The New York Times described Super Apps as the “Swiss Army knife of apps.” Super Apps are multifunctional applications that unify numerous mobile app services into a common interface - sometimes through an ecosystem of different providers whose components are integrated into a seamless mobile experience.
Super Apps are especially popular with Gen-Z and Millennial consumers, and as ASEAN is home to one of the youngest populations in the world, it is tipped to become a Super App supermarket. According to the Singapore Economic Development Board, the ASEAN Super App market will be worth US$23 billion in revenue by 2025 (up from US$4 billion in 2020) on the back of five main revenue drivers - ride sharing, food delivery, fintech, digital banking, and e-commerce.
ASEAN’s demographics, emerging Super App ecosystems, and strong players including Grab, Gojek, Sea, Wechat and AliPay point to a mobile-first future.
Tom Tovar
CEO. Appdome
ALL THAT GLITTERS…
However, there are no guarantees when it comes to app security and bolstering it is necessary. Security matters, because protecting Super Apps and users from cybersecurity threats is not only critical to securing user Personal Identifiable Information (PII) and ensuring the integrity of their financial transactions, but also an imperative to inspire confidence, downloads andutilisation. After all, a Super App’s value is in its usage and convenience which is only possible if it balances security with user experience. A recent Appdome mobile consumer survey found that consumers in Southeast Asia favour transactional apps because of the freedom they offer, but expect those apps to have the highest levels of security.
This story is from the May 2023 edition of HWM Singapore.
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This story is from the May 2023 edition of HWM Singapore.
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