Taking Advantage of the Super App Opportunity: How Banks and Payments Companies Are Preparing for the Rise of Super Apps

The much anticipated introduction of Super Apps into Western economies continues to generate headlines and elicit bold predictions from commentators. Certainly, Super Apps are set to fundamentally change consumers’ digital habits and preferences over the coming years and this will have major implications for businesses in all consumer-facing industries. The rapid momentum towards Open Banking in North America and Europe is shifting these dynamics and opening up opportunities for Super Apps to emerge in these markets. Rather than being perceived as a threat to their brand equity and their existing apps, leaders instead view Super Apps as a vehicle to enter new markets, reach new audiences, diversify service offerings and open up new revenue streams.