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Loop Insights inks deal with University of Houston Athletics for its contactless platform for tracing and cashless commerce

Loop’s “integrated product stack” is aimed at 356 NCAA Division 1 colleges staying open safely, and channeling Loop's products and services to ramp up profitability

Loop Insights Inc. - Loop Insights inks deal with University of Houston Athletics for its contactless platform for tracing and cashless commerce
Loop said its contact tracing solutions can provide “a safe environment for fans and guests” while they are attending games at the iconic TDECU American football stadium on the campus of the University of Houston

Loop Insights Inc (CVE:MTRX) (OCTMKTS:VRZPF) revealed on Wednesday that it has signed an agreement with the University of Houston Athletics (UH) to implement the company’s contactless, artificial intelligence marketing solutions to provide personalized promotions and targeted engagement.

In addition, the Vancouver-based advanced technology company said it will provide the University of Houston Athletics with its contact tracing solutions so that it can provide “a safe environment for fans and guests” while they are attending games at the iconic TDECU American football stadium on the campus of the University of Houston. The stadium serves as the home of the Houston Cougars football team, which represents the University of Houston in collegiate football and the Houston Roughnecks of the XFL.

Founded in 1927, the University of Houston is a public research university in Houston, Texas. It is also the third-largest university in Texas with more than 47,000 students.

READ: Loop inks contract with bdG Sports to deliver contact tracing, automated marketing solutions for NBA, NHL, PGA golf events

In a statement, the University of Houston's deputy athletic director David Tagliarino said: "A main goal for us is to administer enhanced safety protocols and best practices, measures that instill confidence among our fans and guests during these challenging times due to Covid-19.”

He added: “Loop's solution is appealing because it also provides fully automated and personalized fan experiences with large-scale user adoption and enhanced fan engagement opportunities. In addition to improving the way we interact with fans inside and outside the stadium, Loop's contact tracing will greatly assist our efforts in returning fans to our venues in a safe and prudent manner."

Given the health risks linked to the coronavirus (COVID-19) pandemic UH Athletics will be working with Loop in the development and implementation of a contactless and cashless solution for fans and guests attending events at TDECU Stadium, said the company.

In addition to helping Houston Athletics provide Houston football fans and guests "safe and secure access" when attending events, Loop's e-commerce solutions will be integrated within the platform to provide fans with an ability to purchase event tickets, concessions, merchandise products, and parking services without having to use physical cash.

Finally, with users using the platform to make their purchases and access events, Loop's AI marketing services will provide personalized promotions and engagement opportunities, creating a more interactive fan experience at Houston athletic events. Loop said its services and technologies will offer “a more robust game day experience” for football fans.

Loop Insights CEO Rob Anson said the company’s “first priority” is reopening and "keeping campus doors open" through its proven and scalable contact tracing platform.

“Secondly, we want to help UH maintain and increase its revenues. We expect to generate meaningful revenue from monthly fees associated to active users on the Loop platform as well through participation in a revenue share,” added Anson.

“With our integrated product stack, UH and all of the other 356 NCAA Division 1 colleges can gain immediate access to all of Loop's products and services and benefit from increased profitability through streamlined operational efficiencies. We intend to deliver a future proof campus experience, so the next wave of Covid-19 does not close their doors. Loop is the complete solution."  

Loop’s contactless solution integrates its Fobi technology with mobile wallet pass technology to create a platform that is reliable, and highly scalable to support large adoption rates.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

Quick facts: Loop Insights Inc.

Price: 0.74 CAD

TSX-V:MTRX
Market: TSX-V
Market Cap: $71.83 m
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