VANCOUVER, BC / ACCESSWIRE / January 8, 2020 / LOOP Insights Inc. (MTRX.V) (the "Company" or "Loop") announced that it has signed a partnership agreement with ID TECH, a leader in the contactless payments industry.
Loop's cloud-based Fobi device - connected with ID TECH's latest NFC device, PiP - offers a new and advanced engagement solution. PiP allows Loop to seamlessly reach customers through their mobile devices using mobile wallets and passes. This channel is currently underutilized in AI retail strategies; retailers lack the ability to connect data and put it into action.
With the emergence of contactless card issuance and mobile wallets, the payment world now places a significant emphasis on contactless acceptance. ID TECH has over a million of Near Field Communication (NFC) contactless devices deployed that are compatible with Apple and Google's mobile wallets. This market access will leverage Loop's first-to-market opportunity.
Loop's and ID TECH's joint debut in November 2019 at the Rockwell Automation Fair successfully demonstrated fast and frictionless personalized mobile engagement. Link to the debut at Rockwell - https://vimeo.com/380048314
"ID TECH is very excited to be working with Loop Insights. Our PiP device, connected to Loop's innovative IoT hardware and managed by its cloud-based AI engine, delivers an exceptional shopper engagement solution for any retail vertical. The interest and attention received at the Rockwell Fair is a testament to Loop's ability to quickly deliver exciting customer experiences that are at the forefront of the market. 2020 will undoubtedly be an excellent year for the company!" comments Ginger Wu, Sr. Product Manager at ID TECH.
Loop Insights' CSO David Salisbury explains: "People don't hesitate to use their phone to interact when they see value in it. More customers are now inclined to opt into retailers' loyalty programs - and the contactless device makes it easy. One simple tap unlocks personalized rewards for the consumer and highly detailed and actionable customer data for the merchant. The result is increased revenue."
In January 2020, both companies will showcase their device at the National Retail Federation (NRF) Show in New York - the world's largest retail expo. This event operates as a global discussion on innovative, futuristic technologies that are anticipated to change the industry.
Loop's CEO Rob Anson says: "We are excited to further share our latest innovation in the new year. Fast, frictionless, and scalable customer loyalty is necessary to stand out in the industry. ID TECH's PiP device expedites our ability to provide personalized experiences for each consumer - a feature that will keep Loop on the cutting edge in the retail market."
About ID TECH
ID TECH is a world-recognized leader in the design and manufacture of secure payment solutions, ranging from PCI-certified PIN-entry devices, state-of-the-art contactless/NFC payment devices to EMV and Magstripe readers. For more than 30 years, ID TECH has built a reputation based on technical excellence, innovation, and a commitment to superior customer service. Headquartered in Cypress, California, USA (with additional engineering centers in Rocklin, California, Shanghai, China and Taoyuan City, Taiwan), ID TECH is an industry leader in delivering payment solutions across the globe.
For more information on ID TECH and its ViVOpay contactless product line, please visit http://www.idtechproducts.com.
About Loop Insights
Loop Insights (MTRX.V) is a technology company that has developed a unique automated AI marketing platform that is leveling the playing field for bricks and mortar retailers in their battle with online digital competition. Loop gives brands and retailers the capability to interconnect their physical and digital ecosystems by using the Loop device that can be plugged into any point of sale environment, independent of hardware or IT networks, thus enabling rapid deployment and global scalability. Retailers and brands benefit from making real-time, data-driven decisions that help them curate unique personalized customer experiences in stores, a capability that previously did not exist.
For more information, please contact:
Loop Insights Inc.
Soy Garipoglu, Manager, IR
CHF Capital Markets
Cathy Hume, CEO
T: 416-868-1079 x 231
This news release contains certain statements which constitute forward looking statements or information, including statements regarding Loop's business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop's technology; and the viability of Loop's business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop's control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: LOOP Insights Inc.
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