MENLO PARK, Calif.--(BUSINESS WIRE)--The 2017 Innovation Project prestigious Innovator Awards honored Loop Commerce’s GiftNow™ with first place and Gold Medal for the category of Most Innovative Payments Player, in what marked the pinnacle award for the evening and conclusion of the Innovation Project 2017.
“It is a true honor to be recognized as a leader amongst such prominent and well-regarded companies disrupting the retail and payments ecosystems,” said Roy Erez, CEO and Co-Founder of Loop Commerce. “Four years ago, we embarked on a mission to redefine how consumers buy and receive gifts online, challenging the fundamentals of how commerce operates and overcoming the obstacles associated with these type of purchases, to benefit the industry as a whole. The commerce, retail and payment industries are experiencing the beginning of a behavior shift in consumer gifting, as well as the birth of a new type of online transaction that benefits consumers, merchants and payment providers alike. During this time of significant transformation, we are truly thrilled to receive such a prestigious industry award.”
GiftNow is the first and leading product e-gifting platform and service powering the shopping experience, checkout and delivery of gifts for leading retailers including Saks Fifth Avenue, Neiman Marcus, Macy’s, Coach, Bergdorf Goodman, American Giant, among others. This platform creates a simple and more thoughtful gift-giving and receiving experience for consumers, who can easily send gifts via a merchant’s online store using only the recipients e-mail address. Recipients can then accept their gift and configure it to their own personal preferences – selecting size, style, color, or exchanging the gift virtually and easily, before having it shipped to the address of their choosing.
"The PYMNTS Innovation Awards celebrate the companies, and men and women, who have made the most significant contributions to innovation in payments and commerce in the past, and the entrepreneurs who have the most promising solutions for driving innovation forward,” according to Karen Webster, CEO of PYMNTS.com. “I’m very honored to be able to recognize these contributions at IP 2017."
Six finalists across 15 categories competed for Gold, Silver and Bronze medals. Some of the other categories included Best B2B Innovation, Best Debit Innovation, Best Merchant Solution, Most Disruptive Innovation, and more.
The Awards Dinner held at Fenway Park was emceed by Jason Alexander who’s known by millions for his role as George Constanza on “Seinfeld” and, of course, for making the “fat wallet” famous. This year, new and seasoned payment executives alike had a chance to interact with him at a dinner for delegates of the fifth anniversary of the Innovation Project.
The Innovation Project brings together the most senior executives and thought leaders in payments, commerce and retail each year for two days of closed door, off-the-record discussions held at Memorial Hall on the campus of Harvard University in Cambridge, MA.* This year, this highly unique and high-powered forum shared their insights on where they’re placing their bets on the future of payments innovation as they look ahead to the next decade.
* The Innovation Project® and PYMNTS.com® are not affiliated with Harvard University, nor is the Innovation Project® 2017 a Harvard University program or activity.
About Loop Commerce
Loop Commerce is driving a paradigm shift in e-commerce by removing the obstacles consumers face when trying to buy a physical product as a gift. GiftNow, Loop’s enterprise-grade, fully customizable product e-gifting platform and service, is powering the shopping experience, checkout and delivery of gifts within leading retailers’ online stores. Loop Commerce created a new e-commerce category by unlocking transactions previously not accessible, while creating the consumer expectation for what the online gifting experience should be. By integrating the personalization of gifting with the convenience of online shopping, Loop makes buying gifts simpler and more thoughtful for consumers, while driving significant business value for retailers. Loop’s solution seamlessly integrates with retailers’ online stores through a zero-integration implementation, driving incremental sales, reducing costly returns and exchanges and shipping costs, and enhancing customer acquisition and loyalty. The company’s groundbreaking SaaS solution was built and optimized with significant R&D and collective experience working with some of the largest and most demanding retail brands. Loop is backed by PayPal and key executives in technology, e-commerce and retail. For more information about Loop Commerce, visit our website and follow us on Twitter @LoopCommerce and on LinkedIn.