Nedbank’s Avo super app continues to attract customers and businesses as it competes with Vodacom’s VodaPay app.
Nedbank announced today that Avo has added 500 000 new customers in the past six months to end-June 2022 pushing its total users to 1.5 million.
Since its launch in app stores on 19 June 2020, Avo has over 24 000 businesses registered and offering their products and services on this e-commerce platform, up by 37% year-on-year.
Avo is a one-stop super app enabling clients to buy essential products and services online and have them delivered to their home, with seamless secure payments and credit enabled by the Avo digital wallet and Nedbank.
Nedbank informed investor on Wednesday that Avo now has access to over 10 000 drivers on its delivery fleet nationwide as product orders continue to grow exponentially, with a ninefold yoy increase in gross merchandise value (GMV).
Avo Auto, a virtual vehicle mall that was launched in August 2021, now hosts over 140 MFC-accredited dealers, with more than 6 000 vehicles available on the platform.
In April 2022, Nedbank launched Avo B2B Marketplace, making it easier for business buyers and sellers to connect, anywhere, anytime, on a secure platform.
“Avo continues to increase its number of partners to drive scale,” said Nedbank.
“Our newest partnerships with Apple, Dell and Uber Direct highlight the increasing appeal of Avo as a destination marketplace to assist global brands and manufacturers in realising their growth aspirations.”
Apple, in the first month of being live, was already the second-highest grossing reseller by value on the app, said the banking group.
“The marketplace intends to become the destination for consumers and businesses looking to acquire Apple devices through convenient embedded finance options. The launch of Avo in our first Nedbank Africa Region subsidiary is currently being planned.”
Also read: Vodacom’s Super App VodaPay Adds 300 000 New Users
Vodacom announced today that its Super App, VodaPay, has added 300 000 new users in the quarter ended 30 June 2022.
The VodaPay super app is available for download from Apple and Android app stores.
VodaPay delivers a digital shopping, lifestyle and financial platform for consumers and businesses.
“The rapid adoption rate of our VodaPay super-app in South Africa remains encouraging with 2.8 million downloads and 1.9 million registered users by quarter end,” said Shameel Joosub, Vodacom Group CEO.
1 Comment
It’s great to see how Nedbank’s Avo Super App is evolving! The integration of services for users and businesses is impressive, and it really reflects the future of banking. I’m curious to see what new features will be added next!