Paytm has redesigned the entire product from the ground up in line with its vision to become a super app. The redesigned app is clutter-free, organized, customer-centric and has integrated payment methods.
The app experience has been customized for different user segments based on their current customer journey.
Payments, Bank Transfer, Recharge/Pay Bills section has been segregated helping users to carry out the required task quicker.
Apart from standard payment options like wallet, bank account, credit card users can now make payments from their FD account in Paytm Payments bank without breaking the FD.
PaytmHealth - Allows the user to create a Health ID, first towards digitizing the health infrastructure. This could open up a lot of opportunities in the digital health record space and health insurance claim process.
DigiLocker - Allows the user to access 1000+ government documents from their Digilocker account.
Bank on Fi - Customer Engagement
Bank on Fi, a neo bank platform allows users to open a zero balance digital savings account, make UPI payments and bank transfers. Apart from various discounts, Bank on Fi is working on improving customer engagement through other strategies.
To invite friends, Fi nudge users to maintain an average balance of Rs.2000 for 10 days. Though this adds a lot of friction to organic growth, Fi aims to onboard users who will use the product for a longer time than just getting onboarded for referral rewards.
Apart from traditional fixed deposits, Fi allows users to save money for their future needs via smart deposits which provide higher interest rates.
Fi has deposit templates with higher interest rates than savings accounts based on the goal in which the user can choose and start investing in. It also allows user to create their jar with customized investment amounts and duration.
Fi increases user engagement by allowing them to create trigger-based rules to increase their savings in smart deposits other than recurring investments. For instance, users can create a rule to invest round up spare change into smart deposit every time they purchase Amazon.
Users are rewarded with Fi Coins for all the financial activities in the app. Fi coins can be used to make a purchase from the listed products in the app from multiple brands across food, travel, OTT and personal care.
How Twitter is taking over social media and creator economy
In last one year, Twitter has rolled out a lot of user-centric features which increases the user engagement in the platform and also helps creators to monetize their social media content.
Spaces: Twitter has introduced Spaces, a live audio conversation feature similar to Clubhouse rooms. Relevant Spaces discovery was easy, unlike Clubhouse, since the users already have their followers on Twitter. Apart from discovery, Twitter also rolled out features to make Spaces more engaged such as allowing users to send an emotion acknowledging the speaker, record the Spaces and also discover more people to follow in their area of interest.
Ticketed Spaces: Twitter is running a beta test that allows the host to sell tickets for their Spaces. This helps creators to earn for their content while the listeners get exclusive access to the content they like.
Communities: Alternate timeline where you find only people and feed matching your interest.
Super Follows: Allows people to earn monthly revenue by sharing subscriber-only content with their super followers.