About the Formula 0001

Hi!, I have some doubts about Circuit 2; “Create the ultimate consumer checkout experience”

What is the contest looking for circuit 2? plugins for e-commerce sites that offer better checkout experiences? Or any type of product/service that has a great checkout? For example, a service that allows people to sell digital goods is considered valid?

Thanks!

Think of the challenge in any and every way possible - quick, cart abandonment concerns, what are customers looking for when it comes to their checkout experience. What would be the best customer journey/experience? An experience is just as important as the product itself. How would you monitor behavior on an e-comm site and and use engines, etc. to analyze and adapt come to mind. Since Rapyd is doing the heavy work in the back I would consider leveraging that to build an amazing front. These are just brainstorming thoughts and other may argue or add on, feel free.

Just to add to the ‘experience’ part. High converting checkout experiences put low cognitive burden on the user. Think less friction, more personalization, and localization utilizing the PMTs in the Rapyd Global Payment Network. Traditional retail, digital goods, services, B2B - all categories are fair game as long as they are not a prohibited business.

Thank you @uxdrew and @brendanm but I’m still confused :slight_smile: and since the contest is quite interesting I want to be VERY sure that I get exactly what are you guys looking for.

Is Rapyd looking for an amazing product AGNOSTIC checkout experience that works for any type of online service (example https://www.checkout.com/), something that anyone can grab maybe as a plugin and use it in their own e-commerce sites. OR, is Rapyd looking for a online service maybe not even fintech related BUT that has an amazing checkout experience using of course the Rapyd backend.

Thanks @dlupo, I would apply these three points of criteria to those ideas from 6. Judges & Criteria. on devpost.

Entries will be judged on the following equally weighted criteria, and according to the sole and absolute discretion of the judges:

  • Quality of the Idea (includes creativity and originality)
  • Potential Value (includes the extend to how valuable the solution is)
  • Implementation (includes how well the idea was executed by the developers, and the code quality )

A checkout experience that works for any type of online service would certainly have scale and potential valuable. Would well could this be implemented? Would this be a replica of checkout .com or would there be originality to the product that works with Rapyd?

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Agree with @Kyle - something that is agnostic (eg. white-label) is going to have greater scale and broader business utility. You could also tailor it to a large volume category (eg. travel, B2B, retail).

I found the answer on the Hackathon site. Here’s the link: Formula 0001: Rapyd Fintech Grand Prix

And have fun. :slight_smile:

Thank you all for the answers, now it pretty much clear!

I’m happy to see a very active community around Rapyd. I’m gonna be working hard for the next 4 weeks on my submission hoping that the time is enough.

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You could get a buddy to help you … just sayin’ :wink: