---
# System prepended metadata

title: BED.MONEY / RETROSPECTIVE / MONEY_MOVES

---

# BED.MONEY / RETROSPECTIVE / MONEY_MOVES

```
    The purpose of this document is to explain
    how we conducted the first BED.MONEY
    research project "Money Moves" so that
    other projects can replicate this format
    and create personas as we do.
```

At BED.MONEY our goal is to help designers and developers working in open source payments systems (bitcoin), understand what are the main problems their potential users are encountering.

We should do so by being grounded in real world use cases in parts of the world where payment technology is on the verge of adoption.

Money Moves is the first project which we conducted in order to learn how we can create this repostiory of user research - we focused on fronteir markets because there is often a lack of data in these smaller economies.

## Personas
 
The core output of our reseach is a BED.MONEY Persona. It is unlike other user personas, (e.g. buyer personas) as it is not a fictional caracter. They are based on real people, real interviews, and research.

We do this so other projects can be closer to the participants. 

### Structure of personas 

   - Short description
   - Profile & Work table
   - Store of Value & Payments
      - Behaviours
      - Preferences table
      - Motivations
      - Frustrations
      - Money management
      - Diary studies
          - Starting balances
          - Transactions
   - Privacy, Security & Backups
      - Tech Specs table
      - Behaviours
      - Conveniences 
      - Motivations 
      - Frustrations

### Study Design
We started talking with designers and developers at bitcoin, digital identity, and local payment startups.

#### Paxful
1. Whether people in different regions more likely to use Mobile or Desktop solutions when it comes to Online banking?
2. Those who like Mobile as a platform  prefer using Mobile App or just Mobile version of the website?
3. How problematic is to have accounts in different banks for two people who want to make a payment between each other?
4. How often do they struggle to find all needed bank details needed to make a payment?
5. Do people feel 100% safe when they when they handle money online?
6. How often people need cash?
7. What part of their expenses do people pay cashless?

- Photon-sdk
- Paywise
- Squeez Cash
- Cari
- [ ] ask Johns questions about this part 

We ended up with two research topics “Store of Value & Payments” and “Privacy, Security & Backups” which we combined into a single project.

While researching "Store of Value & Payments" and "Privacy, Security & Backups" we tried to figure out:
   - What are the preferred methods of payment
   - How people send money
   - How people receive money
   - How people store money
   - Daily interactions with money
   - What kind of device they are using
   - How they interact with apps on their phone
   - Are they worried about security 
   - How comfortable are they with technology

Gathering the interests from these different entities and trying to come up with a coheisive interview plan, here's the [questions](https://hackmd.io/32HQylgKTUGEFnypXSv1iA) we settled on which guided the local researchers.

### Surveys
- [ ] what
- [ ] why
- [ ] how

Some of these questions we gathered can be delivered as a survey / screener before hand. Since this was a research discovery project we opted to go straight into interviews.

### User Interviews 

1. We do 1:1 interviews 
2. Interviwer sets the date and time with interviewees
3. Compensation is agreed

#### Why do we do interviews?
We did interviews so we can get a better understanding about the behaviours, patterns, conveniences and what are the main problems users are facing.

Following the structure of the interview and respecting peoples privacy we have been able to collect all the necessary data.

#### How we recruited interviewers?
Because this was a project with an international span -- and a few months into the COVID19 pandemic we had to find an ethical approach to conducting the interviews.

We reached out to our network and found interviewers in Rwanda, Trinidad, Eastern Caribbean, and Indonesia.

Translating and transcribing some interviews that will be done in other languages other than English.
> **NOTE**
> Automated translation tools are mostly just for english speakers.
> 
> When building a system on the global scale of bitcoin, it is important to be inclusive of people in areas where fintech is still emerging.

#### How do we conduct the interview?
Due to COVID-19 all the interviews conducted were remote, over the phone. 

STRUCTURE
1. Contact potential participants
2. Inform them about the research
3. Interview needs the be scheduled so it fits the interviewer and the interviewee, so we avoid any incoveniences
4. Don't ask any personal questions 
5. Recommend to interviewees not to disclose anything that can directly identify them
6. Assure interviewee we will remove anything they wish if they say anything they are not comfortable having recorded
7. Ask for consent to record the call 
8. Approcah the interview as a casual conversation
9. [INTRO](https://hackmd.io/NxwaBdy4Su67jUZM-iBl8Q)
10. [QUESTIONS](https://hackmd.io/32HQylgKTUGEFnypXSv1iA) 
11. Lead the conversation so we get all the necessary information
12. [OUTRO](https://hackmd.io/NxwaBdy4Su67jUZM-iBl8Q) 

### Compensation

#### Why do we compensate?
Compensating the participants for our interviews seemed like a good idea for rewarding them for their spent time[^research_planning]. 

