AirBnB was interested in me running their payment product. To show them my knowledge and skills I put together this deck.

1. Poornima
Vijayashanker
Producer for Payments
9.6.2012
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2. Products shipped
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3. Founding engineer (September 2006 - January 2010)
Employee #2, came up with the name for Mint. Built the prototype focusing on back-end development in Java.
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4. Customer Support.
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5. Want accurate & secure financial data. SOLUTION I BUILT
Users PROBLEMS
Customer
Inaccurate transaction data.
Support Tool
Yodlee Unavailable transaction data.
Need to keep track of issues to
Vendor that provides data from financial institutions. get vendor support and improve. Provide tool to debug financial institutions
transaction data.
Need to make sure issues being
reported are not minor ones. Read-only access for customer support reps to
troubleshoot tickets.
Keeping sensitive financial data
sanitized and secure.
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6. Engagement analytics.
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7. In 2007 engagement analytics solutions didn’t exist.
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8. My solution was to run cron jobs that queried the database for the following criteria:
- Number of new users.
- Active users.
- Inactive users.
- Feature adoption and usage.
- User personas based on financial data.
Fed into life cycle marketing and built additional features to
increase engagement, retention & monetization of users.
Email & Sms Alerts
weekly summary emails
recommendations for financial products
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9. security.
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10. Mint needed to build trust.
Built the Encryption manager which was a separate service responsible for encrypting all access
codes across mint and its data vendors.
Worked with security consultants to expose vulnerabilities, and came up with solutions to address
them.
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11. Scalability.
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12. From 0 to 2M users.
Re-architected prototype into a service-oriented architecture.
Broke apart initial prototype into: core consumer application, messaging infrastructure, analysis
engine, internal tools, apis for mobile applications, and data warehouse.
optimized performance at the application layer & database layer.
front-end architecture.
memcaching.
Moved to a master/slave database architecture.
Optimized mysql queries.
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13. Mint acquired in 2009.
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14. Founder & CEO (January 2010 - Present)
Membership management for small businesses.
Inspiration came from 7 years of practicing yoga, volunteering, and providing tech consulting for yoga studios.
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15. Built 2 products in 2 years.
membership manager tracks lifecycle of members to improve retention & increase sales.
BizeeBee Billing is a virtual terminal that streamlines the process of taking CC payments & getting
paid on time!
Bootstrapped business with 7 full time employees & $300k in outside funding.
Organic distribution channels: SEO, Bloggers & social media channels.
Service 600+ studios in 5 major countries.
Subscription and transaction revenues support BizeeBee.
Built to be a self-sustaining business.
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16. Payments Platform
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17. Understand current problems in the market before building a solution.
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18. market Research
This is a brainstorming phase. Sample questions that will drive thinking about product solution:
General Australia Travel Questions
How many people travel to Australia each year, based on different nationalities? (Reason for doing this is to know what the most popular currencies are.)
What is the reason for travel? (business, vacation, personal)
What is the total amount spent on hospitality in Australia? (Hotels, B&B, etc.) split into luxury vs. budget travel.
What is the process for getting accommodations?
How do people pay for accommodations?
How do people deal with cancellations/refunds?
When is the most popular travel times of the year (given that Australia's summer is during December people might travel more during the holidays), and least popular times?
(This will also affect the exchange rate.)
How many people in Australia own properties (homes, apartments, vacation rentals)?
How often does the owner stay in his own property (i.e. what is the vacancy period)?
How are does the owner manage his property? (Property management companies, services, or self?)
Are people in Australia open to strangers living in their properties?
If so, how do they accept compensation for stays? What is the length of stay?
What portion of the Australian housing economy consists of renters/sublets? (Are there any additional regulations?)
What is the demographic of the renters/subleters?
What is the culture of the various major cities? (Melbourne, Syndey, Brisbane, Perth, Canberra, Darwin)
Online payments in Australia
How comfortable are Australians with taking/making online payments?
Why are the sources of discomfort or unease?
What are the current services they use online (bill pay, PayPal, BillMeLater)? Do they use any mobile apps?
How does a transaction flow through the banking/credit card system in Australia?
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19. Product priorities are driven by the balance of business goals & user experience.
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20. Current Business
I need to get a pulse on AirBnB First.
What is current revenue? (I need to know so that I know what a 20% increase would be.)
