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Dubai-based FinTech platform Znap rebrands to TOTL

By Delisha Fernandes

January 18, 2024

  • cashback rewards platform
  • Contactless Payments
  • E-commerce Platforms

Znap, TOTL, cashback rewards platform, contactless payments, e-commerce platforms, FinTech news, FinTech MENA

Znap, a Dubai-based FinTech platform, has revealed its new brand identity, TOTL, designed to help drive the company’s growth in the region.

The rebrand from Znap to TOTL (pronounced Total) will include a logo refresh, which represents “in our mind” contactless payments with colours – green, which represents growth, health, and tranquillity; purple, which represents creativity, luxury, and wisdom – and attributes that evoke emotions and brand association.

Uday Rathod, CEO and Co-Founder of the brand TOTL said, “We’ve reached a critical turning point that began with the unveiling of Znap in 2017 – a platform that was at the time solely designed to help consumers upload their bills and earn cash rewards on every product listed in the FMCG sector. However, as business dynamics and consumer preferences evolve, there is a need to move the brand to the next level. By rebranding to TOTL, we are now on a mission to help consumers get value for every Dhiram spent in a way that’s a win-win situation for both business and consumers.”

Over the last few years, the cashback rewards industry has become an integral part of most businesses’ growth strategy in the UAE and regionally, as the concept continues to help homegrown retailers drive customer loyalty and increase sales. According to research firm Statista, the global cashback industry is expected to be worth more than $200 billion a year by 2024, with participating retailers growing their revenue up to two and a half times faster than competitors who do not use them.

In particular, the UAE has experienced a surge in the adoption of loyalty programs, led by e-commerce platforms increasingly tapping into loyalty programs to boost repeat purchases. Its loyalty market, which includes cashback and rewards programs, is expected to increase from $1,269.7 million in 2022 to $2,214.5 million by 2027.

Before the rebrand, Znap had partnered with over 600 businesses and with the new brand outlook, the company is now expected to aggressively into other untapped markets, including Abu Dhabi, Ajman, and Ras Al Khaimah, in a bid to tap different potential categories such as food and beverages, beauty and wellness, optical floral stores, pet care and more.

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