VANCOUVER, BC, April 9, 2020, Loop Insights Inc. (TSX.V: MTRX) (the “Company” or “Loop”) announces its release of a NFC (Near Field Communication) contactless verification platform to support brick and mortar retail’s shift to curbside pick-up and delivery to abide by social distancing expectations.
It has become quite clear that these reactionary processes are incredibly flawed, as they still involve a manual process between retailer and consumer. Loop’s technology connects the users’ wallet pass information (payment card, coupons, memberships and identification), and the retailers’ online and offline data (e-commerce, mobile commerce and in store), to verify the shopper and validate the transaction.
Loop is ready to capitalize on large-scale opportunities as major retailers hit roadblocks at the point of sale. Retail giants, like Target, are halting plans for curbside pick up to minimize human contact. Others major retailers such as Walmart are facing friction with alternative forms of payment, and verification, for online pick up orders.
Loop CEO Rob Anson: “Covid-19 has created the perfect storm of relevancy for our platform. Loop will provide a safe and secure experience for customers and employees. The need for a digital transformation is at the absolute forefront and our solution will play a large role in the transformational retail shift following this crisis.”
It is expected that the contactless payment market will grow from USD 10.3 billion in 2020 to USD 18.0 billion by 2025 at a compound annual growth rate (CAGR) of +11.7% during the forecast period (2020-2025) With the retail market projected as the vertical to hold the largest market size during this forecast period, Loop is in a lucrative position, especially from Covid-19’s push for contactless consumer interaction.
More About Loop: Loop Insights Inc. (TSX.V: MTRX) is a Vancouver-based technology company that has developed a unique proprietary platform that combines the power of IoT and AI to level the playing field between brick and mortar retailers and their online competition. Loop gives brands and retailers the ability to connect their physical and digital assets, regardless of hardware or IT networks, thus enabling rapid deployment and global scale. Retailers and brands benefit from making real-time, data-driven decisions that help them curate unique personalized customer experiences in stores. Loop then delivers attribution with trackable redemption metrics and conversion rates, a capability which previously did not exist.
For more information, please contact:
Loop Insights Inc.
CHF Capital Markets
Cathy Hume, CEO
T: 416-868-1079 x 231
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