Treasure Global Announces 113.5% Growth in Transactions for TAZTE, its Innovative Digital F&B Management System
Treasure Global has announced a 113.5% increase in transactions for TAZTE, its innovative digital food and beverage management system. The total number of transactions reached 7,540, and the number of monthly transacted users rose by 55% to 3,752. This significant growth was achieved without any additional marketing funds.
The market for mobile POS payments in Malaysia is projected to reach $4.73 billion by the end of 2024 and $10.04 billion by 2028, presenting substantial growth potential for TAZTE. The company has extended the complimentary trial period for TAZTE until June 2024, allowing for further development and user feedback.
TAZTE has also introduced new features, including automated order acceptance and error troubleshooting, aimed at optimizing operations and increasing revenue for merchants. The system integrates with Treasure Global’s ZCITY app, leveraging a user base of over 2.6 million to provide valuable customer insights and enhance profitability.
Treasurer Global aims to revolutionize the F&B industry in Malaysia, driving operational efficiencies and boosting profitability for its merchant partners.
- 113.5% increase in TAZTE transactions, reaching 7,540.
- 55% rise in monthly transacted users, now totaling 3,752.
- Market for mobile POS payments in Malaysia projected to grow to $10.04 billion by 2028.
- Extended trial period for TAZTE until June 2024.
- Introduction of new features to optimize operations and increase revenue.
- Integration with ZCITY app, leveraging over 2.6 million users.
- TAZTE aims to enhance operational efficiencies and profitability for merchants.
- Lack of additional marketing funds could limit further growth.
- Dependence on the Malaysian market, which may present regional risks.
- Extended trial periods could delay revenue generation from subscriptions.
Insights
Treasure Global Inc.'s reported
From a financial perspective, this growth trend is promising for the company's revenue streams. The projected market size for mobile POS payments in Malaysia reaching
However, while the extended complimentary trial period until June 2024 could drive increased merchant adoption, it also implies delayed revenue realization. Investors should consider this deferred income against the backdrop of growing competition in the digital payments space. The company's capacity to convert trial users into paying clients post-trial will be important for long-term sustainability.
Overall, the financial outlook is cautiously optimistic, hinging on successful user retention post-trial and the effective implementation of its strategic enhancements.
The introduction of new features such as Promotions, Customer Rewards and various automated functionalities like Auto Accept Incoming Order and AutoFIX demonstrates TAZTE's commitment to enhancing operational efficiency and user experience. These features are designed to streamline F&B operations, reducing resource wastage and potentially increasing revenue for merchants. The integration with the ZCITY app further leverages data analytics to provide personalized consumer engagement, which can significantly impact customer satisfaction and retention.
The Co-Pilot Mode and its automated processes also indicate a sophisticated level of technology application, making TAZTE a competitive player in the digital F&B management system market. The ability of the system to auto-handle issues like printing errors showcases a practical approach to minimizing operational disruptions. Such innovations could attract tech-savvy merchants looking for reliable and efficient solutions.
However, sustaining these technological advancements requires continuous innovation and support, which might demand significant R&D expenditure. The success of these features will largely depend on their seamless integration and the real-world utility perceived by the end-users.
Projected Market for Mobile POS Payments in Malaysia to Reach US
NEW YORK and KUALA LUMPUR, Malaysia, June 11, 2024 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“Treasure Global” or the “Company”), an innovative technology solutions provider, is pleased to announce that TAZTE Smart F&B system (“TAZTE”), its innovative digital food and beverage (“F&B”) management system, continues to make significant strides in its development and market penetration.
