Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF) said it has completed the integration of the Loop Wallet pass platform with a new Universal Digital Coupon standard from non-profit The Coupon Bureau (TCB).
The data analytics company said following the integration, when TCB Digital 8112 coupons are delivered through its Wallet pass platform, it will allow users to use their mobile phones to redeem coupons in a contactless and secure manner.
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Customers will not have to download and install a separate app to redeem their coupons, instead, they will be able to redeem them directly through their mobile phone using Loop’s Wallet pass platform, which leverages the native wallet that is already built into every iOS and Android smartphone globally.
Loop said it will also be able to generate “significant revenue” from the integration, noting that coupon fraud is a serious concern for the consumer packaged goods (CPG) industry.
"As was highlighted in the recent announcement of Loop's strategic alliance with NielsenIQ, Loop brings the power of personalization at scale and powers "the last inch" in the purchase process in-store, which provides the CPG Brands with real-time campaign performance and attribution metrics that don't exist in today’s market,” Loop Insights chief executive Rob Anson said in a statement.
“Combined with NielsenIQ, who works with some of the top global CPG brands and retailers, this integration with TCB will continue Loop's disruption of the retail sector and position Loop to continue accelerated growth and market disruption. When we look back at the end of 2021, this TCB and Loop integration will be appreciated as a true game-changer for Loop in terms of industry exposure and most importantly its path to revenue,” he added.
“Leveraging The Coupon Bureau’s latest standard AI (8112) provides universal, single-use, real-time validated coupons. Paired with Loop Insights’ blockchain-backed Wallet pass implementation, this results in a fully interoperable solution, where both the authenticity of the coupon, and its validity, can be confirmed in real-time by any verifier,” said Loop’s chief technology officer Tamer Shafiq.
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