Monday, February 26, 2024

Paytm’s Vijay Shekhar Sharma calls for users’ suggestions for app upgrades, shares new features. How netizens reacted

Vijay Shekhar Sharma, CEO and founder of Paytm, while sharing his to-do list ahead of the New Year, called out for suggestions from users for the fintech app. The Paytm app will have increased AI-based customer support.

The CEO shared that they have changed the Paytm app’s Home Screen. Paytm Payments Bank and other group entities’ offerings are clearly separated now, giving a cleaner look to the app.

“Making my to-do list for 2024. What would you like to change/ upgrade in the Paytm app ? We have changed the new Paytm app’s Home Screen. Paytm Payments Bank and Other group entities’ offerings are clearly separated now. Makes it a cleaner view. Expanding AI-led customer care. Personalisation using AI is the way. Tell me your wishes, and it will be our command! Merry Christmas, and Here is wishing all Paytmers a very Happy New Year,” Sharma said in a post on social media platform X.

Responding to Sharma’s post, Anurag Verma, Director of Product at Makemytrip, shared his suggestions on the social media post X.

The recommendations made by Verma were:-

1. Make the sizes of the icons slightly larger and reduce the number of different background shades – this will give the feel of a much more clearer UI.

2. Mimic the natural progression of the user while stacking cards – eg if the typical user journey is the user first starts with payments, then expands to utility bills and then travel and movie tickets – stack those cards first. While I understand the need to stack loans on top of ticketing cards (more strategic maybe) – a loan is a one-off need for the user vs ticketing or other products.

3. Turn on/off/stack sections based on user information, eg. if I know the user’s credit score is 800+, most likely he/she is financially savvy and probably wouldn’t take a personal loan but would be more interested in insurance products.

4. Given the MAUs/DAUs of Paytm, Paytm can drive a lot better monetization from ads by offering a discover feed with video stories/ads for which it can charge hefty CPMs.

5. Focus on user-friendly copies – e.g. ONDC in thebottom bar would probably not be clear to the most audience. The shop would probably be a much more user-friendly copy.

6. Given so many SKUs on PayTM, investing in a loyalty program can work well for locking in users. It should not be a paid program to solve for scale but should be a program that rewards users based on the gross booking value of products that the user purchases/transacts on PayTM.

7. On every product landing page, set some context on the reach and scale of PayTM eg on the d2H recharge landing page, something like 5 million customers have recharged their d2H via us.

8. Recurring payment flow for products like bills, e.g. when the user makes their first electricity bill payment, ask the user to set up a recurring payment for bills in future, and take any necessary permissions if required.

9. Try to drive the discovery of new products/SKUs via temporary surfaces such as modals/bottomsheets. It can give good CTRs and discovery.

10. Card for Recently used/interacted Products on the home page

A user wrote on X, “I just want an option where I directly open the scanner. I’m aware about the long press option but something which is just simple.”

“I’m stuck on the screen permanently. Tried updating the app but still the same issue. Unable to make any payments. It’s been a month now,” said another.

Earlier Mint reported that Paytm recalibrated the lending portfolio was a pre-emptive measure taken in consultation with the partners, according to a global research firm Macquarie.

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