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.
Forward Looking Statements/Information:
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.