Chaitanya Athukuri’s Post

The global cashback apps market was valued at $3,373.2 million in 2022 and is projected to reach $6,141.0 million by 2031 All in all cash back apps can complement low-funnel digital marketing strategies as one of the platforms to push sales during peak or offer season, while the other traditional digital marketing strategies continue to focus on acquiring customers where brand loyalty and lifetime value are bigger- Mayank Vora, Co-Founder of Logicloop, opined. More insights from Anand Ramanathan, Partner and Consumer, Products and Retail Sector Leader, Deloitte || Ridhima Kansal, Director, Rosemoore India || Swati Bhargava, Co-Founder, CashKaro.com and EarnKaro || Raghunandan Sarraf, CEO and founder, INSARAF (Saraf Furniture) #brandwagon #brandwagonplus #premiumstory #martech #marketing #cashback #consumers #shopping #digitalpayments #rewardsandrecognition #rewards

Pokémon Go and Google Pay Crossover Google Pay cashback just got gamified!! So, to catch your cashback (Pokémon), you've got to: Step 1: Visit a Google Pay registered merchant (any business that uses a Google Pay QR code).   Step 2: Make a minimum purchase with the merchant and pay using the Google Pay QR code.   Step 3: Claim your cash back . This is a pretty interesting strategy by Google, which ensures a win for all the players. You ask me how. 1. For You and Me - Cashback! Cashback! Cashback!  (read Pokémon) 2. For the merchant – Your shop just turned into a Pokémon Gym, with increased footfall of Pokémon trainers trying to catch the Pokémon  3. For Google – This opens multiple sources of revenue. Transaction fees, Subscription revenue, Processing fees etc (Check the deck below for details) For FY 22-23, UPI handled 43% of the total financial transactions in India.  In FY 22-23, the transactions were USD 1.6 Trillion, with an average transaction value of INR 1700. With a CAGR of 60%, UPI space is heating up. Infrastructure is already in place for scaleup. Use cases of UPI are infinite with Financial products and coupled with ONDC e-commerce is up for disruption! With Google Pay as the 2nd largest PSP (Payment service provider), it would be interesting to see how this strategy plays out! Can it dethrone PhonePe from the number 1 position? Did you know about this new feature? Have you tried it? Are other PSPs using similar strategies? What are your thoughts on these PSPs becoming SuperApps? Let’s discuss in the comments. Source: NPCI website, Google Pay website #GooglePay #Cashbacks #PokémonGo #DigitalPayments #Innovation #Fintech #WinWinWin #LinkedInPost

I'm seeing many apps these days trying to be "everything to everyone" but end up becoming "nothing to anyone". Recently (and finally) uninstalled PayTM after facing a lot of hassle dealing with deadlocks and UX clutter. They are trying hard to retain customers but it doesn't look like it's working for me. The problems: 1. Showing 30-40 random icons and options on the home screen, none of which I use or want to use. This makes it difficult to find the things I actually want to use, which used to be the Paytm wallet. 2. Now that the Paytm wallet is dead, I wanted to withdraw the balance into my bank account, but it says that I need to complete the KYC. Alright, let's do the KYC then? But the twist, Paytm is currently not processing new eKYCs. You have to manually email them or raise support tickets and follow up. Perfect way to create friction to users so that they do not withdraw their wallet balance. Well, I didn't want to waste my headspace and simply ordered a water bottle and paid all the swiggy taxes on Instamart to finish the remaining balance. 3. Promoting random vouchers and games. 99% of the time, they make no sense. No Paytm, I don't care about these vouchers and brands and no, I am not interested in playing some random Rummy game. Most of these vouchers are fluff where the discount is basically a discount you'll anyways get directly on eCommerce websites or a discount on an inflated price. The amount of spam that happens here is ridiculous. And then those reward points. I don't know why they even exist. Trying to find the right usage for them takes so much time and effort and ultimately there's nothing really useful there. 4. Biting more than you can chew. As someone who loves clean UX experiences that save time and headspace, the arrays of options are an immediate turnoff. No, Paytm, you can't cross-sell me loans, banking, ecommerce, investments and trading accounts. I'm not using Paytm because I think it's the best investing or ecommerce app. It was nice when there was only the wallet as a service and I found it smooth to use it across many merchants. Why all this noise? Want unlimited growth instead of specialization in a niche? I understand these strategies and I'm sure they work with some other users. Not for me personally. Hopefully more UX designers and product managers reflect on what they are even trying to achieve on their apps. Users are humans, and not metrics you see on a screen. How do they really feel when they use your app? I understand the need to cross sell and squeeze the most, but at least give some feature toggles to hide stuff that users absolutely don't want. That way, you'll also have a signal on what features users dislike and hide and what to prioritise more on.

