Cashfree, AmazonPay, PayU and more are acquiring PA-CB, PPI, and NBFC licenses to increase their Right to Win, while majority UPI Apps have other licenses to provide potential to augment revenue
I think PPI still makes sense for EnKash, Sodexo, LivQuick because it has more to do with Prepaid cards then wallets, which still have a massive and growing use case - expense management.
Hi Ambika, firstly thanks for making this great piece. It has time and again provided me with a great resource whenever I needed clarity studying FinTech. I would want to understand what is behind NAVI's growth as a UPI app? Apps like GPay and super.money have one-click payment so affinity is there, but PhonePe seems to give more of PayTM / superapp feel. So, what is making users' primary payment app?
1) cleaner interface than the newer apps, and I personally have been having problems with both Gpay and Paytm, I see a lot of failures
2) They are leveraging cash backs, if you see Navi screens, they're promoting it (although not as much as Pop & Supermoney)
3) They were already an app with a user base because of their personal loan. So there was user familiarity. Then they went and became an AMC, so they've been able to cross sell products efficiently, and because they have those products, they've been able to get users to demo the UPI experience on their app. And since its decent, and way cleaner than other newer apps, users have stuck around.
I've tried to cover this in the below post, do check it out!
Thank you soo much for this reply. I recently switch to supermoney. The only reason I was skeptical of Navi's rise was because any user who is switching from GPay would want that one click big-camera-scan landing. Do the payment and get out.
But PhonePe, Paytm, Navi all have the mall-first landing. I wonder if people come for payments and stay for financial services or people get their trust through the financial services and are delighted that that same app does payments as well.
I think PPI still makes sense for EnKash, Sodexo, LivQuick because it has more to do with Prepaid cards then wallets, which still have a massive and growing use case - expense management.
Fair enough!
Hi Ambika, firstly thanks for making this great piece. It has time and again provided me with a great resource whenever I needed clarity studying FinTech. I would want to understand what is behind NAVI's growth as a UPI app? Apps like GPay and super.money have one-click payment so affinity is there, but PhonePe seems to give more of PayTM / superapp feel. So, what is making users' primary payment app?
I think
1) cleaner interface than the newer apps, and I personally have been having problems with both Gpay and Paytm, I see a lot of failures
2) They are leveraging cash backs, if you see Navi screens, they're promoting it (although not as much as Pop & Supermoney)
3) They were already an app with a user base because of their personal loan. So there was user familiarity. Then they went and became an AMC, so they've been able to cross sell products efficiently, and because they have those products, they've been able to get users to demo the UPI experience on their app. And since its decent, and way cleaner than other newer apps, users have stuck around.
I've tried to cover this in the below post, do check it out!
https://thepaintedstork.substack.com/p/60-the-upi-dilemma-what-happens-when
Thank you soo much for this reply. I recently switch to supermoney. The only reason I was skeptical of Navi's rise was because any user who is switching from GPay would want that one click big-camera-scan landing. Do the payment and get out.
But PhonePe, Paytm, Navi all have the mall-first landing. I wonder if people come for payments and stay for financial services or people get their trust through the financial services and are delighted that that same app does payments as well.
Always amazed at the extensive and thorough analysis you put together.
Appreciate it!