NEW YORK, September 13, 2018 /PRNewswire/ --
According to a new report published by Transparency Market Research, the global mobile payment technologies market was valued at USD 2,943.58 Billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of 37.8% from 2018 to 2026. Mobile payment technology allows customers to make immediate payments through portable electronic devices such as smartphones, tablets and smartwatches. The report indicated that the growing adoption of smartphones across emerging economies as well as advanced technologies such as near field communication (NFC) and point of sale (m-POS) are expected to drive the growth of mobile payment technology market. Glance Technologies Inc. (OTC: GLNNF), Bank of America Corporation (NYSE: BAC), Square, Inc. (NYSE: SQ), First Data Corporation (NYSE: FDC), Fiserv, Inc. (NASDAQ: FISV)
Based on type, the mobile payment market can be segmented into proximity payment and remote payment. Increasing use of mobile payments in online shopping drives the growth of the remote payment segment. Based on end-use industry, the market is divided into hospitality and tourism sector, BFSI, media and entertainment, retail sector, healthcare, education, IT & Telecommunication and others. The retail sector is expected to grow at the fastest rate during the forecast year. Asia Pacific is expected to hold more than 50% of the global market in 2026, followed by North America.
Glance Technologies Inc. (OTCQB: GLNNF) is also listed on the Canadian Securities Exchange under the ticker (CSE: GET). Recently, the Company announced breaking news that, "its Glance Pay & Glance PayMe™ mobile payments platforms now fully integrate with 15 of the leading restaurant & merchant Point of Sale systems, including Oracle MICROS, NCR Aloha POS, and Squirrel POS.
Adding integrations to this wide an array of Point of Sale systems now enables Glance to directly connect to more than an estimated 500,000 different POS installations in North America.
POS integrations allow Glance to send and retrieve information directly to the POS, removing manual steps and opening up new opportunities for Glance's technology such as auto-closing bills, pulling bills electronically, and auto-inserting orders.
"Creating integrations with such a wide range of POS systems is another step forward in making Glance Pay the mobile payments platform of choice for a wide range of businesses," says Glance Technologies CEO Desmond Griffin. "Integrations are particularly important for larger chains which makes this a significant development for us."
Some of the more well-known POS systems that Glance can now integrate with include:
- MICROS (Oracle)
- Squirrel POS
- NCR Aloha POS
- Oracle Hospitality Simphony
- InfoGenesis POS
- Heartland Dinerware
- Maitre'D POS
By making it faster and easier for merchants and restaurants to resolve payments, Glance Pay is giving restaurant and merchant staff both more time to help patrons and speed turnover, and more peace of mind that nothing was missed, no matter how busy the location is."
About Glance Technologies Inc. - Glance owns and operates Glance Pay, a streamlined payment system that revolutionizes how smart phone users choose where to shop, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards, and interact with merchants."
Bank of America Corporation (NYSE: BAC) is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America announced earlier this year that its customers can now seamlessly add multiple credit and debit cards to their PayPal account directly from the bank's mobile banking app, making it even easier to shop how, where and when customers choose. This marks the initial integration from the partnership that was announced in July 2017. Later this year, customers will also be able to add their cards seamlessly within the PayPal experience. These initiatives are part of Bank of America's ongoing commitment to deliver innovative payment solutions and choice to the bank's more than 24 million active mobile users. "It's all about providing our customers the most convenient and secure payments experience possible," said Mark Monaco, Head of Enterprise Payments at Bank of America. "As the face of money continues to become more digital, Bank of America remains committed to giving our customers the ability to use any major wallet or payment method they choose, including PayPal."
Square, Inc. (NYSE: SQ) creates tools that help sellers start, run, and grow their businesses. Square, Inc. recently announced it has delivered on its promise of making EMV transactions even faster for business owners and buyers in the U.S. Sellers can now process chip cards in just two seconds on Square Reader for contactless and chip and Square Register. "Since chip cards arrived in the U.S., we have focused on making our chip reader fast for our sellers, and three seconds or more wasn't quick enough," said Jesse Dorogusker, Head of Hardware at Square. "Taking an EMV payment in as little as two seconds helps speed up the line for our sellers, gives time back to their customers, and reduces in-store fraud in the U.S. Square sellers don't need to compromise performance to reap the benefits of newer, more secure technology like EMV."
First Data Corporation (NYSE: FDC) is a global leader in commerce-enabling technology, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. First Data recently announced an integration with the Ellie Mae® (NYSE: ELLI) Encompass Consumer Connect™ lending platform. Together, the two companies will integrate secure payments technology to process mortgage and appraisal fees, allowing Ellie Mae customers to accept payment for all costs related to the lending process-including loan origination, processing, underwriting, and credit reports. "First Data is thrilled to deliver our fast, simple and secure payment technology to the banks, credit unions, and mortgage lending companies Ellie Mae serves," said Jeff Shanahan, Executive Vice President, Head of CardConnect at First Data. "Our relationship will enable Ellie Mae to deliver a simple and secure solution for its clients and further enhanced consumer engagement for lenders."
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services experiences in step with the way people live and work today. Fiserv, Inc. recently announced its debit gateway solution will enable US Alliance Group, Inc. (USAG) to offer enhanced processing capabilities, as well as greater scalability for USAG to grow its Payment Processing business. USAG is a leading payment processor, providing transaction-processing capabilities to more than 30,000 retailers, including point-of-sale (POS), ATM, card not present and Accel® debit payments network signature debit (ANP+) through its sponsor and settlement bank Evolve Bank & Trust. "Forward-looking merchants of all sizes rely on USAG for its industry-leading transaction processing capabilities," said David Keenan, SVP, Product Management, Card Services, Fiserv. "We are pleased to help USAG augment those capabilities through diverse, innovative solutions such as debit signature routing, secure e-commerce processing, least-cost routing, and CardFree Cash."
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