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Humanising Finance
March 2019
Embracing Super Apps

Embracing Super Apps

There is a mobile app for almost everything. In Asia, we witnessed the rise of various 'super app' ecosystems created by Grab, WeChat, Line and Go-Jek. A super app acts as a one-stop shop where users can do a few things on a single app.

For instance, WeChat, dubbed as the king of super apps, has a payment solution WeChat Pay fully integrated into its social media and messaging mobile app. It is China's biggest multifunctional platform for chats, social networking, e-commerce and mobile payments, serving over a billion users across the globe.

Humanising Finance looks at this emerging trend.
1. Benefits of Super Apps
The success of a super app lies in its ability to be a part of a consumer's everyday life. Most super apps have a payment solution embedded to enable instant funds transfers, which in turn supports third-party service providers. Consumers like the seamless user experience on a super app where multiple tasks can be completed with the touch of a button, including scheduling a doctor's appointment. The greatest advantage is the efficiency and convenience to transact at any time of the day via mobile devices.
2. Maybank Cards Multifunctional TREATS SG App
With the aim of maintaining relationships and driving customer loyalty, Maybank developed its own version of an intelligent app - the TREATS SG app, merging several retail services in one app to suit the lifestyle needs of Cardmembers in Singapore. They can redeem over 100 items with their TREATS Points that were earned from card spending, snap up attractive eCoupon deals, as well as receive real-time notifications on promotions and flash deals. The e-wallet in the app stores eCoupons in a secure and convenient manner, doing away with paper vouchers which can be a hassle to carry around. With the eMenu "Beat the Q" function, Cardmembers can select from 600 food and beverage merchants and make a restaurant booking, order takeaway or home delivery.
3. The Future of Super Apps
Financial institutions still have a role to play in the ecosystem. A case in point, Grab has partnered with Maybank in Malaysia to offer Grab consumers the GrabPay mobile wallet for use at GrabPay merchants and Maybank's key merchants. Vice versa, Maybank customers can pay via Maybank QRPay at GrabPay merchants. Consumers have the convenience to directly top up cash in their mobile wallet via Maybank's Internet banking portal.

With a plethora of data generated by app users, app providers have insights into users' daily behaviour, and may build artificial intelligence into the super app to cross-sell products and services.

At the end of the day, an app is designed to bring about greater convenience and speed, as well as potential financial savings. In the foreseeable future, there will more apps attaining the super app status, and altering how we live, work and play.
Download the Maybank TREATS SG app on Apple App Store or Google Play. Maybank Cardmembers who download the app and log in for the first time get to enjoy a complimentary Spinelli Latte or Cappuccino (worth S$5). Visit maybank.sg/tsq for eCoupon offers available in the Maybank TREATS SG app. Terms and conditions apply.
Disclaimer: This message is for general knowledge or information only. It is not an offer or invitation to buy or sell securities, futures or other products or services. Our products or services vary in different jurisdictions, subject to their respective terms and conditions and the licences our affiliates and us hold. This message is not an advice or recommendation for any financial planning, investment, legal, tax or other purposes and, accordingly, no responsibility or liability is assumed by us or our affiliates, whether directly or indirectly, from any person taking or not taking action.
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