About
WeSend was born to help the families of Venezuelan migrants send and receive remittances using crypto.
Challenge
Design a solution that allows non-crypto people to use crypto to send remittances, reducing associated costs.
Impact
Design an app for managing crypto assets as easily as a simplified bank account, with offline support for users used to traditional methods.
Team
CEO & founders
Me as designer & FE Dev
1 BE Engineers
1 Blockhain Engineer
1 Marketer
My role
Remittances sent in the first 6 months
Reduction in associated costs compared with traditional methods
Families benefited in the first year
The problem
28M people with banking & payments limitations
Pay money
Predominantly aged 18-45, tech-savvy to moderately tech-aware, with limited access to traditional banking in Colombia.
Hold money
+6 weeks and several paperwork required to get local bank account. Debit/Credit cards not available.
Accept money
500,000 Points-Of- Sale deficit.
3-Months average waiting time to bought a POS terminal.
Receive money
Most remittance- recipients pickup cash in Cúcuta, Colombia (860km from Caracas)
Defining the foundations
Primary users
Venezuelan migrants
Predominantly aged 18-45, tech-savvy to moderately tech-aware, with limited access to traditional banking in Colombia.
Accessible, low-fee, fast options for sending remittances to Venezuela; ability to withdraw funds locally.
End beneficiaries
Relatives in Venezuela
Broad range, with some experience receiving remittances and familiarity with alternative money transfer methods.
Reliable reception of funds in bolivars, easy cash-out options.
Intermediaries
Individuals and small businesses facilitating transfers.
Simple, secure integration and scalability to handle multiple transactions.
Surveying potential users
Designed to capture overall attitudes towards digital wallets and cryptocurrencies.
Would you use a digital wallet if it provided reliable support and security?
Do you find traditional remittance methods too costly?
Are you comfortable using crypto currencies for remittances?
75%
Of users find traditional remittance methods too costly
68%
Feel uncomfortable with cryptocurrency but are open to learning if it reduces fees
82%
Would use a digital wallet if it provided reliable customer support and security assurances
User's says
Most users express frustration with high transaction fees
Up to 20% with traditional methods
Security and trust in the platform are top concerns, especially due to the prevalence of scams.
Users report frequent delays with traditional remittance channels, leading to an interest in blockchain for speed.
Users prefer a guided onboarding process with clear instructions for cryptocurrency use.
The chat-based support model increases trust among users unfamiliar with digital wallets.
Users prefer confirmation screens that summarize fees and transaction details before completing transfers.
After discovery and ideation,
the solution
A new challenge arrives
75%
Users across all groups are interested in a offline solution within WeSend Wallet, showing high potential demand
60%
respondents identified security as their top concern, emphasizing the importance of robust security measures for adoption
82%
Primary users indicated they would use the offline feature frequently if it offers ease of use and low fees
A digital QR-Based card and POS to help more people
How it worked:
The POS system allowed merchants to:
• Register users: The user would provide their ID information, take a photo, photograph their ID document, set up security questions and a PIN, and link a card to manage their account.
• Process withdrawals: Customers could withdraw funds in their chosen currency. The merchant would scan the QR code of the customer’s WeSend card, verify their PIN, and process the transaction in real-time.
• Reload accounts: The POS allowed users to add funds to their wallet using various methods, with the merchant managing the process.
This made the WeSend Wallet POS a powerful tool for individuals without access to digital banking, especially the elderly, who could now receive remittances from family abroad and withdraw funds directly at these physical points. This increased overall wallet usage by 40% compared to the web app alone.
Conclusion
WeSend Wallet successfully transformed the user experience for cross-border remittances using cryptocurrency. By focusing on simplicity, transparency, and trust, the platform has made digital remittances accessible to users who previously found the process complex and intimidating. With a well-designed interface and user-centric features, WeSend Wallet has built a solid foundation for both beginner and experienced users, providing a reliable, secure, and intuitive way to send money across borders.