Concept by
Tushar Rathi
Problem Opportunity/Viability
PhonePe’s current coverage across the financial journey of a user
Large & Growing Userbase with divided attention
Send / Grow
Spend Manage • UPI transaction market is expected to grow 10-15x in the next 3-5 years
Receive
• Phone MAU/ transactions = 140M/5.26 B (Q3 2021)
?
P2P, Bank Bills, Utility, Mutual Funds
Transfers, P2M Recharge of varying use • Smartphone users on average have 2.5 finance apps installed
Payments, cases, Gold, • Current share per app driven by convenience and coverage
PhonePe Silver
Switch,
Insurance
Potential Hook
• Spend analytics and personal finance
• Incentive for users to use PhonePe for all P2P & merchant
Lack of spending analytics and personal transactions
What?
budgeting on user transactions
Potential Impact
Multiple Apps/ transaction feeds + no • Increased wallet share per user
Why? • Increased user stickiness for potential upselling of financial services
categorization features
• Future monetization of premium personal finance management features
Top 5 UPI apps Top 5 Personal Finance apps
Personal Finance 85% respondents of a survey of active UPI users between ages 22-30
Management is a 400 Million 31 Million requested a personal finance module in UPI apps and indicated an
increased wallet share for the app as a result
white space in India Downloads Downloads
Source: Google Play Store, Indian Ministry of Commerce and Industry, EY Report on Trends Shaping India’s Fintech Sector 2021
User Persona Solution Overview
Age : 22 - 34
Integrated Personal Finance:
Working professional transacting
INR 20-80K monthly through Tracking, Categorization and Budgeting of spends
digital payments platforms
Budgeting
User visibility of overall spends and personal
Objective
Foundation for users to build their financial wealth
finance management
• Users can either set up a total budget limit or can set up budget
limit by categories
• Difficult to track expenses across different • Users can track their progress
payment platforms
Pain Point
• Lack of integrated payment and budgeting
ecosystem in 3rd party apps Expense Analytics
Foundation for users to setting up their budget
• Personal finance tracking with • Auto-categorization or user generated tags for expenses
Need
categorization and budgeting of spends • Custom periodic spending insights
Budget Tracking Setup Expenses Home Page Total Budget Category Budget
First Time User Experience through
history tab
Expense Tagging
One-touch checkout
Expense Analytics &
Budget Tracker
Pie chart displaying the amount Users can set total budget limit Users can set budget limit to
and their expense category according to choice of periodicity individual expense categories
QR Code Scan Page Transaction Page Transaction Successful Page
Budget Tracking Setup
Expense Tagging
One-touch checkout
Expense Analytics &
Budget Tracker
Scanning QR code for Option to include transaction Online: Automated merchant tagging
transaction as part of budgeted expenses Offline: One touch checkout
Category Page Category Page
Expenses Main Page with Budgeting without Budgeting
Budget Tracking Setup
Expense Tagging
One-touch checkout
Expense Analytics &
Budget Tracker Budget tracking and spend Category expense and budget Expense tracker of category
categorization tracker along with transactions with CTA to Set Budget
Success Metrics Possible Pitfalls
Type Goals Signals Metrics • Government capping market share for UPI apps
Awareness User awareness Successful nudges # visits to expense tab • Users already having some form of expense management system
• Users preferring other app to PhonePe for transactions
# existing/ new users # users setting up
Acquisition User Onboarding
setting up budget budget
Frequency of
% & # transactions
Activation User Intent transactions being
budgeted
being budgeted
Future Scope & Improvements
% users tagging offline # users tagging offline
Engagement User Actions • Gaining adoption through budgeting feature, Savings for Goals
expenses expenses
• Robo Advisory : spending habits and cashflow patterns
Expense page MAU, • Deeper Integrations: Syncing bank accounts, credit cards to get
# users able to follow
Retention User Success Stickiness, Frequency of
their budget instant insights into spending habits and cashflow patterns
check-ins
• Possible monetization impact (considering industry lowest pricing
and conservative user conversion %)
Impact • 1% coverage of MAU * pricing per month (INR 40 per month)
• Direct incentive for users to use PhonePe for all their transactions = ~$10 Mn USD in Annual Recurring Revenue
• More likely the users would spend on PhonePe’s other financial products
View Product Landing Page! Try out the Prototype!
• 86% respondents of the landing page found the proposed solution helpful
for them
Landing Page Efficacy Metrics
• 84% would prefer transacting more through a single UPI app to track their
personal finance better
Concept by
Tushar Rathi
VIT Pune | 2017-21
[email protected] | LinkedIn
