Nearly three-quarters (72%) of consumers are interested in a ‘super app’ that acts as a one-stop-shop for most of their needs, according to a report from PYMNTS and PayPal.
The report describes a super app as a single interface that lets users shop, order food, check social media, manage their banking and more.
Its survey, ‘The Super App Shift’, included responses from 9,900 consumers in Australia, Germany, the UK and the US. Of respondents, 72% of global consumers were interested in the super app, with 25% saying they are very or extremely interested and another 47% said they are slightly or somewhat interested.
Consumers in the UK were the most interested, with 74% indicating interest. It was followed by the US (72%), Germany (70%) and Australia (66%).
The report explores the six main benefits consumers consider a super app would have. The biggest benefit was minimising the risk of losing sensitive information (57%), followed by allowing them to coordinate different areas of their life in one place (55%) and minimising the need for many security measures (55%).
Other benefits included minimising trust concerns (55% and minimising the need to localise the right app (54%).
A recent report from OneSpan claimed that enhanced cybersecurity is vital for any financial super app. It stated that while they offer more convenience, they pose more risks than smaller competitors.
Copyright © 2022 FinTech Global
