Loop Insights completes its integration with Vend’s Billing API

Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF) announced Wednesday that it has completed its integration with Vend’s Billing API. 

Loop said it will now provide Vend retailers with seamless onboarding to Loop’s multi-domain, franchise compliance, and historical reporting solutions. 

“It has been great to see Loop’s enthusiasm for the project and we’re thrilled that our Vend retailers can now onboard clients to benefit from Loop’s products and services faster than ever before, giving them easier access to the multi-domain, franchise and historical reporting that Loop offers,” said Vend’s Director of Product Partnerships Lowry Gladwell in a statement. 

“Additionally, our announced acquisition by Lightspeed, which is expected to close towards the end of April, will allow Vend and Loop to reach new clients, with a particular focus on expansion in Asia-Pacific. I look forward to connecting Vend’s expanding customer base with Loop’s amazing solution stack.” 

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Loop CEO Rob Anson added: “Vend’s support of Loop’s integration to their Billing API speaks volumes about its confidence in Loop and our retail solutions. With the development of our Billing API integration now complete, both Loop and Vend are positioned to generate new sales opportunities through this successful partnership. Loop’s retail Insights service can now be onboarded to over 20,000 Vend customer locations, with the ability to scale to support Lightspeed’s 135,000 worldwide locations through Lightspeed’s recent acquisition of Vend. This API integration represents a massive revenue-generating opportunity for Loop, Vend, Lightspeed, and their many customers.”

Loop said it is the first company to complete a full billing API integration with Vend, reflecting Vend’s confidence in Loop’s products and its ability to deliver value to Vend’s clients. 

Loop added that Vend has introduced the company to all of its customers worldwide through their digital customer newsletter and some Vend customers have already begun the onboarding process with Loop. And Vend is now expected to launch expanded sales and marketing campaigns in support of Loop and its API integration, explaining the benefits of Loop’s products and services to Vend’s growing customer list.

With its Insights, Engage, and Wallet pass platform all gaining interest from brands and retailers across the world, Loop said that Vend will now be able to offer a simple onboarding process for retailers, drastically reducing the time required to integrate a new client and deploy Loop’s products and services.

$23 trillion global retail market

Loop noted that its integration with the Vend Billing API will allow it to more rapidly onboard Vend’s growing client list in the $23 trillion global retail market.

Lightspeed POS Inc (NYSE:LSPD) (TSE:LSPD) (FRA:3L5), a leading provider of cloud-based, omnichannel commerce platforms, announced last month it had entered into a definitive agreement to acquire Vend. The acquisition will greatly expand Lightspeed’s existing foothold in Asia-Pacific, nearly doubling its existing customer base in that region.

Loop said the combination of Lightspeed’s scale with the talent and technology available to Vend, including Loop’s products and services, is expected to greatly benefit Lightspeed and its massive customer base. Following the closing of the acquisition, Lightspeed will operate as the preferred technology provider for over 155,000 existing customer locations worldwide.

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Story by ProactiveInvestors