Edit : Read Jiten’s medium post and it would seem like this is already the case, which super awesome and makes me happy that I chose Jupiter Leaving the comment up in case anyone else has similar thoughts.
I don’t mind the idea of membership plans, especially as it will help me more directly support the product that I like and would like to see where it goes.
I think along with other benefits you have mentioned maybe membership plans come with enhanced privacy etc ? Cause when we aren’t paying I understand that we are also the product etc, but if we ARE paying, that should not be the case ?
Hi @nishesh, I’d imagine data security and privacy to be hygiene for all users. Do you have anything specific in mind in terms of data privacy within a membership plan?
As I said when I read Jiten’s latest post, I realised the privacy basics I was looking for are already covered. I was just looking for an option where my data wouldn’t be sold to 3rd parties for monetisation, my phone number is not sold off and I get get a ton of spam etc, all of this seems
to be already in place
If Jupiter can offer seamless Wealth Management, i.e. Investments Advice or easy access, Life Insurance, Family Planning etc, I’m willing to pay a membership fee for this. Also I think of Jupiter as my financial control center ever since I started using AA!
Member ship plan should be like this
Monthly reward system should be :-2000- 5000 basic balance for rewards
For ott -10,000-15,000 for all Netflix and others .
This makes sense. Banks earn from deposits, and interest charged (mostly). With the lack of physical branches, that saves a ton of cash for neobanks, so subscriptions plan with bare minimum perks make no sense.
If Jupiter wants me to pay, those perks better be mouth-watery. Starting with fine tuning our membership rewards… oh n speeding up the app (it’s lord awfully slow n crawls like a snail).
Hello fellows, just landed on Jupiter a few week ago.
Actually I migrated from Fi app, there was a lot of issues with their app and their customer service was degrading and they were not launching UPI feature on their app which they promised but instead they launched half baked account aggregator feature which fetches all your accounts from other banks, but even with that I was unable add my main bank’s account and you cant transfer money with that.
I think monthy or annual memberships are not going to be as effective as milestone benefits and two digit discount on top merchants and nobody likes to pay for monthy or annual memberships, people hate them. For example, introduce a benefit like spend 3000 or any other amount in month or quarter and get this membership, consider spend 3000 this month and get free Youtube Premium, Amazon Prime etc membership or get 10% discount once or twice a month on Zomato, Amazon, Flipkart etc. The another way will be to give the user discount on his top spending category, like if a user spends most on Amazon, give amazon cashback or discount coupons and if a user spends most on Zomato, give zomato cashback or Zomato coupons.
Yep, I can behind this. Milestone rewards sound much better. You get users to spend more, implies more activity on the app.
If they stay more in the app, they can use more services. Implies more avenues to mint money off us.
In all honesty, I’m not on-board with the idea of making a financial product as fundamental as a savings account a membership-based one. Just does not sits right with me, regardless of whether the benefits are added on paid tiers or removed from the current available options and added to a paid tier.
Leaving the comment up in case anyone else has similar thoughts.