BANKING
What are the downsides ? According to a recent report by the designer trade title UXDesign . cc , while super apps are considered a growing trend , the consumer marketplace is also treating them with a degree of suspicion .
There is , in general , a lack of consumer trust – especially regarding the collection of data and the rising power of the tech industry ’ s ongoing issues with privacy and security .
Ani Ghanti writes : “ It seems like every week there ’ s a news story about a public trust slip-up from big-tech . Over the years , this has gradually eroded consumer trust . Contrary to my first point about the mobile-first generation in emerging economies , the developed economies have experienced the desktop era of the internet and have ‘ grown-up ’ with it over the last three decades .
“ They ’ re aware of the potential for security loopholes and data abuse from app providers . So , to convince users to adopt a super app built by Google or Meta ( or anyone else ), the value proposition better be really compelling .”
Super apps can provide broader services at lower costs In the case of Medsi , the super app is already providing a valuable service to families who might otherwise have foregone the luxury of healthcare – and it ' s saving them money , too .
Speaking about the potential of combining fintech platforms with other offerings , Manuel Villalvazo , Medsi CEO and Co-Founder , explains : “ The new offering is designed for the 55 %+ of Mexicans who belong to the informal sector or are new to credit , making strides towards true , incremental financial inclusion .
46 April 2023