TRITECH MEDIA ACQUIRES 25% OF TUYU SOUTH AFRICA’S FIRST MOBILE REWARDS PLATFORM
Tritech Media the media technology innovator controlled by the Kirsh family, today announced the acquisition of 25% in TuYu, the mobile rewards platform that allows users to receive and redeem rewards in a secure and convenient manner by using their mobile phones. Tritech Media has the option to increase its stake to 50.1%.
TuYu offers a streamlined, innovative way to instantly reward staff, customers or other beneficiaries directly to their smart- and feature phones, ensuring a quick turnaround time between qualifying for a reward and being rewarded appropriately. Rewards are redeemed using leading-edge mobile payment technology through a national network of major retailers incorporating 55 000 till lanes today.
William Kirsh, founder and CEO of Tritech Media, commented: “This investment further entrenches our position as the leading provider of all-encompassing loyalty solutions in South Africa. TuYu is core to our strategic positioning in using its proprietary technology to deliver customised content over digital media. Importantly TuYu focusses on the mobile phone channel which delivers rewards precisely to the target beneficiary. TuYu is highly complementary to our offerings targeting the loyalty industry”.
With TuYu companies can instantly reward users regardless of their location. All that is required is a person’s mobile number. This alleviates all logistical, safety and resource intensive issues associated with traditional rewards programs. Through its automated integration into existing software systems, corporates can make rewards without any compromise by human intervention. TuYu’s self-service portal makes staff rewards financially viable to a market not efficiently addressed by traditional staff recognition programs.
Ruan Geyser CEO of TuYu commented: “This investment by Tritech Media not only provides valuable funding but also, perhaps more importantly, introduces the perfect strategic partner, one that complements our business, shares our vision and enables us to be at the forefront of mobile rewards in South Africa and internationally over time”.