Remitly’s packaging strategy (until January 2022) observed competitors’ prices based on disbursement methods (The method that the customer chooses to send money).

Goal: Increase customer acquisition by matching prices with competitors, especially in lower-cost paths like Bank Deposit or Mobile Wallet.

Objective: Create packages aligning disbursement prices and speed of transfer with customer price sensitivity.

Expectation: Attractive pricing for price-sensitive customers in methods like Mobile Wallet leads to more transactions as well as being up front about the speed of the transfer.

Hypothesis: Competitive pricing and speed transparency for specific disbursement methods attracts customers, fostering loyalty.

Rationale: Fair pricing and up front speed claims encourages repeat transactions, potentially resulting in more money sent home.

Conclusion

To address customer concerns about transaction duration clarity, we introduced selection options for payment and disbursement methods, enhancing the display of transfer speed. By combining payment and disbursement method speeds and leveraging the existing delivery method drawer, we incorporated new payment options. The solution, designed for scalability, features two dropdown selectors for “delivery method” and “payment method,” significantly improving communication of transfer speed to customers. This optimisation resulted in an up lift of 20% in customer acquisition.

• Client Remitly
• Year 2020
• Services Product Design Research