mobile and web
Points for Revolut Business
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About the project
Points is a new product for Revolut. Customers can earn points by doing specific actions such as referring other businesses to Revolut. Then they can spend those points on special offers from our partners such as Xero or Zipcar.
Problem
My product owner identified a business opportunity by analysing data and conducting a survey with our customers. Revolut earns money on each transaction made with our card, but it turned out that 50% of our customers’ card spend does not go through Revolut Business. People prefer to use their personal cards for business needs and claim expenses. In the survey, 17% state reason is inadequate Reward / cashback program (2nd after “card not accepted”)
“I would be glad to use Revolut for my Amazon advertising spend (roughly £150k/year) if there were any decent cashback programme”
“A cash back program for spending on advertising platforms such as Facebook or Google would be amazing”
Market research also demonstrated that Revolut foes not have standout competitors in business banking space in the UK. However, this type of product is already a commonplace in the US: Ramp offers 1% cashback, Brex 2-7% cashback, and Amex 1-2% cashback.
Subsequently, the goal of the project is to:
Increase card spending from existing customers
Increase upgrades from existing customers
Attract new customers
Research
✍️ Analyse competitors such as Brex, Amex, and Ramp. The biggest question was figuring out who would earn and spend points. Only admins (business level)? Employees? And who will approve those operations?
✍️ Interview customers who use using Amex and other corporate cards as employees.
Iterations and challenges
🤔 The biggest challenge was to balance users and business needs. Initially we were thinking of having cashback for each transaction like our competitors do. But my PO and legal team identified potential risk: we needed some limit on spend. In the end, the business team agreed on having so-called challenges — tasks for users to complete, such as spend £10,000 per month.
Completing of a challenge is rewarded with a fixed number of points. We brainstormed a list of challenges with my PO and he confirmed them with the top management. The challenges include referring another business, inviting team members, upgrading to a higher plan or spending a fixed amount of money with cards.
List for pilot project. The list to be expanded
🤔 Next we tried to figure out who can spend points and what they will get for them. Revolut Retail team was working on offering people vouchers for discounts and other offers from brands such as Uber, Spotify and the likes.
It would mean for us less time for development because we would reuse something built by other team, but both me and my PO insisted on checking if business would actually have a need to spend on personal needs such as travel. I made a flow that would cover this case (see below).
We managed to push back this idea with my PO. I did user interviews to figure out motivation of business and regular users of cards from Amex and the likes, while my PO analysed the business case and developers provided an evaluation of building spend flow in the business app.
Result
After research and conversations with stakeholders, my product owner and I settled on enabling points only for the customers managing business accounts, not for employees. They would earn points and spend them on business needs such as Apple MacBooks. Later this product would scale to employees — they would be able to spend them on personal needs with Revolut for retail customers. The product is built and due to be released soon.
Mobile and web versions
When I was designing this product, we worked on scaling our mobile design system to the Web. I contributed to the unified design system by suggesting new components and patterns. For example, a side panel behaviour for selected tiles on the Web (check the prototype).
