053 – SuperApps are going to be one of those technological trends to follow closely this year. They seek to become a platform from which you can obtain a general set of services (financial services, retail, catering) in a personalized way and through a single channel that allows to give visibility to all types of actors.
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Companies such as Uber or Glovo have already started this journey, and we see how services are being added little by little. Without falling completely within the framework of SuperApps, applications that previously offered only food delivery or transportation services, now offer other services, such as package pickup, assistance in shopping at supermarkets or pharmacies.
These platforms were born in Asia, specifically in China, where they have been fully consolidated. They arose from the needs of consumers, who required a means from which to access better digital services and have quick responses to their requests.
Recognizing this, applications that were dedicated to providing services such as payment, food delivery or chatting, evolved to incorporate options that would provide a solution to this situation. This is how super apps came to light, presented as integral platforms designed to facilitate the different virtual activities of consumers.
As current examples we have two well-known Chinese super apps such as WeChat and Alipay. The former is not only the most widely used messaging platform in the Asian country, since, through it, you can also pay bills, make purchases, send money, examine products and more; all integrated in one place. Its undoubted success is evidenced by the billions of users it currently has registered.
As for AliPay, it provides functions ranging from making payments when making purchases through Alibaba to the acquisition of products in other commercial establishments, stores and restaurants. It also provides financial services and allows access to discount coupons, among other useful functionalities.
Another well-known super app is Grab, a Singaporean platform that provides different services such as meal delivery, digital payments, etc. We also have LINE in Japan, which integrates chat services, payments and money transfers, cab reservations, video games, music, shopping mall maps and more. On the other hand, there is Rappi, the Colombian app that users use to order food delivery, buy movie tickets, make P2P transfers, watch streamings, etc.
OMNI, Truecaller, Yandex Go, Go To, Paytm and Baz are also among the super apps making inroads in their respective regions. Similarly, elsewhere, projects are being formed that indicate a rapid rise of these platforms.
Super apps are ecosystems that make people’s daily lives easier, because they offer them to conveniently solve different activities related to their needs with just a few taps. In a world that moves at a dizzying pace, this is a great help to keep them in tune with everything around them, even with issues that require special attention such as business.
The convenience of using one super app instead of multiple individual apps on the phone undoubtedly creates a seamless experience for people. People now shop, book, travel, eat, chat, do business, have fun and much more in a simple and fast way thanks to these platforms.
The most attractive thing about superapps is that you get everything in a single application that is usually intuitive and easy to operate, which in turn allows the user to have an unparalleled experience. In addition, these platforms can provide a secure environment for doing business by keeping people’s financial data and other sensitive information well protected.
What started in China appears to be rapidly expanding globally. In fact, it is expected that by 2027, the number of users using super apps will exceed 50% of the world’s population. Thus, the future looks quite promising for these platforms, which will continue to evolve to provide consumers with new functionalities.
In Latin America, Africa and other regions, progress is already being made in this regard, with the creation of applications that incorporate complete digital ecosystems based on primary services. However, in other areas of the planet, super apps must first overcome some regulatory processes before they can offer their services to the population that expects them.
A virtual revolution is coming with the definitive irruption of super apps in the digital market. With the development of these platforms, great advances are sure to be achieved to provide users with improvements when performing financial transactions, keeping in touch and acquiring products and services.
It is believed that 2023 will be the year in which the first SuperApps will appear globally, marking the path that awaits us in the coming years.