This is my final presentation for General Assembly (GA). It is a about a new payment solution. Let me know if you have any feedbacks!

1. Page 1
Flexit
A tailored payment solution just for you
BY
Zhehao Zhou

2. Problem Slides

3. Problem Slides
No/Short Credit History Low FICO Score
Low Credit Approval Rate

4. Product Value Proposition
Easier
Process
Different
Approval
Criteria
Lower
Cost
No Fixed
Limit

5. Product Offering
• The 3rd party payment option is directly embedded into the checkout page;
• Monthly payment and interest charge will be shown at the beginning and
no hidden fees will be charged
Easier Process
• Customers don’t need FICO to be qualified for a credit line
• Other factors, like education background and potential income will
become the main drivers
Different Approval Process
• It will have lower interest rate than traditional credit card or even personal
loan
Lower Cost
• Every loan is underwritten individually so no fixed credit line is set,
compared to traditional financing options
No Fixed Amount

6. Competitive Analysis
Credit Card Personal Loan PayPal FlexIt
Process Complicated Complicated Relatively Easy Easy
Approval Rate Low Low Medium Medium to High
Credit Line Low Low Low No Fixed Limit
Cost $$$ $$ $ $

7. Typical Persona
Veronica
Veronica is a recent graduate from Columbia
Law School and just starts working for a law
firm in New York City. She really enjoys work
because it gives her more financial freedom.
At the same time, she still has $100,000
student loan from undergraduate and law
school. She wants to pay back the loan as
soon as possible but also wants to have a
quality life. She enjoys shopping and has a
strong sense of personal finance. She knows
to save some money for emergency and
starts to learn how to invest.
Characteristics:
• Hardworking and often stay up late for work
• Enjoys shopping to have a quality life
Goals:
• Pays back student loan as soon as possible
• Wants to date guys
• Learns how to invest
Pain Points:
• Students loan accounts for a large portion of
monthly budget
• Wants to buy some expensive items but does not
disrupt regular spending
A recent graduate from Columbia Law School

8. Typical Persona
Sam
A graduate student in accounting from Pace
University
Sam is a graduate student at Pace University.
Like most young people, he spends most of
his free online and share interesting stuff with
friends. As he is still a student, he has a tight
budget every month and has to think twice
before buying any large items. At the same
time, his friends always share their
interesting purchases online, like new
bicycles or sport gears.
Characteristics:
• Outgoing and social
• Absorbing new information all the time, mainly
from social networking sites
Goals:
• Wants to land a job in account
• Wants to buy interesting gadgets
• Wants to learn personal finance
Pain Points:
• Has a very tight monthly budget
• Has no credit history and cannot get a credit card

9. Target Customer UX
CART
$ 750.0
CHECKOUT CHECKOUT
FlexIT
We want to learn more
about you.
How old are you?
Are you currently working?
Where do you go to school?
Congratulations!
Tell us which option you
prefer?

10. Key Metrics for Performance
 Number of New Customers;
 Number of Returned Customers;
 Annual Spend Per Customer;
 Number of Merchants;
 Default Rate;

11. Product Roadmap

12. Product Financial Model
Assumptions:
1. It is assumed that there are no credit losses;
2. It is assumed that customers are acquired on the first day
of business;
Revenue Assumptions
1. Percentage of transaction 2% of each transaction
2. Interest Charged 10% of total interest 12% APR
Cost Assumptions
1. Partner Cost
The fixed cost for
partnership
$10000 per
merchant
2. Acquisition Cost
The cost is the same for
all acquired customers
$10 per
customer
1000 1500 2000 2500 3000
500 1000 9000 17000 25000 33000
600 3200 12800 22400 32000 41600
700 5400 16600 27800 39000 50200
800 7600 20400 33200 46000 58800
900 9800 24200 38600 53000 67400
1000 12000 28000 44000 60000 76000
Annual Spend Per Customer ($)
AnnualCustomersPerMerchant
Annual Profit above $20,000

13. Potential Problems
 Market fit and acceptance
 Strong Competition
 Initial Investment in partnership and customer acquisition
 High default rate because of change of underwriting criteria
 Regulations