A new UPI payment app has surfaced on the google play store. It is named as KhaaliJeb. Although India is having a lot of apps already with UPI facilities like Bhim UPI, Paytm, Google Pay and many more it would be interesting to find out how the creators of the app seem to find a place in this competing environment.
The founders of the app seem to have made a really good plan on how to earn trust of its customers and here’s what they have to say about it: Prakash Kumar, one of KhaaliJeb’s founders told Gadgets 360, said: “UPI is still at a nascent stage and India is a humongous market with diverse demographics… Apps are currently competing over cashbacks. The real competition will be over parameters like product, use cases, payment experience etc.”
Currently the app KhaaliJeb is a vanilla app having a single banking partner Kotak Mahindra Bank and has been approved by the NPCI( National Payments Council of India). It can only perform the function of receiving and sending payments. It doesn’t provide cashback. Their main target audiences are children who they want to attract by providing cashbacks on amazon and flipkart which no other sites provide.
The company plans to unveil two features to differentiate it from the crowd. KhaaliJeb has a student loyalty program on its roadmap that will allow users to get discounts from merchants they frequently trade with. The second feature is one that allows people to track expenses and settle bills by splitting payments. Both these features are listed on the google play store and their site as well!!
If you go to the play store you will find that the app has really good reviews and people are giving their own opinions too regarding the app. Noone is saying that their payment wasn’t done etc bad news. Thus, the app certainly seems like it is born to compete.
The founders have reported that their target is 500000 downloads in the first year. Let’s see if they achive it or not!
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