Loop Insights Inc (CVE:MTRX) has launched a contactless digital receipt platform to eliminate the need for exchanging paper receipts during the coronavirus pandemic.
The technology allows retailers to send digital receipts via text, email, app or mobile wallet with just one tap on the user’s device.
In addition to receipts, Loop’s platform is able to provide personalized promotions and programmatic third-party advertising. That creates potential new revenue through cost per impression and cost per redemption models.
READ: Loop Insights closes oversubscribed non-brokered private placement raising aggregate gross proceeds of $2,113,001
"Businesses and brands are looking to protect their assets and stay relevant,” Loop's chief science officer David Salisbury said in a statement. “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 is a Vancouver-based technology company that has developed a unique automated artificial intelligence (AI) marketing platform intended to level the playing field for brick and mortar retailers in their battle with online digital competition.
It gives brands and retailers the capability to inter-connect their physical and digital ecosystems by using a device that can be plugged into any point of sale environment, independent of hardware or IT networks, thus enabling rapid deployment and global scale.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel