OV Loop, Inc. Acquires Cultos.io to Enhance Its Super-App and Omnichannel Commerce Experiences For Buyers, Sellers, and Brands
April 18 2024 - 11:24AM
Business Wire
OV Loop, Inc., – America’s only cross platform tap & pay
wallet/super-app and omnichannel commerce platform for people,
merchants, and brands – is pleased to announce the acquisition of
Cultos.io, the Web3 rewards application that enhances loyalty and
engagement. OV Loop® helps merchants and brands directly reward and
engage users via users’ private self-custody wallet, and helps
consumers protect their identity while letting them tap & pay
with their private cash at more places than Apple Pay®, Google Pay®
and Samsung Pay® combined.
"Our acquisition of Cultos underscores our commitment to
improving commerce experiences for consumers, merchants and
brands," said Will Graylin, CEO of OV Loop. "Our mission is to
close the commerce loop between buyers’ wallets and sellers’ POS,
to enable better user experiences and stakeholder economics for
everyone in the community.”
From the perspective of Cultos.io, “Joining forces with OV Loop
represents a unique opportunity to contribute to a more extensive
vision,” said Andrew Yang, CEO of Cultos. “It’s an opportunity to
elevate our technology to a broader audience and to be part of a
solution that spans beyond rewards, touching broader aspects of the
user engagement and transaction process.” Co-Founder and COO, Jeong
Woo Park added, “We are excited to bring our Web3 experience to OV
Loop and to contribute to a vision that aligns so closely with our
core values.” The Dubai-based Cultos Global, which licensed Cultos’
Web3 platform, will continue to exclusively service their customers
like Tata Elxsi in the Middle East, India, and other parts of
Asia.
Over the past few years OV Loop has acquired multiple
venture-backed fintechs to strengthen its team and technology and
has positioned itself to become a true super-app commerce platform.
It owns a powerful portfolio of mobile payment patents dating back
to 2011 that are now licensed by the world’s largest mobile wallet
providers. OV Loop is also asserting its IP rights and recently
filed an antitrust law suit against Mastercard to demand equal
access to bank tokens as Apple Pay and Google Pay, for its
cross-platform tap & pay wallet and super-app.
About OV Loop, Inc.
OV Loop built America’s only cross platform self-custody
tap & pay wallet and super-app that enables seamless
omnichannel payments, rewards, and engagement experiences. OV
Loop helps merchants, brands, and influencers build their
Own VIP Loop of direct relationships inside
customers’ super-app to more intimately and cost effectively
interact and transact everywhere. At the same time, OV Loop
empowers people to protect their own digital identities and to shop
and save from brands in their Loop more seamlessly. OV Loop
improves user experiences and unit economics for all parties in the
Loop to create powerful network effects not possible with
standalone apps.
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version on businesswire.com: https://www.businesswire.com/news/home/20240418631951/en/
Media: Margaret Bouse, Senior Vice President,
mbouse@ovloop.com 978-254-4805 Ext. 3