TOTL's Vibrant Rebrand Takes Fintech to New Heights
The homegrown cashback rewards platform Znap has officially rebranded itself as TOTL, unveiling a new visual identity and service delivery transformation strategy. This marks an important moment in TOTL's corporate journey, reinforcing its commitment to delivering fintech solutions tailored to the needs of consumers and partners in the region.
The rebranding encompasses a logo refresh, featuring vibrant colours such as green, symbolising growth, health, and tranquility, and purple, representing creativity, luxury, and wisdom. These elements aim to evoke emotions and establish a strong brand association, particularly in the realm of contactless payments. The transition from Znap to TOTL, pronounced as Total, aims to streamline brand recall among consumers while focusing on providing solutions that foster community connections and enhance lives.
Uday Rathod, the CEO and Co-Founder of TOTL, explained that the innovative approach of TOTL, representing payments with Value back (cashback), transforms the cashback process into a seamless experience for both customers and local businesses. The goal is to offer consumers tangible value for every spent Dirham, creating a mutually beneficial scenario for businesses and customers alike.
Despite the competitive landscape, TOTL has achieved significant growth in the region. From 2021 onwards, the platform has witnessed a surge in transactions, exceeding 100 times, attributed to increased cashback utilisation. With a customer return rate surpassing 83 percent, TOTL has demonstrated notable progress.
The cashback rewards industry has become a key component of business growth strategies in the UAE and the broader region. According to research firm Statista, the global cashback industry is projected to exceed US$200 billion annually by 2024, with participating retailers experiencing revenue growth up to two and a half times faster than non-participants. In the UAE, the adoption of loyalty programs, including cashback and rewards, is on the rise, with the market expected to grow by over 12 percent annually to reach US$1,423.7 million in 2023.
Prior to the rebrand, Znap had established partnerships with over 600 businesses. With the new brand identity, TOTL aims to expand aggressively into untapped markets, including Abu Dhabi, Ajman, and Ras Al Khaimah. The focus is on diversifying into different categories such as food and beverages, beauty and wellness, optical, floral stores, pet care, and more, further solidifying its position in the evolving landscape of cashback rewards and loyalty programs.
