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LOOP Insights inks agreement with TELUS to conduct pilot across three retail locations

The Canadian telecom giant has deployed Loop's Internet of Things product Fobi to test and leverage its automated marketing capabilities

Loop Insights Inc. - LOOP Insights inks agreement with Canadian telecom giant TELUS to conduct pilot across three retail locations
Loop's unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement

Loop Insights Inc (CVE:MTRX) (OCTMKTS:VRZPF) revealed on Thursday that it has struck a limited formal agreement with TELUS Corporation (TSX:T) (NYSE:TU) to carry out a 90-day proof of concept pilot across the Canadian telecom giant’s three flagship corporate retail locations in British Columbia.

The Vancouver-based advanced technology company said the pilot started on August 5 when TELUS deployed Loop's IoT product Fobi to test and leverage its automated marketing capabilities. Connected between the printer and point of sale, Fobi will identify the opportunity to offer print tailored discount codes on the customer receipt for items that may be of interest to the customer based on their purchase.

Loop, which delivers artificial intelligence-driven automated marketing, said these real-time capabilities enhanced the shopping experience by providing “data-driven product suggestions and unique discount codes for future use.”

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

In a statement, Andrew Turner, who is the vice president of strategic operations at TELUS, said: "TELUS sees great value in Loop's real-time data connectivity applications across brick and mortar retail environments. Known for consistently putting our customers first and driving innovation in the telecommunications industry, we are always looking to elevate our customer experience.”

Meanwhile, Loop CEO Rob Anson noted that the opportunity to partner with one of Canada's most “respected and successful corporations” is an “important piece of our puzzle as we look to scale through potential channel reseller partners.”

“TELUS will generate creditable third-party validation and credibility for our brand and go-to-market strategy. Following a successful pilot completion, the scope of this opportunity grows exponentially through channel reseller distribution," added Anson.

In addition to AI-automated marketing, the Vancouver-based Internet of Things technology company delivers contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement.

Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.

Loop's stock recently traded nearly 39% higher to $0.27 a share in the OTC Markets.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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Quick facts: Loop Insights Inc.

Price: 0.33 CAD

TSX-V:MTRX
Market: TSX-V
Market Cap: $32.03 m
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