Upside Business Model The Upside Business Model is centered around offering cashback rewards to its users for making online purchases through its website and app. Like other popular cashback platforms, Upside allows users to earn a percentage of their purchases as cashback, which can be redeemed later for products and/or services. With a wide range of partner retailers, Upside allows users to save money on their everyday online shopping. Upside has gained popularity among avid online shoppers seeking ways to maximize their savings. Upside offers its users a diverse selection of products and services by partnering with well-known brands and retailers. With its user-friendly interface and seamless integration with popular e-commerce platforms, Upside makes it easy for users to earn cashback on their online purchases without hassle. A brief history of Upside Upside, formerly GetUpside, is a cashback website and app allowing users to earn rewards and discounts on their https://lnkd.in/gd74qZ_N

One of the reasons for the ecommerce websites to get high traction is hassle free payment flow. UPI has a 37% year on year increase with 80 lakh crore processed from April 2024 to July 2024.( source- Livemint.com) The consumer is spoilt for choices with apps like Paytm and Gpay integrated with the ecommerce applications leading to one touch payment. Quite a few orders can be avoided if the payment options were netbanking or credit payment payments as there are details to be submitted as compared to UPI. Customers definitely will look at which app is user friendly for making payments and probably may stick to it #DigitalIndia #payments #UPI

From Pockets to Paytm: How They Conquered Indian Digital Payments Remember the days of fumbling with cash and loose change? Thankfully, digital wallets like Paytm have revolutionized the way we pay in India. But how did Paytm rise from a startup to the undisputed king of digital wallets? The answer lies in a clever combination of rewards and relentless marketing, making them the go-to app for ditching your bulky wallet. The Secret Weapon: Cashback Magic Paytm didn't just offer a digital payment solution; they offered a sweet incentive – cashback! Their enticing cashback offers on everything from mobile recharges to bill payments made going digital a rewarding experience. Suddenly, ditching cash wasn't just convenient; it meant getting money back! More Than Just Cashback: Building a Payment Powerhouse Cashback was just the first step in Paytm's winning strategy. Here's what fueled their meteoric rise: Marketing Blitz: They launched aggressive marketing campaigns across social media, TV, and online platforms. Catchy slogans and clear messaging drove home the convenience and benefits of using Paytm, making it a household name. User-Friendly App: They prioritized a user-friendly app experience. Downloading, signing up, and making payments were designed to be seamless, encouraging widespread adoption. Focus on Value: They went beyond just payments, offering bill payments, movie ticket bookings, and even shopping options within the app. Paytm became a one-stop shop for all your digital needs. The Results: A Digital Payment Empire Paytm's innovative strategy has transformed the Indian digital payment landscape. Here are some impressive stats: A Massive User Base: They boast over 350 million registered users, showcasing the widespread adoption of their platform. Transactions Galore: With 25 million transactions per day, Paytm has become an integral part of everyday life in India. Market Domination: Their aggressive marketing and user-centric approach have captured a significant market share, making them the go-to digital wallet for millions. Intrigued by Paytm's Rise to the Top? Paytm's story is a testament to the power of a compelling offer and strategic marketing. But how can you translate this success to your own business? The key is to understand your target audience, offer them value beyond the core service, and make user experience a top priority. Ready to Make Your Business Payment-Ready? Head over to our YouTube channel, Digital Insights Nexus [https://lnkd.in/gkF7NiWT]. We delve deep into case studies like Paytm's and share actionable tips to help you develop a marketing strategy that will make your business the preferred payment choice for your customers. So, subscribe today and join our community of digital payment revolutionaries! Let's make your business a seamless part of the digital payment revolution. #digital #paytm

