VANCOUVER, BC, April 23, 2020 – Loop Insights Inc. (TSX.V: MTRX) (the “Company” or “Loop”) announced today that it has signed a Memorandum of Understanding (MOU), and intends to enter into a joint venture partnership, with Ping Pong Innovation (“PPI”)—to bring Loop’s transformative products to Mexico and Latin America’s tourism industry.
Ping Pong Innovation, leader in generating technological solutions in the Mexico and Latin America market, has been recently commissioned by the Mexico government to upgrade its tourism industry, which is currently limited by a disconnected retail and property tech landscape. The intention of the Loop and PPI partnership is to bring Loop’s connective technology to Mexico to transform its current infrastructure to create seamless, revenue-generating customer experiences.
Ping Pong Innovation’s Alma Pineda commented: “After the pandemic is under control, our retail and tourism clients will be desperately waiting to reopen their operations and rebuild. The tourism industry dominates Mexico and Latin America’s economy and we anticipate substantial interest in connective, contactless technologies will come from this vertical. We are confident that with Loop we can revive our clients’ properties so that guests feel safe and secure traveling to Mexico after the Covid-19 crisis is over.”
Loop CEO Rob Anson added: “Covid-19 is accelerating brick and mortar’s digital transformation as it is clear that contactless, connected experiences are the future. Ping Pong Innovation is a respected leader in building high quality, innovative solutions, and they will be very busy coming out of the pandemic. We are excited to enlist our services to help them revitalize their clients’ retail and property tech infrastructure, and instill confidence back into Mexico’s tourism industry.”
Loops’ solution stack, which includes AI connectivity, a contactless engagement platform, and a mobile wallet pass, connects shopper journeys across locations and platforms to unlock a cohesive understanding of each customer and deliver personalized marketing. To leverage this solution in an industry such as tourism, which involves many different disconnected properties and venues, will be game-changing in terms of new-line revenue and growth opportunities.
About Ping Pong Innovation: a Mexico-based solutions company that connects clients to the technology needed for their respective projects. They are specialists in systems with NFC (Near Field Communication or tap technology), RFID (radio frequency identification) and BLE indicators (Bluetooth low energy technology). They offer an integral service of planning and implementation of customized software and hardware technologies in various industry verticals, including smart city projects, sports and entertainment venues, and tourism initiatives.
About Loop Insights: is a Vancouver-based technology company that provides transformative artificial intelligence (AI) solutions to level the playing field between brick and mortar retailers and their online competition. Particularly, Loop’s technology aggregates online and on-premise data to enable real-time, data-driven marketing decisions for an enhanced customer experience. To close the consumer loop, the Company provides retailers and brands complete, real-time redemption metrics—something that does not exist in the brick and mortar environment today. Loop’s products integrate with clients’ existing legacy systems, which supports a seamless and convenient digital transformation.
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.
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