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News Update


Tech Firm Debuts Platform for Curbside Pickup/Delivery Sales
News Update

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Loop Insights' system affords no-contact, safe and secure transactions.

Loop Insights Inc. (MTRX:TSX.V) released a contact-free verification platform for use by brick and mortar retailers for curbside pickup and delivery sales, it announced in a news release.

To verify a shopper and validate a transaction, Loop's near field communication technology connects the shopper's wallet pass information and the retailer's online and offline data. Wallet pass information includes identification and payment card, and if appropriate, coupons and memberships. Transactions are safe and secure, according to the company.

"COVID-19 has created the perfect storm of relevancy for our platform," CEO Rob Anson said in the release. "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."

The company stated that the contactless payment market is expected to expand to $18 billion by 2025 from $10.3 billion today, reflecting a compound annual growth rate of 11.7% during that period.

"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," the company noted. [NLINSERT]

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Loop Insights. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Loop Insights, a company mentioned in this article.

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