LoopPay’s digital credit card has attracted the attention of credit card titan Visa(s v), which may be just be looking for alternatives to plastic. LoopPay said on Thursday that Visa has made a strategic investment in the company of an undisclosed sum. LoopPay makes programmable keychain fobs and iPhone sleeves capable of generating a magnetic field that emulates the magnetic stripe on a credit or debit card. And point-of-sale terminal that can read it. GE’s financial arm has also made an investment in Loop, and last year the Boston startup raised at $10 million Series A round.
Square has joined If This Then That’s growing stable of companies linking their data to other applications and devices to the internet. IFTTT users now have the ability to build recipes using Square sales, refund and settlement data as triggers.
Square envisions a bunch of productivity uses cases with IFTTT. For instance, if an employee makes a big sale, IFTTT could automatically send a congratulatory email or SMS to the salesperson or note the sale in a Google doc. Or if a store issues a big refund, IFTTT could notify the owner, reminding him or her to follow up with the dissatisfied customer.
But it seems to me Square merchants could have a lot of fun with the service, too. For instance, they could link their sales data to smart devices installed in the store. Every 1000th sale could cause smart lighting to blink on off, indicating the lucky customer…
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