Super Apps

What

0 Super apps are ecosystems. They’re enclosed experiences that make it easy to accomplish a wide variety of tasks—as long as the tasks occur within the walled garden.

But what if instead of switching between several different mobile apps, there was a one-stop portal for most of your needs? Well, it already exists — and it’s called the “super app.”

A super app allows a user to access several services from one single app. HOW SUCCESS - Rackup HUGE users - One core Universal MUST HAVE app service - Ridehail,messaging,SN - EC marketplace eg Amzn

• But con gradually be convenience related
  • Food delivery
  • gaming
  • travel,booking
  • Mobile service booking
• Different success factors - Tack on services is NOT GRANTED!
  • Localize app a MUST - affordability, delivery, road conditions
  • GoJek Indonesia could not own phones - gave drivers loans to buy loans - paid off

Payments, Wallet is CORE

• Trust in Wallet key hurdle BECOMES core feature - like your credit card

• BILLING is a pain - email/acc reconcile vs in-app - PAY BEFORE YOU TX

• Payments - starting point for PYPL,SQ,Stripe

• MERCHANT SERVICES

• Marketing/EC - starting point for amazon,shopify

• Sales of products - ironically seems ANTI wallet - but critical for AMZN/SHOP

• FINANCE ACCOUNTS IN MERCHANTS

• Accounting
• Deposits
• Funding - CASH APP
• HR management

refs

• Super Apps: Your Guide to the Increasing Trend
• Super-app: what is it? | PaySpace Magazine
• Super-app: what is it? | PaySpace Magazine
• Explained: What are super apps, why is India getting another one? | Explained News,The Indian Express
• The race to create the world's next super-app - BBC News
• Super app or super disruption? - KPMG Global
• Super Apps: Your Guide to the Increasing Trend
• What is a super app and why haven't they gone global?
• How Meituan Became China’s Other SuperApp - YouTube
• What Is a Super App and What Makes It So Super? | Applause
• Introducing Super App: a New Approach to All-in-One Experience | by Infopulse | Medium

USER POV

• STARTED ALREADY - LARGE CORE User base of mNet will continue

• TRUST is VITAL super apps require a LOT OF KNOWLEDGE every day

  • MONEY Wallet, Credit, cash, bank account
  • TEXT/PHONE CONTACT info - esp sharing with others
  • LOCATION Where you are
  • DATA What you are buying - preferences

• There’s too many apps on our phones—I can’t have an app for my pharmacy, my grocery, for all the different retailers I have. I can’t have 40 to 50 different apps on my phone.

• I can’t remember the passwords
  • iPhone has face recognition so I don’t have to remember or type anything
• I don’t want to enter in all my info every time.
• COVER TOP 8+ APPS = There’s really only eight to 10 apps that we use every single week But those apps are going to morph into what we call super apps.

Speed. Mini programs are cached on the phone, making it faster to load than a mobile app.

User experience. Updates aren’t required with mini programs as the latest version automatically loaded.

Integration. Mini programs are tightly integrated: >60 entry points, directly shareable in chats, deep linking to specific subpages.

Cost. Mini programs typically cost 20% to 50% of the development cost of an app, thanks, in part, to a shorter time-to-release.

REGIONAL/LOCALIZATION Success Factors Trends NOW

• China jumped into internet VERY FAST - leapfrog
  • China unique in bigtech ALL BLOCKED
• India - no current banking,check,credit cards - mobile made EZ
  • Effective PYPL,V,MA are blocked or could not penetrate

Technical Aspects - Mini-Downloadable Apps

Super apps rely on mini programs—lightweight apps that run inside another app. They don't need to be downloaded or upgraded through app stores. They make it possible for one app to perform the service of many apps.

Apple and Google make super apps HARD!

Success Factors FUTURE

• Solve data privacy and Laws - FEWER OPTED IN

• Viral share is Vital - Venmo

• Fintech - work with partners

  • Customer get removed from
  • Data driven like Bankly -

USA limited

• Why SuperApps NOT IN US - privacy, supercompetition
• People willing to SINGLE task across MULTIPLE apps instead of all-in BOSS app
• Consumers in the US and Europe aren’t clamoring for a super app.

Market power. Many industries in the US are dominated by oligopolies—three to four really large firms that control 60% to 80% (or more) of an industry’s market share. A company from outside that industry trying to create a super app will be met with resistance from the oligopolies who may see themselves as potential super app creators.

Consumer behavior and attitudes. The heterogeneity of the US population in terms of wants, needs, and desires means that the loss of choice that inevitably comes from using a super app will be rejected by a large number of Americans.

Technology development. Super apps took hold in Asia because many consumers there owned under-powered smartphones that weren’t conducive to managing 40 to 50 separate apps. In the US, however, the majority of Americans use smartphone with plenty of horsepower.

1. Apple Ecosystem hw platform closest

2. @Pay,@Music,@News,@Cloud

3. Google missed out - has gPay not there!

4. PayPal - TRYING

5. Why: Competitive pressures for its 25m merchants' relationships from SQ etc
6. Venmo top card, still pure cart

PayPal’s network of 24 million merchant partners will gain the ability to offer targeted and more personalized promotions to consumers as a means of acquiring new business and driving increased sales. PayPal Credit may also be integrated into Honey to help finance larger purchases. - Techcrunch

Great companies solve real problems. Mediocre companies make up problems to solve.PayPal isn’t a mediocre company—it’s a great company that has consistently solved real payment problems for more than 20 years now.

EU - very strong in GDPR privacy

WeChat

AliPay

Meituan - non-Fin super App of China

India Paytm 350m

• fully licensed bank

Singapore Grab

• 187m users in 150 cities

Indonesia GoTo

• 2% of $1T GDP

South Korea Kakao

• 87% of pop on messaging

Vietnam Zalo

EM Possible Super Apps

Yummy Delivery App

BM$ dark store delivery operations across Latin America. - MISSION - best last-mile logistics in Venezuela - charges a delivery fee or merchant fee ! Lowest fees in market ! SME EXCLUSIVITY 60% food delivery marketplace => Moat around the market ! LOYALTY - OWN 200,000 registered users already F PREEMPT with a superapp - before copycats enter their last mile niche F - STARTING ridesharing vertical this year F Expand in Peru and Chile by August.

Venezuela LOCAL CHALLENGE + little competition + SMEs need help! - UNSTABLE currency - recent adoption of the U.S. dollar - 70% local Tx in USD - CO use of $s protected in hyperinflation => opportunity for startups in Venezuela

202107 raised $4 m - YCombin,Tinder cofounder Mateen etc - scaleup BPYR 600,000 deliveries of food, groceries, alcohol and shopping. It reached $1 million in monthly gross merchandise volume while also growing 38% in revenue month over month.

2020 launched the company in F Vicente Zavarce, Yummy’s founder and CEO - US college, growth marketing at Postmates, Wayfair and Getaround

Nigeria

• These are the Top Fintech (Financial Technology) Companies in Nigeria (2021) – Daily Finance