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Vishnu kumaran

Stealth • 9d

Why does capturing the market matter more than anything? Let's take UPI as an example. While other UPI apps took time to build an excellent, cutting-edge product, Google Pay and PhonePe started by releasing their MVP first and later improved their apps with regular feedback. What happened then? Now, PhonePe and Google Pay hold the largest market share in UPI. Is it true? I made a UPI app in my hometown. When I asked merchants 'Do you have UPI?', they replied, 'We have PhonePe and Google Pay.' Seems obvious that people are more familiar with those brand names. Another incident is when I tried to pay through super.money and showed them the payment proof. They were confused. I asked what happened and then came to know that the shopkeeper was familiar with Google Pay and PhonePe's payment proof UI. Then I clarified it with them. So, if you are a founder of a startup in a competitive market, make sure you roll out your MVP to capture the market. You can always iterate with feedback.

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I was a user of Google Pay and Paytm but once I started using Phonepe, nothing else was good enough.

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