"Businesses and brands are looking to protect their assets and stay relevant," Chief Strategy Officer David Salisbury said in the release. "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."
Loop's solution eliminates paper receipts, which can carry viruses, and their being transferred from person to person, thereby reducing contact between cashiers and customers. Instead, customers can select, on their device, if and where they want a digital receipt delivered, to their e-mail address, cellphone via text, mobile wallet or app.
Loop's platform can deliver personalized promotions and third-party advertising with the digital receipts.
These features give Vancouver-based Loop two scalable revenue streams, one based on cost per impression and the other based on cost per redemption.[NLINSERT]
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