How Super.money is democratising access to credit for all

In an increasingly crowded fintech market, Super.money has set out to redefine how consumers experience digital payments and rewards. Their unique credit-first UPI service platform aims to address key pain points in traditional rewards systems, such as lackluster scratchcards and delayed benefits, offering instead a direct, transparent approach with instant cashback. With over a million downloads and 10 million transactions within just two months of their beta launch, Super.money is rapidly gaining traction among users who value simplicity and immediate returns.

In this exclusive conversation with Adgully, Prakash Sikaria, Founder & CEO, Super.money, sheds light on the creative inspiration behind their first-ever digital ad campaign featuring the quirky ‘Goat man’ character, which symbolizes the absurdity of overpromising and underdelivering. Sikaria delves into the consumer behaviour that inspired the ad, explaining how dissatisfaction with existing UPI rewards systems drove Super.money to offer something more straightforward and valuable – instant cashback. He also discusses Super.money’s future plans, including influencer campaigns, product innovations, and the brand’s mission to stand out in the fintech landscape.

What was the creative inspiration behind using the ‘Goat man’ in the digital ad film, and how does it align with the message you want to convey?

We wanted to create a memorable, quirky character that immediately captures attention and symbolizes the absurdity of overpromising and under delivering, which many consumers experience when dealing with other rewards systems.

Our AI influencer, SUMO taps into the frustrations people feel with traditional cashback programs offered by other UPI apps the ones that promise big but deliver next to nothing.

By using this quirky, relatable figure, we aim to drive home the message that with Super.money, what you see is what you get – no gimmicks, no disappointment, just real value. In the end, the ‘Goat man’ serves as a fun reminder of why Super.money stands out in a sea of confusing rewards programs.

What specific consumer behaviour or feedback motivated the focus on the dissatisfaction with current UPI app rewards?

The dissatisfaction with current UPI app rewards became a key focus for Super.money based on clear feedback from users during the beta phase of our app. When we launched the app a few months ago, we witnessed nearly a million downloads and over 10 million transactions in just two months, which gave us deep insights into consumer preferences and frustrations. One of the biggest takeaways was that users are increasingly tired of subpar, gamified rewards like scratch cards or points that don’t deliver real value.

We learned that consumers are looking for simplicity and transparency in their rewards. They want immediate, tangible benefits – like instant cashback – rather than the uncertainty of scratchcards or coupons that often leave them disappointed. This shift in consumer behaviour motivated us to highlight this very frustration in our first digital ad film.

Through this campaign, we didn’t want to just talk about our brand offerings, but to show that we genuinely understand what users are going through. People increasingly prefer real monetary rewards over abstract, delayed benefits. This insight was backed by the data we collected during the beta phase, where users expressed a clear preference for rewards that offered instant gratification, like guaranteed cashback on every transaction. We knew that addressing this pain point head-on would create an emotional connection with our audience and pave the way to introduce Super.money’s unique offerings.

Why do you think users prefer immediate cash back over less tangible rewards like scratchcards?

Cashback delivers a quick, tangible reward without any extra steps. First, there’s the appeal of instant gratification. People appreciate the certainty that comes with cashback because they know exactly what they’re getting – no guessing, no surprises. Scratchcards, on the other hand, can sometimes feel like a gamble, leaving users with the chance of a reward that might not meet their expectations.

Cashback also offers the flexibility to use it however and whenever they want. It’s real money, after all, and there’s no need to figure out how to redeem it or deal with any restrictions, which is often the case with scratchcard rewards. On top of that, cashback feels effortless. Users don’t have to do anything extra after their transaction. It’s immediate, with no hidden steps or hoops to jump through, unlike scratch cards that can involve waiting periods or having to use the redemption elsewhere.

Psychologically, cashback also feels like a guaranteed win every time, whereas scratchcards are a game of chance. Even if the prize from a scratchcard is there, it can sometimes feel underwhelming, especially compared to the straightforward value of cashback hitting your account. All in all, the simplicity, certainty, and instant usability of cashback make it a much more appealing choice for users.

Could you elaborate on the decision to launch an influencer-focused social campaign for distributing the ad? How do influencers enhance your brand’s reach?

We’re gearing up to amplify Super.money’s presence across digital platforms by strategically partnering with celebrities and influencers who genuinely connect with our target audience. In the first phase of our campaign, we’re excited to work with prominent figures like Hardik Pandya and Neha Kakkar, whose influence and massive following will allow us to engage users in a more interactive, relatable, and meaningful way. By tapping into their loyal fan base, we’re aiming to spark conversations and drive deeper connections with our audience, ensuring our message is delivered with both relevance and reach. The focus is on creating thoughtful collaborations where the content naturally resonates with users, making the brand message feel authentic and impactful.

