VANCOUVER, BC, May 5, 2020 – Loop Insights Inc. (TSX.V: MTRX) (the “Company” or “Loop”) — provider of transformative artificial intelligence (AI) solutions— announced its launch of a first-to-market digital receipt platform that eliminates the need for exchange of physical paper receipts, reducing customer/merchant interaction at the point of sale.
Consumers are now more aware and cognizant of the harmful bacteria and viruses they are exposed to when shopping in brick and mortar environments. To date, receipts are often delivered physically, and are seen as potential carriers of these viruses. With the addition of Loop’s contactless digital solution, retailers are now able to offer a safer, streamlined experience. A simple tap of the user’s device will push a digital receipt to email, text, app, or mobile wallet, according to customer preferences.
Loop CSO David Salisbury: “Businesses and brands are looking to protect their assets and stay relevant. Loop is set to be the transformational gateway to an end-to-end contactless solution that will enable brick and mortar retailers to successfully reopen their storefronts.”
In addition to being contactless and cost-efficient, a key differentiator of Loop’s digital receipting platform is its ability to deliver personalized promotions and third-party programmatic advertising along with the digital receipts. For Loop, this feature creates two new highly scalable revenue streams based on a cost per impression, and cost per redemption, model.
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.
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.