Case Study
Challenges
In their mission to empower digitally savvy Australians to expedite their savings and investment journey, the Blossom team faced a critical challenge in optimising the customer account funding process. The crux of the issue lay in finding a balance between cost-efficiency and transaction velocity. Current payment methods represented a 1-2 business day delay in funds landing into the Blossom App. This temporal setback in fund availability was a roadblock in maintaining the momentum of users’ getting started with the Blossom App.
Azupay and Blossom Solution
By offering customers the ability to fund their Blossom accounts using real-time payments via Azupay’s PayID, Blossom found a payment solution without compromise. Now, Blossom can onboard and have customers invested within 5 minutes of onboarding. Each Blossom account is linked to a unique, static PayID which makes funding and adding to their savings easy and instant. Over the last 3 months of 2023, 29% of payment events were facilitated via PayID and one of the highest inflow payment methods for Blossom.
The innovation does not end with account funding. Blossom has also integrated Azupay’s PayOut solution, accelerating the withdrawal process. Customers can now transfer their returns to their nominated bank account in real-time up to $5,000. This will instantly enhance the platform’s user experience and efficiency. Users may be more inclined to save more with the Blossom App knowing that withdrawals can instantly land in their account when they need it. The synergy between Blossom App and Azupay’s PayOut solution focuses on providing a more innovative payment journey payment experience for their customers.
Blossom’s Co-Founder Gaby Rosenberg: “implementing Azupay’s PayID solution has solved our payments challenges by giving our users the ability to instantly contribute to their savings and to withdraw to their bank accounts as and when they need it. It’s now our most popular transfer type as customers are accustomed to using this method. We’ve seen a significant decrease of first funding time since the launch of PayID to the Blossom App.”
These strategic integrations not only underscore Blossom’s commitment to efficiency but also reflect a forward-thinking approach to financial technology—ensuring that every transaction is as instantaneous as it is secure.
About Blossom
Founded in 2021, Blossom is a savings app that provides Australians with access to fixed income investments through the Blossom Fund. Users can get started with just $5 with no sign up or transfer fees. Blossom has over than $65 million in funds under management as at 30/05/2024.
Founders: Gaby Rosenberg, Ali Rosenberg
Website: www.blossomapp.com
