Paytm CEO and Founder Vijay Shekhar Sharma called for suggestions from users regarding fintech apps while sharing his to-do list before the new year. The Paytm app will have enhanced AI-based customer support.
The CEO shared that the home screen of the Paytm app has been changed. The app has a cleaner look with clear separation of services from Paytm Payments Bank and other group companies.
“I’m making my to-do list for 2024. What would you like to change/upgrade in the Paytm app?” We’ve changed the home screen of the new Paytm app. The services of Paytm Payments Bank and other group companies are now clearly separated. This will give you a clearer view. Expanding AI-driven customer care. AI-powered personalization is the way to do that. Say your wish, it’s our command! Merry Christmas and Happy New Year to all Paymers,” Sharma said in a post on social media platform X.
Reacting to Sharma’s post, Anurag Verma, product director at Makemytrip, shared his suggestion in a social media post X.
Here are the recommendations Verma made:
1. Slightly increase the icon size and reduce the number of different background shades. This gives you a clearer UI feel.
2. Mimic the user’s natural progression when stacking cards. For example, a typical user stacks cards first if his journey starts with payments first, then expands to utilities, and then travel and movie tickets. I understand the need to layer a loan on top of a ticketing card (it could be more strategic), but the loan is a one-time need for the user versus ticketing or other products.
3. Turn sections on/off/stack based on user information. If you know that a user’s credit score is above her 800, that user is likely to be financially savvy and probably wouldn’t take out a personal loan, but would be more interested in insurance products.
4. Considering Paytm’s MAU/DAU, Paytm can significantly increase monetization from ads by offering a Discover feed with video stories/ads that can charge high CPMs.
5. Focus on user-friendly copy. For example, ONDC in the bottom bar will probably be incomprehensible to most of your audience. Perhaps the shop will be a more usable copy.
6. Since PayTM has so many SKUs, investing in a loyalty program is effective in locking in users. It doesn’t have to be a paid program to solve the scale problem, but it needs to be a program that rewards users based on the total booking value of the products they purchase/transact with his PayTM.
7. Set context around PayTM scope and scale on all product landing pages. For example, on the d2H recharge landing page, 5 million customers have done his d2H recharge through us.
8. Recurring payment flows for products such as invoices. For example, when a user makes their first electricity bill payment, we ask them to set up recurring payments for future bills and obtain the necessary permissions if necessary.
9. Strive to facilitate new product/SKU discovery through ephemeral surfaces such as modals/bottom sheets. It can deliver great CTR and discovery.
10. Recently used/operated products card on home page
One user wrote on X: “I just want the option to open the scanner directly. I’m aware of the long press option, but that’s simple.”
“I can’t stay away from the screen. I tried updating the app and the same problem happened. I can’t make payments. It’s been a month already,” said another.
According to global research firm Macquarie, the Mint earlier reported that Paytm’s rebalancing of its loan portfolio was a precautionary measure taken in consultation with its partners.
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