Where The Next Generation Of Super Apps Will Be Built

What happened

Where The Next Generation Of Super Apps Will Be Built, according to Crunchbase News. The next generation of super apps will likely emerge in markets where widespread mobile access, weak competition, poor financial services and crises that erode trust in banks create demand for a single trusted platform, writes guest author Nnamdi Okike, co-founder and managing partner of 645 Ventures. Over the past decade, Tosin and his team built Moniepoint into the operating system for more than 6 million Nigerian businesses, processing over $300 billion a year , or 39% of Nigeria’s digital payments volume and 8 out of every 10 in-person payments .

Sea Limited , Grab , Kaspi , Yassir , Nubank 1 — these are companies most Americans have never heard of, despite them being worth several tens or hundreds of billions, following the trail blazed by Tencent , Alibaba and MercadoLibre . These are super apps that bundle banking, commerce, ride-hailing and bill pay into one trusted application.

The idea never took hold in the U.S. for one reason: trust is cheap here.