#### How do we compensate? 
Just like the interviews the compensation will not be done in a phisical way. Interviewees will be compensated in a digital way available in their country[^compensation]. 
- Mobile Money
- Phone Credit
- GoPay
- Ovo
- Bank Transfer
- Bitcoin

## Creating a Persona
Once the information has been gathers, we need to make it more accesisble. Below is an outline of how a persona is created in order to visualise this research.

1. Transcribing the recorded interview
2. Listening to the interview
3. Making notes, comments and [tagging the interviews](https://hackmd.io/u1GptC4ORuu4OJa5PovA3w)
4. We try to understand people 
   - Needs
      - Easy access
      - More convenient apps
      - Easily memorable USSD codes 
      - More agents for withdrawing cash from Mobile Money
      - Smaller fees for money transferes 
   - Whys
      - Asking a lot of whys we really get to understand the problems, behaviours, patterns
5. We try to understand behaviours and patterns 
   - Why are things done in a certain way
      - Preferred way / Preferrs cash because it is easier to track spendings, preferrs cashless because there is a convenience of doing everything from inside your own home
      - There is no other option 
      - Pushed by someone else / Government pushing cashless in Rwanda, etc
6. We try to understand problems
   - Frustrations with different money service providers
      - Transaction fees
      - Excluding certain categories
      - Accessible without internet? 
      - Older people and people without smartphones can use apps? 
         - Potential Mobile Money problems: 
            - People in rural areas
            - People who are not computer litarate
            - Older people
            - Sending money abroad
            - Transaction fees
            - No access to money if battery on phone dies

## Diary studies
### What is a diary study?
As additional tool to the interviews we used diary studies in order to get insights. Diary study was used as a research method so we could collect touchpoints about the research we have been doing.
We did two diary studies:
 - Transactions 
 - KYC

### Why did we do diary studies? 
> What people say, what they do and what they think is not always aligned. [DOMESTIKA](https://www.domestika.org/en/courses/1737-ux-research-101/units/6238-planning-and-conducting-user-research)

In our project Store of Value & Payments diary studies served us as a tool for confirmation. We used diary studies in order to see what what interviewees said is matching with what they do in practice. 

For Converting Bitcoin to local currency we used diary studies to see what was the process for registering, creating an account, verifying your account and actually converting Bitcoin to local currency. 
We gathered information from different countries so we can see the various processes in different parts of the world.

### Process for Diary Studies
#### TRANSACTIONS 
- Participant took notes for every transaction they make in a period of 3 weeks.
   1. What they paid for
   2. When did the transaction happened
   3. How much money they spent
   4. What is the payment method they used 
   5. How did they feel
   6. Add attachments if they have them 

#### KYC 
- Participants took notes about their experience for KYC and converting Bitcoin to local cureency with Paxful. 
   1. Downloading an app and creating an account 
   2. Verifying account 
   3. Receiving payments 
   4. Looking for buyers 
   5. Converting to local currency 

### Cleaning the data
- Import data to Airtable 
- Structuring the data

## Expert Interviews

### Why do we do expert interviews?
_for example with Airtel, Paywise, Startup Expert in Grenada, and other money services and startups in Rwanda?_'

## Getting Feedback
### Designer interviews
 BED.MONEY did interviews with designers & developers where we tried to understand if the information we are providing is useful for them. How can we make our personas more applicable to their projects and are we going in the right direction.

Designers, developers, and UX researchers provided us feedback on current Bed Money personas, profiles, and website content.

So far the [feedback](https://hackmd.io/DHyRIS1bQm-E8t4qXPDW6Q) has been really positive, and we have managed to find a few really key insights to help us improve our interviews, personas, and website content and layout.

An example of how we improved the personas from feedback was the additon of "Money Mindsets" to the persona profile table which is a ... from ..., and as the designer who informed us about this said they use it in their work ...

#### [Short Screneer for Designers & Developers](https://hackmd.io/gsMWaWKbSbO9JUwPGnjPJQ)
 
#### [Questionaire for interview with Designers & Developers](https://hackmd.io/tNDzbDLTTgO9VVOPuECN9w)

[^research_planning]: https://docs.google.com/document/d/1cHmZ8iyw8g4lm8X3oQ97nS5YfCnCsgzvSsFV1LDhvuw/edit#^
[^compensation]: https://hackmd.io/B5p9yLhsSbCJM_L8ZFiNOg