LOS ANGELES, January 24, 2018 /PRNewswire/ --
FN Media Group LLC Presents USA News Group News Commentary
USA News Group - Used for all types of operations, like merchandise payments, ticketing, money transfers, and bill payments, US mobile payment transactions are now projected to reach a value USD$2.849 trillion in the year 2020-according to latest research.
The sky-high potential of this market is well known already to many FinTech investors, and development companies in the sector that includes Glance Technologies (OTC: GLNNF) (CSE: GET), Alphabet Inc. (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL), and Samsung Electronics Co., Ltd (OTC: SSNLF).
The study, which used 2015 numbers (USD$550 billion) as the base year for analysis, expects a whopping CAGR of 39.1% through to 2020, culminating in a value of USD$2.849 trillion.
Widespread acceptance in China of major mobile payment platforms has led to major gains from developers of platforms such as Alipay from Alibaba Group Holding Limited (BABA) and TenPay from Tencent Holdings Limited (TCEHY)-which hold a 54% and 37% market share, respectively.
In North America, however, though the market is already above USD$550 billion, there is still plenty of growth expected that will come with the adoption of easy-to-use mobile payment apps.
Such apps that are changing the way we pay for everything from toys to avocado toast, include Google Wallet from Alphabet Inc. (NASDAQ: GOOGL), Apple Pay from Apple Inc. (NASDAQ: AAPL), Samsung Pay from Samsung Electronics Co., Ltd (OTC: SSNLF), and the fast-rising restaurant app Glance Pay from Glance Technologies (OTC: GLNNF) (CSE: GET).
TAP, TAP, CHECKOUT
Possibly the fastest moving of any sector in North America, in terms of sheer number of transactions, is that of the food industry.
After the rollout of fast food brand Subway's 'Fresh Forward' stores with self-ordering kiosks that feature support for mobile payments, a survey was done to determine how many fast food eaters use mobile payments.
According to the survey, it was found that 44% of global fast food eaters had used mobile payment services in the prior month.
Much of that comes from Asia Pacific markets, where 51% of respondents said they had used their phones to pay the bill in the month before. Those included the trialed use of "smile to pay" facial recognition payments in China at KFC franchises, supported by Alibaba's Ant Financial affiliate.
While lower in comparison to their Asian counterparts, fast food eaters in Europe (32%) and North America (26%) are a consumer base that's higher than average in their respective regions for paying via mobile.
Therefore, a more wide-scale adoption can be expected to come through the food industry, perhaps faster than through big-box retail stores, such as Walmart and Target which have also recently launched mobile payment apps for their respective chains.
GLANCE PAY IMPROVING TABLE TURNOVER
Diners are becoming more accustomed to using an app to improve their dining experience-whether it's booking a reservation, delivering food, or paying the check.
Convenience is key, and time is precious for eat-in diners-especially during the noon-day lunch hour, when no one wants to be busted returning late to back to work.
Restaurant owners also want to improve table turnover, resulting in higher revenues during their establishment's prime times. The more diners they can serve in an hour, the higher the likelihood that their eateries will survive.
In an effort to shave valuable minutes off of everyone's least favorite part of the dining experience (paying the bill), Glance Pay from Vancouver-based developers, Glance Technologies (OTC: GLNNF) (CSE: GET) is improving the dining experience for customers across North America.
Streamlined and designed to revolutionize how we dine, Glance Pay is a mobile payment platform helping users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants.
Easy to use for both diners, and restauranteurs, Glance Pay is spreading wide across its home country of Canada and soon into the US and Europe in the near future.
Already, popular chains and independent restaurants are adopting Glance Pay, including Ricky's Restaurant Group with almost 150 locations in Canada, and now more recently, Fatburger Canada with 52 locations across the country.
Seeing Glance Pay as a brand leader-or potential Uber, or AirBnB of the restaurant industry-FinTech guru Spiros Margaris often ranked as InsTech's #1 FinTech Influencer in the world, joined the Advisory Board of Glance Technologies.
"I'm in love with Glance's simplicity and arena of business. In some ways it's like Uber, in terms of convenience. However, I think that its placement in the restaurant business is something that could turn into a huge success story," said Margaris upon the announcement of his Advisory Board appointment.
At the time of Margaris's addition to the team in late September, Glance's stock was trading at $0.375-Since then, the stock has hit a 52-week high of $3.20.
"If they can replicate what they've already done in Canada, in the US and worldwide, it'll be a billion-dollar company," added Margaris. "If it enters a major US centre at the beginning of next year, and executes in a popular state such as New York, I can see a $5 share price. The sky's the limit."
In addition to Glance Pay's ease of use, it's the app's stellar security record that has further driven its widespread acceptance.
As of November, Glance Technologies officially announced its 10th straight month free of fraud on the app.
Further improving upon its anti-fraud expertise, Glance Pay has introduced its own cryptocurrency which corresponds with the app's built-in customer loyalty incentives for both the restaurants and the app itself.
Much like the addition of Margaris, Glance brought in more expertise, through the appointment of Top 5 Blockchain Influencer, Dinis Guarda to the Advisory Board.
Along with the appointment, Glance acquired Guarda's company Ztudium's cryptocurrency technology, Blockimpact.
Much like the majors and their platforms, such as Apple Pay, Google Pay, Samsung Pay etc., Glance Pay is gaining momentum across multiple outlets, in many sectors. However, its strongest sector remains in the food industry.
Unlike for Apple, Google, and Samsung, investors in Glance Technologies still have plenty of blue-sky to look forward to, as they build out the brand either to market dominance, or being bought out by a major.
Alphabet Inc. (NASDAQ: GOOGL)
Alphabet Inc., more popularly known as Google, provides global online advertising services, as well as performance and brand advertising services. The Google segment includes principal Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome, Wallet and Google Play, as well as technical infrastructure and newer efforts, including Virtual Reality. Google Wallet is an encrypted app meant for peer to peer transactions. Alphabet Inc. was founded in 1998 and is headquartered in Mountain View, California.
Apple Inc. (NASDAQ: AAPL)
Apple designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players to consumers, small and mid-sized businesses, and education, enterprise, and government customers worldwide. Apple's Apple Pay is the company's contactless payment system for mobile phones, launched in 2014, and growing in popularity. Apple Pay is now available in millions of stores, like Nike, Ulta, and can be used online and in other apps and websites such as Airbnb and Lululemon.
Samsung Electronics Co., Ltd (OTC: SSNLF)
Samsung together with its subsidiaries engages in the consumer electronics, information technology and mobile communications, and device solutions businesses worldwide. The company provides mobile payment and communication system services, as well as manufactures and sells server semiconductor storage system. Samsung's mobile payment system, Samsung Pay, is designed to replace the plastic cards in your wallet. Samsung Electronics Co., Ltd. was founded in 1938 and is based in Suwon, South Korea.
For a more in-depth look into GET you can view the in-depth report at USA News Group: http://usanewsgroup.com/2017/06/28/trading-212-fintech-startup-takes-on-brokers-with-first-free-uk-share-trading-platform/
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