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  • Loop Insights (MTRX) has signed a proof of concept agreement with Suresite Group, a service provider for fuel and convenience retailers
  • The industry has seen changes to the way its customers interact with brick and mortar stores in the last 12 months
  • Loop Insights will implement its Fobi device and Insights platform across Suresite’s client locations
  • Loop Insights is a Vancouver-based Internet of Things technology company
  • Loop Insights (MTRX) is down 1.91 per cent and is trading at C$1.54 per share

Loop Insights (MTRX) has signed a proof of concept agreement with Suresite Group, a service provider for fuel and convenience retailers.

The gas station convenience store business represents a £4.5 billion sector in the United Kingdom.

The industry has seen changes to the way its customers interact with brick and mortar stores in the last 12 months with less demand for fuel due to local restrictions.

However, many customers chose to carry out their grocery shopping locally at nearby fuel stations, looking to fulfil multiple purposes in a single trip with an increased appetite for cashless transactions.

Loop Insights will implement its Fobi device and Insights platform across Suresite’s client locations.

Eva Jones, Head of Product Development and Innovation at Suresite, commented,

“Through services such as our real-time, data-driven fuel monitoring solution, Suresite understands that retailers need data to be delivered in real-time to be able to maximize revenue and wallet-share.”

“This is why Suresite has partnered with Loop Insights, to help our clients improve their business decisions based on real-time, actionable insights,” she added.

Loop’s Fobi is an IoT device working with an AI-powered retail analytics platform that allows retailers access to real-time transaction data from any point of sale.

Loop Insights CEO Rob Anson stated,

“Our latest proof of concept agreement with Suresite is additional proof that our Fobi device combined with our AI-powered Insights platform serves an immediate, data-driven need in the convenience and fuel sectors.”

Suresite CEO Steve Hoban added,

“We understand the power of insight to help our clients improve their offer, sales and profit. We are excited to partner with Loop and are looking forward to the results of our trials.”

Loop Insights is a Vancouver-based Internet of Things technology company that delivers transformative artificial intelligence, automated marketing, venue tracing, and contactless solutions to the brick and mortar space.

Loop Insights (MTRX) is down 1.91 per cent and is trading at C$1.54 per share as of 2:03 pm ET.

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