PhonePe plans to be a super app like WeChat
BENGALURU: Payments platform PhonePe is trying to do a WeChat — become a ‘super app’ that will enable users to avail of a variety of services — including cab-hailing, food-ordering, hotels and flight bookings — within the app itself, without the need to go to other platforms.
Over the next two months, PhonePe’s platform will have over 30 major digital merchants map their in-app experience on it. Companies like Goibibo and Ola are already live on the Bengaluru-based company’s platform. While Phone-Pe’s immediate focus is to on-board platforms with high daily use, it also plans to open brand stores in its super app for traditional businesses.
In China, Tencent-owned WeChat and Alibaba’s Alipay have a whole slew of services within them. PhonePe’s rival Paytm has built additional services on its own, instead of partnering with existing players. Other Indian startups have made attempts to build similar capabilities but without much success.
If and when the PhonePe project scales, it will consider bringing a loyalty programme to try and get users to keep transacting within its ecosystem. To put a perspective on super apps, consumers sent more than $2.9 trillion inside Alipay and WeChat in 2016, according to a Bloomberg report.
Over the next two months, PhonePe’s platform will have over 30 major digital merchants map their in-app experience on it. Companies like Goibibo and Ola are already live on the Bengaluru-based company’s platform. While Phone-Pe’s immediate focus is to on-board platforms with high daily use, it also plans to open brand stores in its super app for traditional businesses.
In China, Tencent-owned WeChat and Alibaba’s Alipay have a whole slew of services within them. PhonePe’s rival Paytm has built additional services on its own, instead of partnering with existing players. Other Indian startups have made attempts to build similar capabilities but without much success.
If and when the PhonePe project scales, it will consider bringing a loyalty programme to try and get users to keep transacting within its ecosystem. To put a perspective on super apps, consumers sent more than $2.9 trillion inside Alipay and WeChat in 2016, according to a Bloomberg report.
(This article was originally published in The Times of India)