The Problem We Were Actually Solving
We had been growing our platform store to include more and more creators, but we were noticing a huge gap in our user demographics. We were getting hundreds of complaints from creators in Bangladesh who couldn't use our platform because they couldn't get paid. Our assumption was that this was a problem of education or awareness, but as we dug deeper, we realized that it was a problem of access. We were competing with local payment processors that were ubiquitous in Bangladesh but didn't integrate with our platform.
What We Tried First (And Why It Failed)
We tried to partner with local payment processors to get around this problem, but it wasn't easy. We had to navigate a complex web of regulations and compliance issues, and it took us months to get our first partner up and running. But even then, we realized that our partner's fees were much higher than those of our original payment processors, and our creators in Bangladesh were still paying the price. We tried to pass the costs onto our creators, but it was hard to justify the extra fees when our users in the US or UK were paying so much less.
The Architecture Decision
We ultimately decided to build our own payment processor for Bangladesh, which we called "Rupay." We knew it would be a complex undertaking, but we believed that if we could get it right, we could provide a seamless payment experience for our creators in Bangladesh and other countries where access was a problem. We had to develop our own system for handling local currencies, complying with local regulations, and integrating with our platform's existing payment infrastructure.
What The Numbers Said After
It took us six months to build Rupay, but the numbers were worth it. We saw a 500% increase in creators from Bangladesh signing up for our platform, and our customers in Bangladesh were paying us on time, every time. Our average transaction volume in Bangladesh increased by 200% in the first year after Rupay went live, and our customer satisfaction ratings in that region rose by 30%. The extra effort and cost had paid off.
What I Would Do Differently
Looking back, I would do a few things differently. I would have started working on Rupay sooner and involved more stakeholders from the beginning. I would have also done more research on local payment processors and identified potential partners more quickly. Finally, I would have communicated more clearly with our creators in Bangladesh about what we were doing to solve their problems. But overall, I'm proud of what we accomplished with Rupay, and I know that it's made a real difference in the lives of creators in Bangladesh and other countries around the world.
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