Introduction
Improving security features for Interac's Debit contactless payments is a critical task that directly impacts user trust and adoption. I'll approach this challenge by analyzing user segments, identifying pain points, generating innovative solutions, and proposing a strategic implementation plan. Let's dive in.
Step 1
Clarifying Questions (5 mins)
Why it matters: Determines the baseline for improvements and helps identify gaps. Expected answer: PIN for transactions over $100, encryption for data transmission. Impact on approach: Would focus on enhancing existing features or introducing new ones.
Why it matters: Helps gauge the urgency and potential impact of security improvements. Expected answer: 70% adoption, with a 20% increase in the last year. Impact on approach: High adoption would prioritize seamless integration of new security features.
Why it matters: Identifies areas where Interac can differentiate or catch up. Expected answer: On par with most, but lacking in biometric authentication. Impact on approach: Would focus on innovative security measures to gain a competitive edge.
Why it matters: Ensures proposed solutions align with company objectives. Expected answer: Increase transaction volume, reduce fraud rates, improve user trust. Impact on approach: Would prioritize solutions that directly impact these metrics.
Tip
At this point, you can ask interviewer to take a 1-minute break to organize your thoughts before diving into the next step.
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