Super Apps

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    • Recently, Elon Musk revealed the idea of creating an “everything app”.

    What is a super app?

    • It has been described as the Swiss army knife of mobile apps, offering a suite of services for users such as messaging, social networking, peer-to-peer payments and e-commerce shopping.
      • These mega apps are widely used in Asia because mobile is the main form of access to the internet for many people in the region.

    What are some examples of super apps?

    • Chinese super app WeChat is one of its examples having more than 1 billion monthly users.
      • Users can hail a car or taxi, send money to friends and family or make payments at stores. 

    Have other US tech companies tried this?

    • Snapchat parent Snap Inc previously introduced peer-to-peer payments called Snapcash, but ended the feature in 2018.
    • Meta Platform Inc’s Facebook and Instagram have also tried to expand beyond social networking and messaging into e-commerce.

    Source: IE