#MarketAdoptionStrategy | 1 | When one image took over the market by storm

Crazy what just one image could do! No one ever imagined the UPI would take the economy by storm. I remember when I leaned towards using QR code as the primary core of an app several years ago and the client thought I was out of my mind to use an image to do crucial operations in the app. But now it's UPI. One QR code is enough to run your business. No more complicated credit card machines, notebooks and pens, and all that. And how come those multinational banks, who always had our monies, never thought of coming up with something like this?? Why did this happen?

ATTEMPTED CAPTIVITY

Banks always thought they had the money and so they could keep a hold on every transaction the customer had to do with 'their own' money. After all, it is the customer's money and they have to have it at their beck and call, isn't it?

FRILL'IFYING STUFF

If I had to use my bank account, I need to have an ATM card or a cheque book or something 'extra' that I had to carry with me. Making the customer do something 'extra' to get their job done will almost always eventually result in the birth of an alternate 'no frills' approach.

THIRST FOR FREEDOM

After all, it's MY money. I should be able to freely take it and use it when I want it. And so that was a very natural evolution where the market flow was directed towards.

Deeper into this in the upcoming posts.

#marketing #adoptionstrategy #upi