Matt Maher, the famous Canadian contemporary Christian music artist and songwriter, said, “In order to move forward, you have to look back”. Of course, looking back doesn’t mean staying in the past; instead, it is the opposite — it just means to take stock, learn and forge ahead.
I think this principle can be beneficial to our personal lives and career, as it can be for product and community growth, and that’s why we are launching Stax’s monthly roundup.
At the beginning of every month, we commit to writing and publishing an article highlighting our growth in the previous month. Here we’d write about new features, new markets, what we are learning about Stax, what Staxxers are saying, what to expect in the new month and more.
We hope you enjoy looking back with us. More, we hope these updates draw you closer, that you hold us accountable, and you love Stax more with every read.
Let’s kick off with May’s update, shall we?
Coming out of Beta
On the 7th of May, after months of beta testing, learning and iterating, we finally came out of Beta.
We couldn’t have done it without our early users and money mappers — everyone who trusted us enough to try the app while at its most fragile stage — many thanks.
In addition, we wrote our very first product explainer article where we shared light on why we ask for phone permissions when you first join Stax.
We hit a record of 10 or more services available on Stax in a country. That’s right, in May, we added many more services (bank/mobile money accounts that users can link to their Stax app). We now support 10 services in Kenya and 11 in Nigeria (including Ecobank).
We also currently support 6 in Tanzania, 3 in Ghana and Zambia, 2 in Uganda and Cameroon etc.
Just like we did in May, we will add new services in all the countries we currently support every other week in June!
Fun Stuff We Learned
- 49.43% of all transactions on Stax are done offline.
It is incredible to know that (a) users are saving data by using Stax offline and (b) they never have to bother about the quality of their internet connection when moving money.
- 10 is currently the highest number of accounts linked on Stax on a single device, whilst 2 accounts is the average.
- Users in Kenya love spending from their M-Pesa on Stax.
M-Pesa related transactions (sending money to, receiving money on & buying airtime from M-Pesa) make up over 50% of all transactions on Stax.
- While M-Pesa is the top service for Stax users in Kenya and Tigo Pesa is for Tanzania, Gtbank, Opay & Access bank rank top for Stax users in Nigeria.
We can’t wait to see how this stat evolves as we add more services and enter new markets every other week.
- 46% of Staxxers use a Samsung device 😎
What does June have in store?
- We are launching a brand new website in June — so fresh, so clean, so awesome, I promise!
- We are going to keep adding more services in the countries we currently support.
- Our design and engineering team is working overtime this month to bring Staxxers an even smoother onboarding process and other improvements that will make you love and use Stax more.
- Without compromising the ‘’no signup required process’’, we are exploring how we can enable you to give us real-time feedback, request for features while also allowing us to engage with you on a more personal level. More updates on this soon.
Less than one month out of Beta and Stax is becoming everything we hoped it’d be.
Our commitment remains the same — to enable you to move money without stress, like never before.
See you in the June’s update.