VANCOUVER, BC, January 8, 2020 – Loop Insights Inc. (TSX.V: MTRX) (the “Company” or “Loop”) is pleased to announce 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.
“ID TECH is very excited to be working with Loop Insights. Our PiP device, connected to their 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’s 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.
Loop Insights Inc.
CHF Capital Markets
Cathy Hume, CEO
T: 416-868-1079 x 231
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