💬 Which UPI app do you use? Google Pay, PhonePe, Paytm or some other app? Let me know in the comments section. I recently stumbled upon super.money built by Prakash Sikaria and his team and it is from the Flipkart group and have been using it for the past few weeks. Super.money is aggressively trying to capture the UPI market with its incredible cashback offers. Here's what they are offering: 1. 💵 Flat 5% cashback on all merchant transactions. 2. 📦 10% cashback on Flipkart COD orders. 3. 👗 Flat 10% cashback on Myntra COD orders. And that's not all! They’re soon launching superCard, which promises attractive interest rates of up to 9% on deposited amounts. Here's the backstory: Despite having PhonePe, backed by Walmart (a majority stakeholder), Flipkart decided to launch super.money after PhonePe completely separated from the Flipkart group in December 2022. While PhonePe holds nearly 50% of the UPI market share, super.money is carving out its own space with a user-friendly interface and enticing offers. 𝐊𝐞𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: 1. 🛠️ Simple to use, with no extra click to scan code for every payment. 2. 💰 Great cashback offers on all merchant transactions. 3. 📈 Currently in beta with 50k+ downloads and an average rating of 4.1 on the Play Store. From a product perspective, 𝐰𝐡𝐚𝐭 𝐈 𝐥𝐢𝐤𝐞𝐝 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐢𝐬 𝐭𝐡𝐚𝐭 𝐮𝐬𝐞𝐫𝐬 𝐜𝐚𝐧 𝐫𝐞𝐝𝐞𝐞𝐦 𝐭𝐡𝐞 𝐜𝐚𝐬𝐡𝐛𝐚𝐜𝐤 𝐨𝐧𝐥𝐲 𝐨𝐧𝐜𝐞 𝐭𝐡𝐞𝐲 𝐫𝐞𝐚𝐜𝐡 ₹𝟏𝟎𝟎. 𝐓𝐡𝐢𝐬 𝐜𝐫𝐞𝐚𝐭𝐞𝐬 𝐚 𝐥𝐨𝐨𝐩 𝐰𝐡𝐞𝐫𝐞 𝐮𝐬𝐞𝐫𝐬 𝐤𝐞𝐞𝐩 𝐜𝐨𝐦𝐢𝐧𝐠 𝐛𝐚𝐜𝐤 𝐭𝐨 𝐭𝐡𝐞 𝐚𝐩𝐩 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 𝐭𝐡𝐞 ₹𝟏𝟎𝟎 𝐭𝐡𝐫𝐞𝐬𝐡𝐨𝐥𝐝 𝐚𝐧𝐝 𝐫𝐞𝐝𝐞𝐞𝐦 𝐭𝐡𝐞𝐢𝐫 𝐜𝐚𝐬𝐡𝐛𝐚𝐜𝐤, 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐚𝐩𝐩 𝐚𝐝𝐨𝐩𝐭𝐢𝐨𝐧. While offers may eventually reduce or be removed, I believe Flipkart, and Myntra offers will continue as they are all from the same group. This shift might also impact market of co-branded credit cards like Flipkart Axis and Kotak Myntra, moving that share towards their own cards. Also, I wish they start referrals soon for better and quicker distribution. Check out the app link in the first comment. Let me know your thoughts and if you've tried it! 💬👇

Hello #Connections, I'm Looking For Quality Traffic For Below Offer We've Great Budget And High Payout On This #Campaign: #HDFCPAYZAPP CPR Gaid IN #Preview link: https://lnkd.in/ge_jUQN2 #KPI: UPI Activation: af_purchase #MMP: Appsflyer #Fraud Tool: Mfilter User/ #Conversion Flow: Install > Registration > Login > Purchase (UPI Activation) #VTA: No Total Daily Caps: 500 events per day #Payable Event: ob_user_onboarded Validation Criteria: mFilterit Mandatory #Campaign Name to be passed: socialdonut_payzapp_upi Billing would be made ZERO if the campaign name is not passed NOTE: ARPU should not be below 3000 INR Install to Registration - 30% (Hard KPI)

Addressing edge cases is what sets a product apart and keeps users coming back Let me say a quick story, My Dad asked me to recharge a Data add-on,I directly went Google Pay, which is my go to payment app, I chose the plan and made the payment, but then I got a error message saying that "Plan is invalid". My dad didn't know that an add-on plan can be used only if there is active plan, Then I sorted it out. But this Situation got me thinking, why didn't the app indicate me that my dad doesn't have an active plan before I tried making payment for an add-on I was curious to know, how the competitors are handling this situation, and I started checking them out... Surprisingly each one has a different approach. PhonePe Indicated that I don't have an active plan, as soon as I tapped on the add-on tile. This made me aware of the situation and act accordingly, without taking multiple steps. Paytm Indicated it after I choose the plan tried to initialise the payment. Google Pay Indicates this post making the payment. Technically, These are all just few clicks away, but still I matters the most and has an strong impact on the experience because Normally this wouldn't make a bigger difference, but when I did this I was in a meeting, and I wanted to make the action as quick as possible, that's when the frustration comes. Had a self realization that, How much impact can a product decision make for a user I'm sure each one might have their own business reasons for having it in the way they have chosen, I would love to know what you guys think of it too....! I always wondered, how are these many competitors co exists in the market (of course, they all have their own unique USP's) but the core of digital payment app remains the same. Now I'm getting to realize, how even though they all provide the same service, yet each product has its own understanding of the user, finds out the nuances, solves them and delivers a delightful user experience. Thank you Sabeeli Samanyuwidha you deserve a 5 star 🍫 (iykyk 😅 )