Toss has renamed its restaurant recommendation app from 'Spot List' to 'Toss Spot.' This change is seen as part of its strategy to expand offline touchpoints, following the introduction of facial recognition payments and payment terminals.
According to the financial sector on September 14, Toss's operator, Viva Republica, changed the service name on August 19, just over three months after the app's launch on May 7 in the Google Play Store.
Toss Spot provides rankings and recommendations for restaurants based on users' actual payment data. It utilizes users' transaction histories linked to Toss to show frequently visited or revisited establishments.
Industry experts view Toss Spot as a new consumer touchpoint that could help expand Toss's offline business. Through its subsidiary Toss Place, the company distributes payment terminals and POS solutions. Last year, it officially launched 'Face Pay,' which allows payments through facial recognition. As of the end of July, Toss Place had accumulated 440,000 merchant partners.
While Face Pay and payment terminals handle transactions in stores, Toss Spot aims to attract users at the earlier stage of store exploration. In the future, if store searches, visits, payments, and rewards are interconnected, it could enhance the use of the Toss ecosystem by consumers and merchants.
The name change is interpreted as a move to leverage the Toss brand for greater initial recognition. As of today, Toss Spot has recorded 'over 1,000 downloads' in the Google Play Store.
However, Toss has stated that specific plans for linking Toss Spot with Face Pay and Toss Place have not yet been established. Currently, the significance lies in integrating the restaurant exploration service under its brand, thereby securing another offline consumer touchpoint.
A Toss representative stated, 'We changed the name to clarify that this is a service provided by Toss, making it easier for users to access the service through a familiar brand. Our goal is to help users discover good restaurants based on reliable information.'
* This article has been translated by AI.
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