VANCOUVER, British Columbia, November 15, 2017 /PRNewswire/ --
Glance Technologies Inc. (CSE: GET) (OTCQB: GLNNF) (FKT: GJT) is pleased to announce a new version of the Glance Pay Merchant app which will allow merchants to download the app and accept Glance payments and rewards within minutes, with no custom hardware required. Glance believes this should help enable viral adoption of its technology amongst merchants and position Glance Pay to be able to provide payment services that are similar to the ones exploding in China.
According to a report released by the UN-based Better Than Cash Alliance, users sent $1.7 trillion in total payments through Alibaba's Alipay service last year, up from only $70 billion in 2012; Tencent's WeChat users sent about $1.2 trillion in 2016, up from $11.6 billion in 2012.
Companies like Square have done a fairly good job of making it easy for merchants to be up and running to accept payments. However, their solutions require custom hardware, which is an extra expense and barrier and requires waiting for hardware to be delivered. Glance's track record of success with it's anti-fraud technology means it doesn't need to use custom hardware for swiping cards or using chip and pin machines.
"We are excited about opening our merchant app to a much larger audience and allowing them to get up and running very quickly with our upcoming app," says Glance CEO Desmond Griffin. "And if you look ahead, custom hardware is not required to process cryptocurrency payments, and thus we believe we are well positioned with this new app."
About Glance Technologies Inc.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, geo-targeted digital coupons, social media marketing, customer feedback, in-merchant messaging and custom rewards programs. The Glance Pay mobile payment system consists of proprietary technology, which includes user apps available for free downloads in IOS (Apple) and Android formats, merchant manager apps, a large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing. Glance Pay has entered into significant licensing agreements to access the cannabis, fitness and wellness, foreign student and tourist markets through Cannapay Financial Inc., Active Pay Distribution Inc. and Euro Asia Pay Holdings Inc. Glance Pay is building a network of international advisors and developing a cryptocurrency which will offer reward elements for use on its platform.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information or forward-looking statements (collectively "forward- looking information") within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: "will" "may" "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Glance cautions investors that any forward-looking information provided by Glance is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking complete discussion of such risk factors and their potential effects which may be accessed through the Glance's profile on SEDAR at http://www.sedar.com in particular, Glance may not be successful in building its planned cryptocurrency or there may not be sufficient support for the cryptocurrency to make it a success.
SOURCE Glance Technologies Inc.