My blog on Jupiter philosophy of monetisation/Rewards

Here is the medium link which explains my thoughts. Good product needs to clock revenues to become great! | by Jitendra Gupta | Jun, 2022 | Medium


@Jiten Sir are you planning to do like telegram where current free products will always be free and charges for new products and services?

I am just a common customer so i dont really know about revenue models and stuff. In simple language what would be the revenue method of jupiter :sweat_smile:

Rewards were nice but i joined jupiter because of no hidden charges, fewer limitations and better support.
Rewards doesnt affect me much.


good thoughts but who is to be blamed for this “rewards” culture? any new app would need a user base to move to next level. rewards are offered to attract customers. they’re going to move on as soon as someone offers better rewards unless product provides something which isn’t available in market and customer values it. I think has a lot to work on its product especially basic features which are still missing after a year or so. I suppose you know what I mean.


True. We will not charge for basic product which has zero balance account, good support, no mis-selling and no hidden fees.


Thats good to hear :heavy_heart_exclamation:. Thnx

Well said, @Jiten. No company can incessantly burn money for long to entertain the crowd. Especially during the turbulent times.

Quality and thoughtful products deserve premium offering to help stay afloat and survive :100: #MonzoModel


Happy to see Jupiter not ratting my data out to advertisers. We do need viable monetisation efforts, and it’s good to move away from rewards as entitlement.

Makes me curious though, does it imply we are killing the cash back feature? Both UpI and debit? That’ll require a lot of effort to replace considering it was the easiest draw to Jupiter so far.


No. We are not killing but relooking at who should be getting it and what should be expected cohort to get rewards . So , negative riders won’t get it for sure.


@Jiten I completely agree with you

@Arjun_Salyan It was a good reply. But u deleted it :smiling_face_with_tear:


By mistake I clicked twice on the three dots next to the reply. The first click expanded the options, and the delete bin appeared right at the place of three dots.

And just like that the post was gone :smiling_face_with_tear:. Too lazy to type it again.

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@Arjun_Salyan click three dots again and you can find an undo icon or click that pencil icon above the post copy from there and repost

It’s very cool that our data is safe and not being sold to advertisers. I have been looking for that in a bank a while since moving back to India and couldn’t find it. Makes me more confident to move rest of my banking to Jupiter.

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As a product, Jupiter is hands on one of the best. The features it gives is definitely worth it and that is why despite being on firstlist and not getting onboarded onto Jupiter until late March,2022 i am still using it.

However, in purely my opinion, the way forward should be reducing cashbacks timely and not instantly as the referral system was revamped recently and all people who have referred/ onboarded is for rewards. If this is removed, they’ll never understand what a great product Jupiter is.


The article is fairly positive to look at. And by no means I am an expert on things. Have been simply observing a lot around. But embracing a level of open communication in a community would be appreciated.

From a purely logical standpoint, in the 2020 boom, when startups have been raising wild money to expand their startup, Jupiter leaned towards the usual route of boasting numbers, like every other startup by offering heavy rewards to its users. The majority people who signed up for the service initially have been “reward hungry”.

“So, we decided to go other way at the cost of irating few consumers who are just rewards/discounts hungry.”
How can a consumer be labelled as reward hungry when the acquisition strategy has mostly been hacking a consumer’s reward hungry mindset? How does that lead to a “few” customers being left out? How would Jupiter pose to solve a “greater problem” when it has relied on the generic route of marketing to boast its numbers?
I have observed fairly inflated ratings of Jupiter on play store and app store, considering the product is still not matured. (And keeping it against some of the other startups who have had a mindful growth eg - Dhan by Raise Financial Services the ratings are not inflated, features have been shipped at a decent pace, as per my observations)

The problem with raising money is the constant pressure to boast growth. But how much of it can be considered a mindful growth?
How can the community be given the assurance that the reducing in rewards is not an after effect of recent crackdown on startups, bleeding mad money, due to markets?


The observation is fairly balanced and very much truthful to the fintech mess we are in due to recent crackdown.
Btw I would like to know more about dhan by raise financial which you talked about in your post.
@Divyaansh_Agarwal on the basis of your keen observation what would you suggest or do if you were one of the Fintech’s CEO?

I don’t use the services. But their team have been shipping really good features at reasonable timelines. You can have a look.

At the start of the post, I made it very clear that I’m no expert on things. Things like growth, financials, meeting targets is something I don’t have a technical know-how of.
But if I were a fintech CEO (feel free to roast me for it lol), I would try to bring down “brand partnerships” as low as possible. All those banners, “use our Card at X to get Y percent off” ads all over the UI.
I get it that brand partnerships might be a good source of revenue for fintech firms. But that subconsciously creates an unnecessary pressure on the consumer to sign up for an app or service he/she isn’t comfortable with, just for the sake of discounts.
Jupiter might keep your data safe, but what about an XYZ brand who tied up with Jupiter for in-app ads and got involved in selling data. Will Jupiter claim responsibility for it?

The reward mindset will stay as long as there remains catalysts that provoke us to use a service for sake of “something extra”.

The idea of curated rewards is a mess. The idea should be to have generalised rewards that can be used by a consumer specifically to his liking. That way, the curation happens at the end of the consumer, not the fintech company. Consumer wins.

If Jupiter wants to position itself as an app for greater good/financial wellness, it needs to build more self sufficient products that rely on their user base for earnings (% commission or subscription model) rather than brand tie ups that would eventually hijack your brain until no financial wellness is ensured.

But to build such a product in India :face_with_spiral_eyes:


MAB is here if you need rewards :stuck_out_tongue_winking_eye:

As i said, we never allow cross sell on data. Offer is displayed for your consumption . You choose if you want offer . No data is being passed to anyone


Tell me this is for the Pro salary accounts only and not for the basic accounts!? :eyes:

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