how would you measure the success of paga's mobile money transfer feature?

Introduction

Measuring the success of Paga's mobile money transfer feature requires a comprehensive approach that considers multiple stakeholders and metrics. To effectively evaluate this product, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context (5 minutes)

Paga's mobile money transfer feature allows users to send and receive money using their mobile devices. This service is crucial in Nigeria's financial ecosystem, where a significant portion of the population remains unbanked or underbanked.

Key stakeholders include:

1. Users (senders and recipients)
2. Paga (the company)
3. Agents (facilitating cash-in and cash-out)
4. Regulatory bodies
5. Partner banks and businesses

User flow:

1. Sender logs into Paga app
2. Selects "Send Money" option
3. Enters recipient's phone number or selects from contacts
4. Specifies amount and confirms transaction
5. Recipient receives notification and can withdraw or use funds

This feature aligns with Paga's broader strategy of financial inclusion and digitization of payments in Nigeria. It competes with other mobile money services like OPay and Palmpay, as well as traditional bank transfers.

The product is in the growth stage, having established a solid user base but still expanding its reach and functionality.

Software-specific context:

• Platform: Mobile app (iOS and Android)
• Integration points: Banking systems, telecom networks
• Deployment model: Cloud-based with regular updates