VANCOUVER, April 12, 2017 /CNW/ - Glance Technologies Inc., (OTCQB:GLNNF), (CSE:GET.CN), (CSE:GET.RT), (FKT:GJT), is pleased to announce the launch of 'Glance Pay Anywhere', a new technology which enables Glance Pay merchant partners to send bills to customers anywhere, and securely receive remote payments from anywhere via the Glance Pay App. Glance Pay Anywhere can be used by virtually any merchant or service provider, such as restaurants, retail stores, private and health clubs, entertainment venues, hotels, law firms, accounting firms, musicians and landlords - making the potential market for this product well north of $600 billion (CAD).
In the restaurant space, 'Glance Pay Anywhere' is perfect for deposit payments for large groups, payments for catering, or payments for large corporate orders - all of which are areas that Glance Pay's restaurant partners have been requesting a solution for. Merchants can quickly and easily send bills and payment requests via Glance Pay Anywhere. Consumers are instantly notified of the pending payment request and can confirm and pay remotely with one tap of the finger, using the Glance Pay app, while still earning great rewards and receiving real time digital receipts. Additionally, consumers no longer have to share their payment details with a variety of merchants in an insecure manner (such as giving payment information out during a phone call), and instead can rely on a much more secure payment environment.
While this technology will significantly improve Glance's current offering within the $600 billion dollar restaurant industry, the technology is actually a universal payment system with far reaching applications. A wide variety of merchants will benefit from a fast, secure, low cost, anti-fraud payment technology that allows them to instantly send bills and receive payment remotely. Small-to-medium sized business owners currently struggle to deal with the high fraud and high processing rates surrounding phone-based orders. This also eases payment collection when billing for services that are provided remotely or are billed after the fact.
"We believe this new enhancement is highly disruptive and is another example of how we can leverage our existing technology to address new markets by adding unique innovations to our robust platform," says Glance CEO, Desmond Griffin. "We are very excited about the potential of this product and the early response to it. It is difficult to calculate how large the market for this product is, as it has such wide ranging applications."
In the past month Glance Pay went live in Ricky's all Day Grill in Victoria, a franchise within a 70 location chain spread, across Western and Central Canada. Encompassed within Glance's alliances are two well-known chains, MR MIKES Steakhouse Casual and Famoso Neopolitan Pizzeria, which include 61 locations, combined. With prospective meetings and current negotiations, Glance has engaged with more than 20 Canadian restaurant chains and has a sales pipeline of over 500 restaurants expressing interest and at various stages of Glance's sales proposal process. Management estimates that the 140 restaurants signed do combined revenues of over $200,000,000.
Glance Pay's 2017 revenue strategy and portfolio now include, processing fees for mobile payment transactions, a monthly fee package, in app marketing, digital marketing solutions, customer intelligence and feedback, and social media promotions. Additionally, as a result of its multi-faceted revenue strategy, Glance has entered into reseller agreements with firms such as Global Payment Solutions (NYSE:GPN), to be able to provide services that compliment its core mobile payment offering, and leverage the key relationships built via Glance Pay.
About Glance Technologies Inc.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, settle bills, access payment records and interact with merchants. Glance Pay intends to become the industry standard as one of the four pillars of payments, beside credit cards, debit cards and cash. Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, 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, a merchant manager app, an internal customer service app, a large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing.
For more information about Glance, please go to Glance Technology's website
SOURCE Glance Technologies Inc.
For further information: Christina Rao, Vice President, Investor Relations, (604) 723-7480, [email protected]