Mastering the Game o... • 11m
Competition and Market Research: While you believe there are no direct competitors, it’s essential to explore related spaces: Existing payment apps (like Paytm, PhonePe, or Google Pay) could indirectly compete if they expand their services to include micro-lending or savings features. Microfinance Institutions (MFIs): These institutions serve similar purposes but often focus on larger loans. However, they might adapt to cater to smaller groups. Keep an eye on government-led financial inclusion programs. They might introduce similar solutions. Investigate community apps or platforms that address financial needs. They might not directly compete but could offer insights. Prioritize user experience. Make the app simple, intuitive, and accessible even for non-tech-savvy users. Conduct workshops or awareness campaigns to educate potential users about the benefits of the digital platform. Start with a small group to test the platform, gather feedback, and refine it before scaling up.
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