The battleground to become India’s top super-app is set, the players in full form with funds from international giants flowing into native startups.
Super-apps are undoubtedly one of the biggest influences on mobile service startups around the world. This super-application is a multipurpose application that has seamlessly integrated several functions such as chat options, payment and financial services, online shopping, and more.
That progress and profits from Chinese giants like WeChat and Alipay did not escape the attention of the world
Apart from China, other countries have also not abandoned the need to develop this super-app. Recently in Japan, Yahoo Japan Z Corp’s parents joined LINE, the most popular chat application in Japan, Taiwan and Thailand to develop super application models for both brands.
In the Southeast Asian region, start-up companies such as Grab and Gojek make their full effort to develop themselves into supermarkets by adding payment services, food delivery, and much more to their core travel functions.
In India, the most valuable startup in the country, Paytm worth $ 16 billion as of November 2019 has intended to be a super app. Applications supported by Alibaba Group and Softbank Group have added groceries, banking and financial shopping services, health services and food delivery to mobile payment applications for the past few years.
However, presenting the biggest challenge for Paytm as a super application is something new Facebook deal with Jio. On April 21, Facebook announced a $ 5.7 billion investment in Jio, the youngest but largest cellular operator in India.
The combination of the largest social network in the world and the largest cellular network in India will surely overtake several other giants in many fields.
Comments from Facebook chairman Mark Zuckerberg and billionaire Mukesh Ambani, chairman of Reliance Industries, parent company Jio Platforms suggest that the goal lies somewhere near the most popular application in India, Whatsapp which has about 400 million users.
Just less than a week after the announcement when the masses were happy to note that Jio’s grocery shopping service, JioMart, opened a business account on WhatsApp. As easy as it sounds, consumers only connect to JioMart via automatic text messaging on WhatsApp.
After being launched in only a few urban districts, it aims to find out whether the concept of multipurpose applications or super applications can target millions of Indians on popular chat applications.
Jio has previously been known to release a large number of applications, in a short three and a half year history that includes streaming video and music, chat, payment services, and health care.
The danger of Whatsapp links to many Jio services hovering over Paytm. With shopping and payment services, the application will act like a super application, putting Paytm in a dangerous position.
With around 350 million registered consumption users and 200 million active monthly users, PayTM is accepted by around 15 million merchants. It had gained enormous popularity after Indian demonization, now the impact was such that roadside vendors with QR codes installed in stores also received Paytm wallets.
On the other hand, JioMart seeks to connect as many as 30 million small-scale retailers with local Jio customers with free shipping as a consequence that Paytm might be affected.
Damage will not be done alone by Paytm, like other applications such as, online grocery startups such as Big Basket and Grofers, and Dunzo, which provides “errand boy” services for residents in many cities will also experience a dent.
In the current terrible pandemic, online platforms such as Amazon and Flipkart that are vigorously strengthening their food service, because food and medical goods are the only things that allow governments to be sent, will be challenged to the core.
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