Nedbank is adding more features to Avo as the super app enters gets an upgrade in its third year.
The super app, which launched in 2020 during the lockdown, continues to expand with a seemingly never-ending list of offerings. It’s a lot…and they plan to add even more stuff to it in an effort to get you whatever you want on the super app. Basically, Avo is gradually becoming Africa’s very own Alibaba.
Big brands now available on Avo include Apple, and Samsung may soon follow. If all works out, Avo will become a Samsung authorised reseller.
Read More: Why super apps are the way of the future, with Nedbank’s Vishal Maharaj and Moya.app’s Gour Lentell
Back to business
In its pursuit of a share of every market, Nedbank has added Avo B2B, a business-to-business feature on Avo 3.0. This is basically a hookup spot for businesses. With Avo as the middleman, businesses can buy and sell products with an option to negotiate prices using the request for quote (RFQ) feature and the chat functionality.
“Furthermore, the seller can list their products with bulk pricing,” says Nedbank.
Being a bank, Nedbank plans to use its expertise to verify businesses and facilitate payments. This ensures businesses get paid.
For a business selling a product, a buyer can pay for the product and Nedbank will hold onto the money until the product is delivered.
For Avo, the bank partnered with Amex for a credit facility offered to businesses in need of credit to buy products. You won’t be able to use this credit card for any other purchases that are not business related.
Nedbank’s stock financing facility sits on an American Express procurement card, a closed loop accepted only on Avo B2B.
Nedbank says it plans to expand its B2B features to businesses that provide services in 2023. For now, it’s product-based.
Read More: The rise of the Super App and why most of them are doomed
The bank also wants a bigger piece of the growing auto and spares market across Africa. In addition to being able to buy everything from takeaways to cars, Avo Auto plans to add a ‘Park-and-Sell’ feature which will let place your car on the platform and let buyers bid for it.
“Park-and-Sell is in the proof of concept phase and will only be available to MFC clients during this phase. In future, anyone seller will be allowed to list a vehicle for sale on the site,” says Nedbank.
On a lighter note – Avo 3.0 has Stories similar to Facebook Stories and WhatsApp Status. That’s fairly unusual for a bank. Nedbank plans to send users a mixed bag of content on Avo stories. Expect baking recipe videos followed by an ad on where to get the ingredients, that sort of thing.
The Global Cart function on Avo lets users buy takeaways from different restaurants and then pay for them with a single checkout and payment. Everyone needn’t eat from the same restaurant just to avoid placing multiple delivery orders from different restaurants. The feature includes also includes groceries, liquor, and tech products.
And no, you don’t need to be a Nedbank client to use Avo, but being a client will get you better deals on the platform.
