Walmart’s fintech aspiration is a lot bigger than just creating a digital bank—it’s creating a true digital ecosystem in the form of a super app.
Karen Webster wrote this about the “supercenter:” “When Walmart reported its Q4 2020 earnings, CEO Doug McMillon described a very different ‘super’ concept at the center of Walmart’s future: the ‘super app.’ He may not have used those two words, but the Connect concept is the super app notion to a tee.”
Walmart’s super app opportunity is a lot bigger than just integrating and digitizing its financial services business or deploying its Connect concept, which will be a self-service advertising platform for Walmart partners to manage digital ad campaigns.
The super app opportunity includes integrating Walmart’s: 1) Shopify marketplace; 2) Connect ad platform; 3) health centers; 4) existing investments in eCommerce, logistics, supply chain, and inventory management; and 5) other product and services not currently affiliated with Walmart.
What do you think about Walmart’s move? Recently, PayPal also started to move in the same direction.