Loopz lets merchants create a closed loop payment program for their business, event or venue. Value is stored on an RFID card that can be used to pay for items at a mobile phone or tablet with the Loopz Point of Sale app.
Merchants can manage their payment program online; check metrics, reports and usage. They can customize the cards with their brand and order them.
Participants can enroll in a payment program through a mobile app, sms or at the merchant's venue. The physical card is delivered to the participant on site or through mail. Topping up a card can be done through the participant app or at a merchant POS.
The value and transaction history is stored on the card and is synchronized to the cloud when a card is read. This means that the merchant can still operate the program even when there is no internet connectivity.