainstorm - ideation session with stakeholders etc.

Idea Evaluation

Assess the generated ideas based on the following criteria:
The top idea voted by the team based on: desirability, viability, and feasibility is:
HoTPaY
Based on the definition and research HotPaY will be the feature/app that will be explored further.
The next steps will be:

Design

User journey flow - High level user journey map of the process

Prototype - Hi-Fi

Next Steps

The next step in the process would be to circulate the research results and designs, then test and iterate on the prototype.

Once all parties involved are comfortable with what will be built, hand over to development would take place.

Once the product or feature has been Launched more feedback and testing sessions will be had and then Iterate further.

End.

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