“This is how it’s done in the real world. Now how do we make an app for it?”
In retrospect, this has been the central question behind every other recent digital transformation initiative. Everything from buying groceries to maintaining a stocks portfolio can be accomplished through your smartphone.
The convenience of seamless digital payments holds universal appeal among different demographics. However, today’s app developers aren’t going to settle for adequate solutions. In their pursuit of multifaceted superapps, where’s the event horizon where super wallets end and superapps are born?
To start, let’s take these two concepts at face value and chalk out some basic definitions.
At first glance, these definitions might seem like two sides of the same coin, which is true in a sense. Both applications endeavor to be “super,” which suggest similar missions—to become an all-inclusive solution with an emphasis on end-user convenience.
The “super” motif isn’t merely there for flavor. Apps like Grab and PayPal walk the walk as well. The market demand is hard to miss, with 67% of US consumers voting in favor of accessing a wider range of services in a single app.
Where do the differences lie then?
Users and services
Super apps and super wallets work towards the same goals in principle. The monikers are more marketing buzzwords meant to showcase the core versatility of these solutions. Look beyond that veneer, however, and the distinctions become more apparent.
Super parameters & differentiators
The Super league
In sectors as competitive as fintech and e-commerce, a diverse repertoire of services for optimum customer satisfaction and convenience is fast becoming a prerequisite for success. No matter the method, efficiency is the keyword, with each brand arriving at different definitions of what being “super” truly entails.
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