The buzz around super apps may have died down but the idea of a one-stop, multi-service platform still appears to be attractive for conglomerates such as the Adani Group which reportedly intends to continue pushing for the widespread use of its super app called Adani One. Since its launch in 2023, Adani One has over 30 million users. But the company aims to multiply its user base by 16 times and touch 500 million users within the next six years, according to a report by Bloomberg. However, growing user acquisition at that rate could be harder than it looks at a time when homegrown super apps are facing tough competition from e-commerce giants such as Amazon and Walmart-backed Flipkart. In simple terms, a super app is an app that allows users to book a cab, buy movie tickets, shop for groceries, pay utility bills, and more by either bundling these services on one platform or enabling access to different apps within a single app. While growing smartphone sales and access to mobile internet initially drove the rollout of many super apps in India during the past few years, where are they now? Take a look. Tata Neu The super app developed by the Tata Group went live in 2022 and offers users access to a variety of apps such as Tata Cliq, Tata 1mg, Westside, Air India, Taj Hotels, and BigBasket, among others. Tata Neu also has a rewards system in place called Neu Coins which are earned by users based on spending and is reportedly redeemable via the services provided through the app itself. Tata Neu had a rocky start as several users had complained about the glitchy interface of the super app, payment issues, and a lack of uniformity. But after revamping the user interface and upgrading it with some more features, the super app reportedly reached 60 million cumulative downloads in 2023. Additionally, the standalone revenue of Tata Digital, which is the entity behind the super app, grew 13 times to Rs 204.35 crore for FY23. This year, Tata Neu announced that it is joining the government-backed Open Network for Digital Commerce (ONDC) to launch food delivery services in Mumbai, Pune, and Delhi-NCR. MyJio and Jio Finance Back in 2019, Mukesh Ambani-led Reliance had announced that it would be bundling its consumer and entertainment offerings into a suite of services that include recharges, games, music, OTT content, e-commerce, etc, to be accessed by users through its super app called MyJio. A year later, it also rolled out a UPI payments feature on the super app. In early June 2024, Reliance Industries subsidiary Jio Financial Services announced the launch of the beta version of its super app with a focus on digital banking. “This app seamlessly integrates digital banking, UPI transactions, bill settlements, insurance advisory, and offers a consolidated view of accounts and savings, all in one user-friendly interface,” Jio Financial Services said in a statement. Moving forward, the company said that it will be expanding to provide loans on mutual funds as well as home loans. “Our end goal is to simplify everything related to finance in a single platform for any user across all demographics, with a comprehensive suite of offerings like lending, investment, insurance, payments & transactions and make financial services more transparent, affordable and intuitive,” a Jio spokesperson was quoted as saying by Financial Express. Adani One The services offered by the Adani One super app are currently restricted to flight, train, bus, and hotel bookings in addition to letting users check their flight status and pre-order Duty Free items at airports that are run by the Indian multinational. User transactions on the super app till March 2024 reached Rs 750 crore ($90 million), as per the company’s annual report. It is further expected that Adani One will be foraying into the payments sector pending the issuance of a UPI licence, Financial Times reported. The move reportedly makes strategic sense as it would draw more users while saving the company third party payment processing charges. Adani Digital Labs, which runs the super app, also plans on reaching more users by catering to consumers of Adani Power and Adani Total Gas. What's next for super apps in India? Even as some of India’s biggest business houses seem to remain bullish about super apps, such all-encompassing platforms could face regulatory hurdles. For instance, the potential of a super app hinges on the sharing and aggregation of personal data belonging to customers who may have used any one of the services owned by the same company. However, under the Digital Personal Data Protection Act, 2023, companies are required to obtain informed consent of customers before processing their personal data for cross-selling purposes. Additionally, stored customer data should be deleted if they choose to withdraw their consent. Similar consent-taking obligations also find place in the draft Digital Competition Bill which separately proposes that certain companies should not require or incentivise its customers to use services bundled with its core digital service unless they form an integral part of it.