Do you want to just grow top line revenues or increase 20% of bottom line?
Do you want to decrease costs?
AirBnB Guest
What are current monthly bookings? (i.e. frequency and popularity of travel to Australia)
What is current monthly revenue growth rate? (Do we have projections specifically for Australia?)
What are the points at which there is a potential sale? (analyze drop off points - start with analytics then have conversations with users to understand their behavior)
Why is the sale not happening? (i.e. where are the drop off points - product fit & expectations, product quality, marketing message confusion)
AirBnB Host
What is the potential number of listings? (Should be based off of market research.)
How many people have listed?
How many listings are complete? (i.e. pricing, availability, cancellations, quality/ratings, etc.)
What percent are incomplete, and which incomplete portion is affecting sales?
How many in-active listings are there?
What are some channels for attracting new listings?
Current Payment Processing
Do we have vendors or is it a solution built purely in house?
What are all the fees we are incurring? (exchange rate, payouts, credit card processing, chargebacks/refunds, cancellations, blended rate - based on card type). I need an
exact figure is because some banks underwrite based on yearly revenue.
Do we do ACH or other types of non-credit card transactions?
Other costs such as customer support for transaction processing?
What are the views of customers (host & guest) regarding current payment processing solution?
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21. User Experience
Who is our user and what is the pain they currently experience during the payment transaction phase?
(AirBnB Host in Australia. AirBnB Guest traveling to Australia.)
What pain are we trying to solve?
What value to the payment transaction process are we trying to add? (e.g. Guaranteed payment & convenience, reduction of fees.)
What is the experience we want to deliver and how do we want to deliver it? (i.e. web, mobile, white-labeled & seamless integration with product)
What are the milestones and deadlines for the milestones? (e.g. could we offer credits before building payments infrastructure)
What is the budget for this project? (debating built vs. buy)
Are there other goals aside from revenue? (e.g. build brand awareness through branded AirBnB gift cards)
Are there existing payment providers in Australia? How do they deal with international currencies?
Existing payment providers in the US that will work with Australian banking system?
What are all the fees associated with a transaction?
Adoption rate of online vs offline payment options?
Is there a change of behavior?
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22. Company Location Notes
Looks like AirBnB already uses them. Might
Braintree USA want to renegotiate based on volume.
Handles in-app purchases. Worth looking into if
PlaySpan USA we want to integrate payments in to the AirBnB
iPhone app. Acquired by VISA in ’11.
GlobalCollect USA Focused on local e-payment methods.
Focused on online payments. Acquired by
Envoy UK/Australia WorldPay in ’11.
Online payment gateway currently used by large
SecurePay Australia e-commerce carts like Magento, Shopify.
Handles online and mobile payments.
Paymate Australia Recommended by eBay in Australia.
Great technology and currently rolling out a
PaySimple USA white label API.
Focused on providing a solution for
marketplaces like AirBnB.
BalancedPayments USA Great technology that streamlines a number of
processes (fraud detection, escrow, payout).
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23. Product Roadmap.
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24. Payment Phases
I. Explore and understand tradeoffs of building vs. buying
II. Buying - interview vendors and align their solution with our business and user experience goals
a. negotiate rates and fees based on volume of transactions
b. figure out who will provide best rates for card not present transactions
c. evaluate costs associated with third party processor vs. payment gateway or direct merchant account
d. most elegant solution given AirBnB’s goal of providing its customers with the best experience
e. best technology solution in terms of quality of integration, maintenance, and put a service level agreement in place that can be reviewed
periodically
III. Building - engineering expertise
a. understand feasibility given current team and resources
b. recruit if there is a budget and need
IV. Feature roadmap with milestones
a. factor in infrastructure that needs to be built
b. AirBnB host facing features
c. AirBnB guest facing features
d. do some usability studies to prioritize features based on user feedback
e. create user stories in Pivotal Tracker to help with deadline estimates and planning sprints
f. begin building and testing features internally
V. Measure adoption rate & collect feedback
a. put analytics in place to track: engagement, revenue, costs incurred
b. keep track of support tickets
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25. Appendix
Process for Picking Payment Processor http://bizeebee.com/2012/04/bizeebees-process-picking-payments-processor/
Personal Blog http://femgineer.com
LinkedIn Profile http://www.linkedin.com/in/poornima
Quora http://www.quora.com/Poornima-Vijayashanker
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