Tata Group to launch new TataNeu mega app on April 7

Tata Group, an Indian conglomerate, announced that its long-awaited mega app, TataNeu, would be released to the public on April 7.

TataNeu is the salt-to-software giant's attempt to compete with rivals like Amazon and Mukesh Ambani, local billionaire's Jio Platforms, which have scaled to new heights in the last decade while Tata concentrated on legacy businesses.

The app brings together several Tata Group businesses, such as online grocer BigBasket and e-pharmacy platform 1Mg, acquired recently. Users will be able to send money, pay broadband, energy, water, and satellite TV bills, and get loans using TataNeu.

Customers would be enticed sufficiently by Tata's one-stop-shop offering and perks to make the risky transfer. Tata plans to reimburse them with NeuCoins, equivalent to one Indian rupee.

According to TechCrunch, the company testing TataNeu with tens of thousands of its employees for several quarters plans to phase out various group unit loyalty products from BigBasket, 1mg, and other businesses and replace them with NeuCoins.

Tata Group is focusing on incentives as part of its effort to create a connective layer for its services, spanning a wide variety of sectors.

If successful, the 155-year-old giant would be in a position to develop the country's largest loyalty programme.

To fund its new digital ambitions, the company has engaged with many investors, including SoftBank.

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