Multi-service app or super app is referred to applications that fit in with a wide array of functionalities and services. Traditional applications are single purpose, while multi-service apps handle numerous tasks and services under one app. Typically at first multi-service apps establish a strong user base by offering important services such as digital payments or instant messaging which is followed by the expansion of offerings. Developing nations across the world are experiencing rapid digitalization which in turn drives the demand for multi-service apps. These apps serve as all-in-one platform for services including ride-hailing, food ordering, financial services, and messaging.
Furthermore, growing smartphone market and increasing penetration of high speed internet is driving digital payment market. The growth in digital payments is encouraging companies to integrate financial services into multi-service apps. Moreover, according to Consegic Business Intelligence, Digital Payment Market size is estimated to reach over USD 5,701.37 Billion by 2032 from a value of USD 1,646.02 Billion in 2024 and is projected to grow by USD 1,893.23 Billion in 2025, growing at a CAGR of 16.8% from 2025 to 2032.
The Landscape of Developing Markets: Ripe for Super Apps
Increasing mobile Penetration
In developing nations, smartphones are primary methods for accessing the internet. A large population skipped the era of desktop internet and jumped straight onto mobile connectivity. This mobile first shift for accessing the internet drives the demand for multi-service apps which offer diverse services.
Fragmented Traditional Infrastructure
The developed economies have a well-established BFSI, retail, e-commerce, and transportation accessibility while developing economies face inefficiencies and inaccessibility. In these situations super apps play a vital role in joining gaps and offering a unified and manageable platform, providing diverse services.
Cost-Effectiveness and Data Constraints
In developing nations disposable income is limited and Data plans can be expensive. Also smartphone storage can be limited which in turn hinders the downloading and managing of various single-purpose apps. This is where super apps provide an efficient solution for accessing different services on a single platform.
Low Financial Inclusion
A large portion of the population in emerging economies are underbanked and are far from financial inclusion. Multi-service apps with integrated solutions including messaging, financial services, and others serve as a key entry point for the inclusion in the financial system. The app enables cashless transactions and provides a way to get credit without visiting the bank.
Strong Community and Social Ties:
Developing economies mainly in Asia and Africa have a strong focus on community and social communication. The integration of features including messaging and social media within multi-service apps, cements its adoption and thereby makes it a key part of life.
Benefits for Consumers
Convenience
The multi-service app offers diverse services including ordering food, bill payments, shopping, messaging, and hailing a ride among others. This unified and seamless structure of the app eliminates the requirement to switch between multiple apps which in return save time and provide convenience.
Accessibility
Multi-service apps play an important role in democratizing the access of crucial services to the user. People living in remote areas or people lacking bank accounts can use these platforms for accessing financial services including loan and insurance.
Cost Savings
Multi-service apps or super apps offer competitive pricing to the users along with loyalty programs and customized services which in turn helps with cost saving. Further, the large volume of transactions allows for more cost effective and personalized offerings.
Simplified Payments and Tailored Experiences
The super apps can use aggregated user data to provide personalized recommendations and services by implementing AI and machine learning. Also, the integration of wallets and payments gateways in multi-service apps streamline transactions.
Challenges and the Road Ahead
The growth trajectory of multi-service apps market in developing economies is witnessing an upward trend. However, the companies have to navigate a variety of hurdles including data security and privacy, regulatory, and technical complexity among others. One of the major challenges faced by multi-service apps in developing nations is navigating the complex and continuously evolving regulatory landscape. Further, the vast amount of personal and financial data collected by the app companies is the main target for cyberattacks, which turns out to be another major hurdle for the companies. Moreover, addressing these hurdles is important for companies to remain competitive in the market.
Conclusion
Overall, the future of multi-service apps in emerging nations is incredibly good driven by growing penetration of smartphones and high speed internet. Further, technological advancement in cloud computing, artificial intelligence chipset, IoT and machine learning are driving the app development market. Furthermore, accessibility, convenience, and cost effectiveness offered by multi-service apps play a huge role in driving the demand for such apps.