P2P Mobile Payments
In-Person Sales App Development
The Challenge
A leading global online payments company and its online Canadian marketplace partner were interested in developing an app that allowed sellers and buyers to transfer money in exchange for the sale or purchase of products sold on the marketplace platform. The payments company was looking to gain a better understanding of this integration.
The Solution
Preference Analytics conducted a market study among consumers and SMBs who bought and sold online and among customers of the online payments company who had linked their payment account to the online marketplace partner.
The goal:
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Gain a better understanding of both buyers and sellers use of marketplace platforms, payment solutions
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Assess interest in the app
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Gain feedback from current app users
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We also conducted a leading-edge Conjoint analysis and built a powerful simulator to determine the desired feature combination for the app, including:
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Attribute importance
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Feature preference within attributes
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Price sensitivity
Check out an anonymized example of the output from the Conjoint analysis here.
The Results
Based on the results from this study, the mobile payment app is being improved so that consumers can send and receive money even more quickly with the online payments company through the online marketplace’s app at in-person meet-ups.