THE BUSINESS ASK
Enhanced protection against fraud through a daily transaction limit
Previously, Axis Bank Credit Cards allowed users to set per-transaction limits across spend categories; a useful safeguard against accidental errors, like a cashier entering an extra zero in the POS machine. However, this approach offered limited protection against fraud, as multiple transactions could still be made at the maximum per-transaction limit. To strengthen security, we introduced a daily transaction limit, giving users tighter control and enhanced protection.
BALANCING REGULATORY GUIDELINES, FEASIBILITY & EXPERIENCE
Interrelation of Per-Transaction and Daily Limits
Logically, the daily limit cannot be lower than the per-transaction limit. So the per-transaction limit that the user sets, should automatically become the minimum daily limit. This value would thus be dynamic based on the per-transaction limit set.
Learning Curve for Users
This feature is a user's main source of agency over the security of their card. So it was imperative for me to ensure the learnability of the new capability would be seamless.
The difference between the per-transaction and daily limit needs to be clear, how one affects the other, and how they contribute to the security of their card - all of these aspects had to be accounted for.
Grouping of Information
Some banking apps group information such that first, users would choose whether they wanted to edit per-transaction or daily limits. Then users would choose the spend category to update.
By user testing these iterations, loopholes in this flow made me think about how we may group information more intuitively such that users understand the security these features provide.
THE SOLUTION
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IMPACT
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