Designing the
pay-later checkout
experience for Xiaomi
Building a in-store financial solution for
Xiaomi customers to split their purchase
into affordable instalments.
July - Dec 2023
Project Contributors
Paridhi Gupta
Product Lead
Narasimman Rajendran
Design Lead
Shivansh Bhatt
Product Manager
Me
Product Designer
My role
Designing the various points of the on-boarding journey including product catalogue,
up-selling module, multi- language integration, IMEI verification.
Setting the premise...
Each year, more than 150 million Indians purchase new smartphones.
But most smartphones in India are priced
below ₹17,000 due to affordability issues.
How can Xiaomi and Axio ease the user’s financial load without making them compromise on quality of purchase?
Setting the premise...
Each year, more than 150 million Indians purchase new smartphones.
But most smartphones in India are priced
below ₹17,000 due to affordability issues.
How can Xiaomi and Axio ease the user’s financial load without making them compromise on quality of purchase?
About Xiaomi Easy Finance (XEF)
About Xiaomi Easy Finance (XEF)
Xiaomi analysed the data on their users to assess their financial needs and ventured into this program with Axio as part of their store checkout.
Xiaomi analysed the data on their users to assess their financial needs and ventured into this program with Axio as part of their store checkout.
Axio- a tech-first financial solution plugs into XEF and enables onboarding, tracking and re-payment of EMI.
Axio- a tech-first financial solution plugs into XEF and enables onboarding, tracking and re-payment of EMI.
Retailer- XEF is an in-store program driven by the retailers selling the device to the user. Providing intuitive interfaces is key for the success of the product.
Retailer- XEF is an in-store program driven by the retailers selling the device to the user. Providing intuitive interfaces is key for the success of the product.
How would a customer checkout using XEF?
Onboarding
Product selection
Personal info
(address + employment)
PAN, Bank statement, KYC verification
Onboarding process
Product catalogue
VAS + Add-on + EMI selection
IMEI verification
Repayment setup
Phone activation
Activation code sent
(unbox new device)
Phone setup
Language
Trustonic setup
modules we will cover
The
Challenges
Possibility of mis-selling/ identity fraud and singular dependence on retailer to offer and market the product
User loses out on the delight of “the unboxing experience” when the phone is opened in-store.
User needs to make quick/ unplanned financial choices. How can we ease this decision making process?
How might we make the screens scannable and
user-friendly for retailers who may have language restrictions
How do we ensure repayment?
Phone locking mechanism 🔒
In the case the user fails to repay on time, Axio can lock the phone with the Trustonic software installed in the device during onboarding.
Only chosen phone applications will be active to support repayment and emergencies.
Activate device
Device Activated
3
DAYS
EMI upcoming
Restricted
Locked
Step 1: Select a phone
Step 2: Select storage and colour
Step 3: Review and proceed
The product selection is a simplified catalogue, minimising browsing and categorization as the user will make their choice offline.
The Product Selection
Experience
01:
Onboarding
Product selection
Personal info (address + employment)
PAN, Bank statement, KYC verification
Phone activation
Activation code sent (unbox new device)
Phone setup
Language
Trustonic setup
Onboarding process
Product catalogue
VAS + Add-on + EMI selection
IMEI verification
Repayment setup
How would a customer checkout using XEF?
modules we will cover
Happy flow:
View details of selected phone > Continue
Approved devices:
Browse list of eligible devices > Compare
downpayment > Select > Variant selection
Banking flow:
Interested in a device > Check> Banking steps
Fixed
user does
banking
user is eligible
The Product Catalogue
02:
Why is banking needed for select phones?
User may be approved for a certain loan amount, if the device price is higher than this limit, additional bank statements are required to verify repayment.
Upselling is where a seller invites a 'good' customer to purchase upgrades, or other add-ons to generate more revenue.
Upselling on
Xiaomi Easy Finance
03:
Step 1: Select a protection plan for your phone
Step 2: Select an add-on
Step 3: Select an EMI plan
Step 4: Review and accept offer
Based on the user's credit eligibility, they are given options for add-on's and protection plans.
*optional
*optional
*not optional
This module is a linear step-wise function as each step is
dependent on the selection of the previous step. Based on the
balance from the user's total limit, they will be presented options.
Fixed
Outcome & future bets
Primary metrics
1.5-1.7M monthly transacting users.
Conversion rate of upto 70%
Key steps like the product catalogue and
offer screen
XEF program was a staggered release, starting from Mumbai, eventually expanding to all Mi and partnered stores across the country.
Challenges & Scope for improvement
Improve accuracy of date of birth entry
It has been observed that a lot of rejections occur due to incorrect DOB.
Improve success rate of IMEI scanning
Current model for reading the barcodes doesn't always return it in the same order as mentioned on the box.
Secondary metrics
Onboarding journey conversion rate of 15% from initiation.
Reduced loss rates
Project Contributors
Paridhi Gupta
Product Lead
Narasimman R
Design Lead
Shivansh Bhatt
Product Manager
Me
Product Designer
My role
Designing the various points of the on-boarding journey including product catalogue, up-selling module, multi- language integration, IMEI verification.
01:
The Product Selection
Experience
Step 1: Select a phone
Step 2: Select storage and colour
Step 3: Review and proceed
The product selection is a simplified catalogue, minimising browsing and categorization as the user will make their choice offline.
How do we ensure repayment?
Phone locking mechanism 🔒
In the case the user fails to repay on time, Axio can lock the phone with the Trustonic software installed in the device during onboarding.
Only chosen phone applications will be active to support repayment and emergencies.
Activate device
Device Activated
Locked
3
DAYS
EMI upcoming
Restricted
Fixed
user does
banking
user is eligible
02:
The Product Catalogue
Happy flow:
View details of selected phone > Continue
Approved devices:
Browse list of eligible devices > Compare downpayment > Select > Variant selection
Banking flow:
Interested in a device > Check> Banking steps
Why is banking needed for select phones?
User may be approved for a certain loan amount, if the device price is higher than this limit, additional bank statements are required to verify repayment.
The
Challenges
Possibility of mis-selling/ identity fraud and singular dependence on retailer to offer and market the product
User loses out on the delight of “the unboxing experience” when the phone is opened in-store.
User needs to make quick/ unplanned financial choices. How can we ease this decision making process?
How might we make the screens scannable and user-friendly for retailers who may have language restrictions
Outcome & future bets
Primary metrics
1.5-1.7M monthly transacting users.
Conversion rate of upto 70%
Key steps like the product catalogue and offer screen
Secondary metrics
Onboarding journey conversion rate of 15% from initiation.
Reduced loss rates
XEF program was a staggered release, starting from Mumbai, eventually expanding to all Mi and partnered stores across the country.
Challenges & Scope for improvement
Improve accuracy of date of birth entry
It has been observed that a lot of rejections occur due to incorrect DOB.
Improve success rate of IMEI scanning
Current model for reading the barcodes doesn't always return it in the same order as mentioned on the box.
03:
Upselling on
Xiaomi Easy Finance
Upselling is where a seller invites a 'good' customer to purchase upgrades, or other add-ons to generate more revenue.
Based on the user's credit eligibility, they are given options for add-on's and protection plans.
Step 1: Select a protection plan for your phone
Step 2: Select an add-on
Step 3: Select an EMI plan
Step 4: Review and accept offer
*not optional
This module is a linear step-wise function as each step is
dependent on the selection of the previous step. Based on the balance from the user's total limit, they will be presented options.