This post is part of our live coverage of FinovateSpring 2014.
Making its way to the stage right now is Loop, demoing its LoopWallet, Loop AppCessories, and Magnetic Secure Transmission (MST) technology.
“Today, consumers’ wallets are stuffed with payment, gift, loyalty, membership, IDs, insurance cards and more. The LoopWallet app allows consumers to securely scan, store, and organize all their cards and use them to pay with their Loop-enabled smartphone or smart accessories nearly everywhere credit cards are accepted.”
Presenting: Will Graylin (CEO) and Greg Ewald (VP Marketing)
Product Launch: Kickstarter (October 8, 2013); Kickstarter shipments (January 23, 2014); general availability (February 19, 2014)
Metrics: $12 million in Round A; 36 employees; pre-revenue
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions
HQ: Burlington, Massachusetts
Founded: August 2013
Website: looppay.com
Twitter: @looppay