Super app or super disruption?
"How should banks prepare for a world dominated by super apps and mobile"
"If you reside in the West, you may have heard of super apps. If you live in Asia, you probably spend most of your ‘screen time’ using one. So what exactly are super apps and why are they so revolutionary?
Super apps essentially serve as a single portal to a wide range of virtual products and services. The most sophisticated — apps like WeChat and Alipay in China — bundle together online messaging (similar to WhatsApp), social media (similar to Facebook), marketplaces (like eBay) and services (like Uber). One app, one sign-in, one user experience — for virtually any product or service a customer may want or need.
Due in large part to their versatility, super apps have quickly become ingrained into users’ daily lives. It is not unusual for a WeChat user in China to set up a date with a friend via instant messaging, make dinner reservations, book movie tickets, order a taxi and pay for every transaction along the way, all using one single app."