BELLEVUE, WA, Jan. 11, 2022 (GLOBE NEWSWIRE) -- TraQiQ, Inc. (OTC QB: TRIQ) (the "Company" or "TraQiQ"), a leading provider of solutions for the Gig economy reported significant progress with its product road map in 2021. TraQiQ continues to build on its cloud-based Product portfolio as well as its Service offerings.
Over the last 12 months, the company has innovated across each of its three product and service pillars. TraQiQ continues to “Target” the digital customer, facilitate “Transactions” and “Last mile” delivery and tasks.
In the “Target” vertical, TraQiQ acquired Kringle in Q1. The Kringle suite analyzes customers’ behavior and transactions with AI models and delivers recommendations and personalized content. In 2021, TraQiQ launched a new product - Kringle crowd. “This multi-faceted product enables brands to build communities. By adding Gamification to the community experience, Kringle crowd has achieved a very high level of engagement and success” said Sandeep Soni, President of the Kringle Subsidiary.
The “Target” team also launched “Spin-to-Win”. This product allows TraQiQ’s clients to create a fully customizable program for their users to win rewards, points, cashback, vouchers, tokens, or products.
The “Transact” team launched a new product suite in 2021. TraQPayments brings together an entire suite of products to facilitates back-end payment processing along with a versatile front-end digital wallet, TraQiQ offers end-to-end Payment solutions for enterprise customers and payment providers. The Settlement engine allows cross border transactions with multiple currencies and vendors. This convergent platform provides a scalable and flexible solution and has been deployed in multiple geographies.
The “Deliver” team continued to add significant features to both the TraQSuite product and the Mimo service. TraQSuite is a distribution platform that allows users to setup task-based networks rapidly. New deployments in 2021 included customers in housing finance, internet service providers and verification companies.
TraQiQ acquired Mimo in 2021. Mimo is a task and delivery service that runs on the TraQSuite product. The Last mile delivery segment in India is growing rapidly, both for consumer and B2B use cases, and has produced multiple unicorns. Mimo added new offerings included logistics for inter-city deliveries. Mimo also announced tremendous growth in the verification task business with the team crossing over 1mill transaction.
“We are very pleased with the growth of our network across India. We have focused on bringing the Fintech and Last mile segments as we serve our customers across the country” said Lathika Regunathan, President of Mimo. “We strive to keep adding additional functionality to TraQSuite and more services offerings to Mimo.
About TraQiQ, Inc.
TraQiQ, Inc. is a global technology company with a suite of products designed to help identify customers, facilitate transactions/payments, and fulfill/deliver transactions. TraQiQ’s MIMO subsidiary provides delivery and task worker solutions across India. MIMO works with Banking, Financial, Logistics & Distribution companies, to take their products & services to semi-urban and rural India. For more information visit https://www.TraQiQ.com/.
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Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. The potential risks and uncertainties include, among others, the risks listed in the company’s most recent annual report on Form 10-K and other documents filed by the company with the Securities and Exchange Commission. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, performance, prospects, and opportunities to may differ materially from those set forth in, or implied by, the forward-looking statements.
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