Transaction Growth and User Engagement
TAZTE has shown impressive year-over-year growth in both transactions and user engagement. Without any additional marketing funds, the total number of transactions reached 7,540, marking a
Market Insights and Potential
The market potential for TAZTE is significant. According to Statista, the transaction value in the Mobile POS Payments market in Malaysia is projected to reach US
Developmental Stages and Strategic Vision
Treasure Global is currently in the developmental stages of the TAZTE, envisioned as a comprehensive solution for digital transformation tailored to registered food and beverage (“F&B”) outlets across Malaysia. TAZTE is strategically crafted as a merchant-centric program, aiming to harness Treasure Global’s user data to drive heightened business growth for its merchant clientele.
Extended Complimentary Trial Period
In light of the encouraging metrics and positive feedback from Treasure Global’s beta testers, we have decided to extend the complimentary trial period offered to merchants for participation in TAZTE. Initially slated to conclude on December 31, 2023, the trial period has now been extended until June 2024.
Enhancements and Market Strategy
TAZTE has successfully implemented additional features to enhance its service and functionality levels. These include the ability for merchants to create Promotions, Customer Rewards, Remote Approval of Superiors, and Instant Customer Refunds.
Furthermore, Treasure Global is excited to announce the completion of its innovative Co-Pilot Mode, which consists of several automated features designed to optimize operations. The Auto Accept Incoming Order feature automatically accepts orders as they come in, while the Auto Cascade Order Note directs specific order notes to particular print stations. AutoFIX provides automatic troubleshooting when a printing error occurs, ensuring minimal disruption. Additionally, the Printing Divert feature automatically redirects failed print jobs to other functional print stations, ensuring continuous workflow. These completed features are designed to help F&B businesses better manage operational processes and order forecasting, thereby reducing resource wastage and increasing revenue. Customers will also benefit from discounted pricing compared to original menu prices when using TAZTE.
The continued integration with ZCITY, our proprietary app, will further leverage our growing user base of over 2.6 million registered users. TAZTE will continue to gather important data and customer insights, such as demographics, spending habits, and purchase trends, allowing merchants to make smarter decisions and optimize their offerings. TAZTE uses ZCITY App’s CRM analytics software to attract and retain consumers through personalized, data-driven engagement to generate greater profitability.
“TGI is committed to revolutionizing the F&B industry in Malaysia with TAZTE. The extended trial period allows us to fine-tune our system based on valuable user feedback. We are confident that TAZTE will not only drive operational efficiencies but also significantly boost profitability for our merchant partners. We look forward to continuing our development efforts and are excited about the future enhancements that will further solidify TAZTE’s position as the market leader in automated solutions for the F&B industry,” said Sam Teo, Chief Executive Officer of Treasure Global.
*https://www.statista.com/outlook/dmo/fintech/digital-payments/mobile-pos-payments/malaysia.
About Treasure Global Inc:
Treasure Global is a Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards; and TAZTE, a digital food and beverage management system providing merchants with a one-stop management and automated solution to digitalize their businesses. Treasure Global also acts as a master franchiser in Southeast Asia for popular restaurant chains, while providing them with the TAZTE solution. As of May 5, 2024, ZCITY boasts over 2,699,216 registered users.
For more information, please visit https://treasureglobal.co/.
Forward-Looking Statements:
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. It is important to carefully consider statements containing these words as they discuss future expectations and plans, projecting future results of operations or financial conditions or presenting other forward-looking information. Forward-looking statements are not guarantees of future performance; they are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company. These risks and uncertainties are detailed in the Risk Factors section of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023, and subsequent filings with the Securities and Exchange Commission (“SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov. As forward-looking statements cannot be predicted or quantified, actual results may differ materially from those expressed or implied by such statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
For further information, please contact:
Investor Contact
ir_us@treasuregroup.co
Media Contact
Sue Chuah, Chief Marketing Officer
Treasure Global Inc
sue@treasuregroup.co
FAQ
What is the growth rate of TAZTE transactions?
How much has the number of monthly transacted users increased for TAZTE?
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Until when has the complimentary trial period for TAZTE been extended?
What new features have been introduced to TAZTE?
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What is the projected market size for mobile POS payments in Malaysia by the end of 2024?
