Tata Neu App Launch Highlights: Will Launch Buy Now Pay Later, Says Chandrasekaran
Tata Group launches Neu, that will allow consumers to buy grocery and air tickets to taking a loan on a single platform.
![<div class="paragraphs"><p>Tata Group Chairman N Chandrasekaran [Source:BloombergQuint]</p></div>](https://media.assettype.com/bloombergquint%2F2022-04%2F4b8f54f2-b656-4004-ae1c-bc2d3a6cf302%2FWhatsApp_Image_2022_04_14_at_5_06_33_PM.jpeg?rect=0%2C0%2C1280%2C720&auto=format%2Ccompress&fmt=avif&mode=crop&ar=16%3A9&q=60)
Watch Live: The Launch Of Tata Neu App
Tata Neu App Took Two Years To Build
The project took up two-years and the company is calibrating it. There was no delay, Chandrasekaran said.
"Any consumer platform has to be build with inputs from consumer. We are looking forward to feedback and criticism," he said.
The app now has 2.2 million downloads, according to Tata Digital CEO Pratik Pal.
NeuPass Is Bigger Than A Rewards Program
NeuPass, Chandrasekaran said, is the one-stop hook for all purchases.
"NeuPass is bigger than a rewards program. We have a strong omnichannel footprint and NeuPass is universally applicable across all our verticals. We believe NeuPass will be the core asset that will attract customers," he said.
We Will Launch Buy Now Pay Later, Says Chandrasekaran
"We are not in the GMV multiple game. GMV should bring in cashflows. Every business needs to have cashflow plan. We have just begun," says Chandrasekaran.
"We will be launching Buy Now Pay Later. I am told if we need to get millennial we need BNPL."
App Will Open To Brands Outside Tata Group Brands
Tata Neu app, which houses major Tata Group brands, will be open to brands outside of the group.
"The company will launch a new category every quarter based on the consumer demand," said Pal. "We have a roadmap towards building new categories and in that journey if we need to onboard new brand."
Aim To Become A Profitable Business
Our aim is to become a profitable business, said Pal.
"We expect nearly 50% of the customers moving from single app to super app," said Mukesh Bansal, President, Tata Digital.
Evolution Of App Will Be Customer-Driven, Not Contracts
"We will go beyond Tata offerings but the evolution of the Tata Neu app will be customer-driven, it will be determined by consumers and not contracts," said N. Chandrasekaran.
