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Zip made extensive cost cuts last year to stay afloat, including exiting markets and closing its money management app. BNPL providers will make two changes as the industry transitions to 鈥淏NPL 2.0鈥�:. Leading BNPL providers will try to build super apps. They are leaning into non-BNPL services, including rewards programs, physical cards, noninstallment payment options, and price trackers.

Wallet providers will lean into the super app model to further entrench younger users. Adding payment features and adjacencies that appeal to Gen Z鈥攍ike Apple鈥檚 BNPL service and support for student IDs鈥攚ill be the ticket to reaching holdouts and cementing relationships. To view the full forecast, click here. Gen Zers are driving the BNPL surge but will need a push to boost in-store usage.

So if you think about someone who's opening up their banking app, what are they there to do? It's going to look really different than someone that's opening their Amazon or their Walmart app, in terms of the purchase mindset they're going to be in and even their receptiveness to being advertised to. Arielle Feger (08:48):. Yeah.

Why don't you both tell me who will make the first super-apps? I'm putting you on the spot here. Jaime, who's going to make the first super-app that's adopted in the US? Jaime Toplin:. So I think Western super-apps are going to look a little bit different just because of the way that we use mobile technology than those in China.

That's basically, I mean I think that the whole entire idea with this is yeah, you want to have one major super app rather than representing a whole bunch of different brands. It doesn't make it really as much sense. Uber has done this in the past with certain other things such as Corner Shop for instance, which is another. Sara Lebow:. I don't remember Corner Shop. Jeremy Goldman:.

On today鈥檚 episode of The Banking & Payments Show podcast, we discuss the most important banking trends that we expect to see in 2024. We examine the big headlines from our Banking Trends to Watch in 2024 report, such as risky banking as a service partnerships, the social media players pushing the boundaries of banking, the disruption caused by AI and new developments with digital wallets. In a new segment called "Place Your Bets," using a total of 10 points, we allocate points to different trends to predict their likelihood of coming true. Listen to the conversation with guest host Marcus Johnson and our analysts Tiffani Montez and David Morris.

Well, I will tell you, speaking of easier, I think it's the app, but I think the most important thing I would encourage retailers to think about is how do you make it super easy for your customer, your shopper? How do you make sure that they can benefit from your reward program with little effort?

Ethan mentioned when you're on your bank like a banking app, maybe you're in a financial services mode at that time, but how long is it going to last? I could see a lot of complexity and potential inaccuracies about determining whether you're in that mode or not. And that's not even taking into consideration the privacy implications.