Prism Payments

How might facilitating payments empower customers and complete the full booking process?

• Goals:
  • Facilitate direct payments between Prism clients and their customers so that we could potentially 10x the business revenue
  • Simplify the payment process for users
  • Integrate a secure and reliable payment system into the Prism platform
  • Launch a successful beta program for Prism Pay
• Area of Focus: Platform Research, User Research, User Flows, Prototyping, UI Design, Stakeholder Engagement, Client Engagement

Background

Prism.fm sought to simplify the complex payment process within its platform by introducing Prism Pay.

Currently, Prism clients rely on various third-party tools and methods, including cash, checks, ACH, and wire transfers, leading to inefficiencies and manual effort. This project aimed to integrate a direct payment solution, streamlining transactions between agents, promoters, and their customers.

Prototype

👉 Prism Pay Prototype

The demo showcases the end-to-end payment experience within the Prism platform, highlighting key features such as:

• Securely linking bank accounts
• Creating and sending payment requests
• Tracking payment status and history
• Managing payment notifications and reminders

Requirements & Constraints

Requirements:

• Securely link user bank accounts
• Create and send invoices
• Track payment status
• Integrate with Stripe Connect for payment processing
• Handle various payment types and schedules
• Ensure compliance with financial regulations
• Provide clear and concise user flows
• Implement robust error handling

Constraints & Challenges:

• Stripe's payment fees could potentially be higher than competitors
• Switching payment solutions in the future could impact beta users
• Security concerns around handling financial data
• Complexity in handling various payment scenarios and user roles

The Process & Plan

Research & Discovery:

• Research existing payment flows and best practices, including Stripe and Adyen
• Define user scenarios and journeys, focusing on various user types and interactions
• Conduct user research to understand user needs, pain points, and expectations regarding payments

Design & Prototype:

• Develop user flows for key payment scenarios, such as onboarding, payment tracking, emailing payment links, and notifications
• Create high-fidelity prototypes in Figma, showcasing the user interface and interactions within the Prism platform
• Conduct usability testing to gather feedback and iterate on the designs

Client Engagement & Review:

• Collaborate with developers to understand platform constraints and technical challenges to ensure a smooth implementation process
• Create a demo Stripe Connect account for Prism and guide beta clients through the integration process
• Position the launch of a beta program with a select group of Prism users rolled out by client success and marketing providing support and gathering immediate feedback

Results

Prism Pay is currently tabled: While the designs presented opportunities for improved user experience, efficiency, and security, it also posed challenges such as regulatory compliance, data security, and addressing the complexity of various payment scenarios. Securing a solid vendor and achieving any kind of profitability from the effort was going to take too long despite initial feedback that was positive.

Thanks for reading!

👉 Get in touch @ joshua@jshmllr.com