LoopPay is DOA. They are planning on adding tokens sometime this year (as the banks come on board), so for the time being all it's doing is just broadcasting your mag strip from your card.
And LoopPay is carefully choosing their words. They claim 90% of the POS terminals will work with their system, but they aren't saying what percentage of actual cards will work (as shultzter stated above, cards with chips won't work and will be refused by the terminal).
And just like Apple Pay (another system using the newest token system), LoopPay will have to wait until the banks start updating their software. Which means some LoopPay users will get excellent security from tokens, while others get no security at all. How are they going to explain this to customers (or will they simply not talk about it)?