How can Paysafe enhance its Skrill digital wallet to improve user onboarding and retention?

Introduction

To enhance Skrill's digital wallet and improve user onboarding and retention, we need to analyze the current user experience, identify pain points, and develop targeted solutions. I'll approach this by examining user segments, analyzing their journey, and proposing data-driven improvements.

Step 1

Clarifying Questions (5 mins)

• Looking at Skrill's position in the digital wallet market, I'm curious about its primary use cases. Could you share the top 2-3 ways users typically interact with Skrill?

Why it matters: Determines which features to prioritize for improvement Expected answer: Online payments, money transfers, and cryptocurrency transactions Impact on approach: Would focus on streamlining these core functionalities

• Considering the competitive landscape, I'm wondering about Skrill's unique value proposition. What sets Skrill apart from other digital wallets like PayPal or Venmo?

Why it matters: Helps identify areas to emphasize during onboarding and retention efforts Expected answer: Lower fees, broader international reach, or cryptocurrency support Impact on approach: Would highlight these differentiators in user communications and product design

• Given the focus on onboarding and retention, I'm interested in understanding the current user lifecycle. What are the key drop-off points in the user journey, from sign-up to becoming a regular user?

Why it matters: Pinpoints specific areas in need of improvement Expected answer: High drop-off during identity verification or first transaction Impact on approach: Would prioritize solutions for these critical stages

• Thinking about Skrill's growth strategy, I'm curious about the target markets. Are we focusing on specific geographic regions or user demographics for expansion?

Why it matters: Influences localization and feature prioritization decisions Expected answer: Targeting emerging markets in Southeast Asia and Latin America Impact on approach: Would tailor solutions to address region-specific challenges and preferences