In a competitive UPI and digital payment space, how does Super.money differentiate itself from other platforms?

Super.money is a credit-first UPI service platform designed to bridge the existing gaps in the digital financial landscape. By integrating credit options with UPI transactions, Super.money offers customers unparalleled flexibility and ease of use, making it easier than ever to manage their finances.

With the rapid adoption of digital payments in India, Super.money is strategically positioned to become a game-changer in the financial services sector. Our innovative approach not only streamlines transactions but also opens up new avenues for millions of Indians to benefit from the UPI ecosystem.

As we move forward, we are excited to expand our financial services ecosystem and democratize access to credit for all.

What made this the right moment to release Super.money’s first-ever digital ad film? How does it fit into your overall business strategy?

The timing made perfect sense for a number of reasons. First, we’ve just come off a highly successful beta phase, where we saw strong early adoption and a clear demand for our credit-first solution on UPI rails. In fact, we are at 1 million transactions per day as we speak. Our aim is to capitalize on this excitement and expand our reach through a compelling digital ad that not only builds brand awareness, but also amplifies the product’s core message in a memorable way.

From a business strategy perspective, this ad film aligns with our larger goal of scaling rapidly while reinforcing our brand identity in the market. Our product solves a real pain point by offering tangible, instant rewards – something we wanted to communicate clearly and creatively.

The digital ad film allows us to showcase our unique value proposition to a broader audience, particularly focusing on the younger, tech-savvy users who engage deeply with digital content. It’s also an opportunity to differentiate ourselves in a crowded market by emphasizing the fun, rewarding experience of using Super.money, compared to the often frustrating or underwhelming reward systems people are used to.

What upcoming campaigns or product innovations can we expect from Super.money to continue standing out in the fintech space?

In the coming months, Super.money plans to roll out a diverse array of financial products in collaboration with leading financial institutions, including fixed deposits and instant pre-approved personal loans. Our mission is to democratize access to financial services, aligning with the government’s vision for financial inclusion by fully leveraging the robust UPI infrastructure.

Super.money is transforming payment experiences by making them more social and engaging. Our innovative rewards programs, such as superDrop and Meme-Money, are crafted to boost user engagement and loyalty.

How do you plan to keep consumers engaged with Super.money’s offerings, and what steps are being taken to enhance customer loyalty?

Our aim is to offer the most rewarding experience for our users. That said, we’re implementing a series of exciting programs designed to not only reward users for their transactions, but also create a sense of anticipation and fun.

Users love tangible benefits, and we’re enhancing their experience by offering generous rewards of up to 5% cashback across all valid merchant transactions. This cashback model ensures users feel they are consistently gaining value while making their everyday transactions.

We also have in place a unique and engaging referral system with the ‘Gift a Friend’ feature, turning referrals into a fun, meme-sharing experience. Rather than the standard referral link, users can now share a meme through the app with friends, inviting them with a welcome monetary gift.

superDrop, a newly launched program, reimagines UPI payments as a mega raffle, giving users a chance to win flagship smartphones. Starting September 27, 2024, users can win these phones every hour while making UPI transactions via the Super.money app, from 10 am to 10 pm.

Are there plans to evolve the rewards structure on Super.money based on the insights from this campaign?

Yes, based on the insights from this campaign and the overwhelming feedback we’ve received from users, there are definitely plans to evolve the rewards structure on Super.money. One of the key learnings from both the beta phase and our recent ad campaign is that users crave simplicity and transparency in their rewards – immediate cashback, in particular, resonates strongly.

With that in mind, we’re focused on making the rewards experience even more engaging and valuable. While the current structure offers up to 5% cashback on every merchant transaction and special deals with partners like Flipkart and Myntra, we’re exploring ways to expand these offerings to include more platforms.

We’re also continuously monitoring user behaviour to refine and tailor rewards further.

Where do you see the digital payments landscape heading in the next few years, and how does Super.money plan to stay ahead of these trends?

The digital payments landscape is evolving rapidly, and over the next few years, we expect to see even more integration of technology, personalization, and accessibility. One significant trend is the rise of embedded finance, where financial services are seamlessly integrated into everyday platforms, making payments more frictionless and invisible. Additionally, as AI and data analytics continue to mature, tailored experiences will become the norm, from personalized rewards to customized credit options that fit their specific needs.

At Super.money, we’re doubling down on user-centric innovation. We’re continually improving our platform to make it even easier to use and more intuitive – something that’s evident through our uncluttered user interface. Our focus on real cashback rewards and a credit-first approach on UPI rails is already ahead of the curve, and we’ll keep refining this offering to meet shifting consumer expectations.

Our goal is to better understand our users and anticipate their financial needs, so they feel Super.money is not just another app, but a financial partner that truly understands and rewards them in meaningful ways.

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