9A – Testing the Hypothesis, Part 2

I interviewed both individuals that would could be potential end users but were likely outside the boundary as well as two people who have their own business/planning to open a shop (one has their own food stall) but were unlikely to due to their business/perceptions.

The individuals are skeptical of cryptocurrency or did not mind high fees as they cannot be bothered with the hassles of avoiding the fees. One person had even fallen into a cryptocurrency scam before and said they would rather pay the high fees with traditional systems and wait and see before using new system.Another individual is older and does not even use a smart phone and said people his age trust the banks and can't be bothered to use other solutions because they are used to it . They accept that the services they use come with fees because they don't know how to manage it and are willing to pay.

Inside the boundary	Outside the boundary
Who is in? Individuals Individuals who travel overseas a lot , to multiple countries Individuals who like the convenience of digital payments (either by card , online or mobile) Individuals who want to cut costs where possible (*assuming vendors can give enough incentives using the system/ during promotional period) Business High end item/expensive/high cost products stores Stores that handle only cash but want a solution to accept digital payments Stores that want to find ways to reduce their expenses/increasing profit	Who is in? Individuals Individuals who do not mind paying for convenience AND know they can save if they bothered to put in the effort Individuals who prefer cash Individuals who are not tech savvy with smart devices Individuals who are afraid/skeptical of new innovations / disruptions in industries and tend to be laggards and wait till everyone else adopts Business Stores that do not need a POS system Stores that have low ticket items(low cost) e.g Mom and pop stores Stores that want to accept only mainstream payment systems as they are used by majority of people and are willing to accept the high fees charged by payment gateway services for this convience
What the need is? Convenient payment system Avoid high fees by payment services/banks Save money/cut expenses Low cost/reasonable payment and financial services	What the need is not? No added value/ No purpose of new system for these users Want Established systems Want high adoption usage/ high traffic before adopting
Why the need exists? People are getting more information and knowledgeable about money and want to avoid paying fees if they can Digital payment becoming more frequent, do not want to lose customer because they do not accept a kind of paymen Businesses want to find the best way to be profitable	Alternative explainations Want to avoid risks involved in new systems vs using traditional, established systems People are resistant to change Not enough value add/ high switching costs (but none/very low cost to adopt  and do not need to switch , just need to add on but user/business is skeptical)