Treasure Global (TGL) shares surged past 86% in initial Wednesday trading after the company disclosed a strategic partnership making the payments processor the exclusive distributor in Malaysia for Hong Kong-based digital coupons company Mezzofy.
Treasure Global said the partnership is expected to generate $2 million to $4 million in recurring annual revenue within the first year following its launch.
Mezzofy's cloud-based coupon-as-a-service platform has facilitated more than $40 billion in transactions across 15 markets, providing merchants with cost-effective customer engagement tools through digital coupons, Treasure Global said.
Financial terms of the collaboration agreement were not disclosed.
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