If you take a look at the main screen of your smartphone right now, you can see a wide variety of applications that you use for different purposes: from games to social networks, including productivity tools.

But what if there was a way to combine all those apps into one Superapp? Centralizing the operation of your device can be a really advantageous decision for some situations.

On the Asian continent, superapps are revolutionizing the operation. In Latin America there are also applications that are trying to become one of them, while in the European continent and in North America the steps have been slower due to the wide range of options and to the fact that there is much stronger legislation.

What are Super Apps?

Superapps are mobile applications that combine the functions of different applications in a single platform. So, for example, you can use a super app to manage your social media accounts, check your calendar and read your email, all in the same place.

Superapps are perfect for people who use multiple apps frequently: they make it easy to access all your information in one place. And because superapps are designed specifically for mobile devices, they're always up-to-date and easy to use.

Advantages and Disadvantages of Super Apps

This type of application has a series of advantages and disadvantages that it is necessary to know. These are some of them:

Advantages

●       They only require a single registration and, therefore, the management of a single password.

●       They save space in the mobile phone's memory, since you do not need to install multiple applications to manage certain activities.

●       You only need to know how to operate the application, therefore the learning time is reduced to a minimum.

●       They are extremely scalable, which allows the association of services that are easily accepted by users.

●       No time wasted on so many downloads and updates, since everything runs from a single environment.

Disadvantages

●       If the security of this application is breached, your data can be violated from multiple areas.

●       A single application obtains all the monitoring of your daily online activity, which generates greater power before the user and the market.

●       They can be seen as monopolies that could affect the app market, for this reason they are not as popular in countries with stronger regulations.

Super App Examples

These are some of the most used superapps today:

Wechat

Specifically in China, there is an application called WeChat in which you can do anything. It is estimated that each user spends on average more than 70 minutes per day within the application.

It allows you to find friends via WeChat ID or phone number and start chatting with them in a matter of seconds. It has common functions of an instant messaging application such as creating groups, posting statuses and even using stickers, but WeChat is something else.

WeChat also makes it easy to order food, shop, and even split the bill. Another curious thing is that it also includes the option to download mini-applications which are versions of some that we use daily on our phones and others that arise from the particular needs of users in certain locations.

Alipay

Alipay is another application that falls into this category. It is part of one of the most famous e-commerce platforms in the world, Alibaba, and its functionality is oriented not only towards facilitating payment methods, but also includes offering personal or small business loans.

In addition, it includes intelligent solutions for restaurants that facilitate the rotation of customers at the table while increasing user satisfaction. It also has functionality for managing vending machines and taxi services.

Baz

This is a Mexican proposal that was registered in 2021 and that already has almost 6 million downloads. With Baz you can make payments based on QR code, or by chat as well as by simple approach.

You can listen to music or podcasts, as well as play games or watch your favorite series. It also facilitates online shopping and is offered as a payment platform for third parties.

Rappi

It is a Colombian startup that also operates in Mexico, Peru, Chile, Argentina, Costa Rica, Uruguay, Ecuador and Brazil. At the end of last year, it received approval from the Colombian banking regulator and announced the launch of RapiBank to offer financial services.

It has made alliances with Banorte in Mexico, Interbank in Peru, Rappi Capital Brazil and Itaú in Chile and hopes to also carry out operations in Argentina, to advance as fintech in those areas.

RapiCard, a credit card issued by the app, has become the second most issued credit card in Mexico in a very short time.

Pedidos Ya

For its part, Pedidos Ya has agreements with VISA to favor the change from the physical handling of payments to completely digital services. They are working on launching credit cards to facilitate access to financial services.

Why are Superapps becoming so popular?

The truth is that these applications are highly popular in China and other Asian countries, but Latin America is following suit. Although they offer important benefits to the user, they must be viewed with a critical eye.

The great Asian giant for many years decided to close internet services to applications managed from outside the country and this has political reasons.

Hence, although the benefits of managing everything from a single application can be very attractive to the user, its disadvantages must also be exposed.

Fintechs are gaining ground on traditional banking financial services and, without a doubt, the emergence of these Superapps represents an opportunity to mix with commercial forms that are currently in full swing in a poorly regulated market.

The popularity is due to the fact that they provide important services such as greater access to financial and commercial services, without so many paperwork, in less time and with a significant reduction in effort for users.

And, for companies, because in Latin America there are still many difficulties in accessing financial services, which makes it possible for them to be feasible from a financial point of view, at least in the short term.

The desire to emulate the commercial success of WeChat or Alipay is present in other regions of the world, however, part of their success is also due to political concepts of the Asian giant, even though they present excellent commercial operation.

Conclusion

Superapps are applications that become the center of operation for other applications and that nullify the maximum potential for action.

They are great in the sense that they help save users time and effort, since all the functionality and security are concentrated in a single space.

These provide important advantages for those who want to buy or sell, as well as financial services facilities, especially for those who do not have the opportunity to access traditional banking.

However, it is important to consider the risks presented by the centralization of data and, above all, your privacy as a user to a single commercial actor. Also, the implications that this would have if this were to be mixed with political ends, as is presumed to be the case in some countries.

I would love to know your opinion about it. Thanks for your time ;-)