all this while, developed nations have been talking about going cashless. so cashless we went, but that result with another set of headaches: a wallet fatten by a collection of credit and debit cards. this is where Loop Mobile Wallet comes in. so what exactly is Loop? well, the Loop is a true electronic mobile wallet that allows you to securely store all your cards in your smartphone and let you pay for your purchases with the phone at more than 90 percent of retailers. we cannot begin to describe how awesome the product is and very first thing we imagine is, a wallet free of bank and membership cards, thus allowing us to truly go minimal with our wallets, or even go without a physical wallet. all you need is your phone the next time you hit up Starbucks or your local grocery stores. as long as credit/debit card payment is accepted, the Loop would be your best shopping pal. talk about minimizing your wallet.
however, the Loop don’t just magically works; it requires both hardware and software to get going. the hardware lets you input your cards that you like to store on your phone, while the software (i.e. the app, available for both iOS and Android devices) manages your cards. it can even capture and store IDs, licenses, membership cards and more, so that you can step out of your house without carrying any physical cards. as for payment process, it couldn’t be easier. all you have to do is place the Loop-equipped phone near the credit card reader, hit the transmit button on the screen or device and you are all set. hardware-wise, LoopPay is offering two types of Loop: Loop Fob that plugs into your phone audio jack and compatible with both iOS and Android devices, and Loop ChargeCase which integrates Loop’s functionality into a protective case that also doubles as a backup battery for your iPhone 5 or 5s. the latter comes with an audio jack magnetic stripe reader for inputting your mag stripe cards into the Loop device.
the LoopPay is currently on Kickstarter seeking $100K for the production of the Loop device. you can back this awesome device up by pledging $34 for the Loop Fob and $99 for the Loop ChargeCase. check out the product campaign page for even more reward levels. in the mean time, click past the jump for a pitch video to learn more about the Loop.