GLANCE SUBMITS PROVISIONAL PATENT FOR E-COMMERCE SECURITY VIA GLANCE PAY ANYWHERE

Wednesday, September 20, 2017

September 20, 2017 – Vancouver, B.C. – Glance Technologies Inc. (CSE:GET.CN) (OTCQB:GLNNF) (CSE:GET.WT) (FKT:GJT) is pleased to announce it has filed a provisional patent with the United States Patent and Trademark Office for its latest invention which allows orders and payments initiated from traditional websites on any platform to be secured via mobile devices utilizing Glance’s robust anti-fraud technology.  This advancement enables lower fraud for merchants and more security for consumers, while allowing the convenience of ordering and initiating transactions from the web from desktop computers or any other connected device.


This will be the third patent application filed by Glance in a series of applications designed to protect Glance’s proprietary mobile payment system technology including its anti-fraud technology.  The patent application, once converted into an international Patent Cooperation Treaty (PCT) application and pursued in key jurisdictions throughout the world, is designed to provide significant commercial protection for Glance’s technologies.  Glance anticipates that it will continue to file additional patent applications as it continues to develop its innovative technology.


According to Chargeback:  Ecommerce lost nearly $7 billion to chargebacks in 2016. By 2020, ecommerce chargeback losses are expected to balloon to $31 billion.  Card not present (CNP) accounts for 60% to 70% of all card fraud in many developed countries.  Merchants in the United States are overwhelmingly targeted by fraudsters. In September 2014, the US experienced 52% of total attack volume, with the United Kingdom, China, and the Netherlands experiencing 9%, 8%, and 6% of attack volume, respectively.


Mobile devices offer a much broader array of security technology compared to desktops or laptops, creating a far superior security method of payment. As mobile devices continue their rapid technological advancement, new mobile technologies can be utilized to help even further secure transactions.


“With the ever increasing rate of e-commerce fraud we believe online merchants will prefer a more secure transaction.  Most customers ordering online via their desktop or laptop already have their smartphone sitting right next to them allowing them to verify, secure, and transmit payments all from Glance Pay.  We are taking advantage of the incredible array of technology on mobile devices and our own proprietary anti-fraud technology to help solve the problem of online payment fraud,” says Glance CEO Desmond Griffin, “Mobile payments are the future for internet payment security and, with our incredible anti-fraud track record and recent provisional patent filing, we believe we are well positioned for this future.”


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 and fitness and wellness industries through Active Pay Distribution Inc. and Cannapay Financial Inc.


In the long term, GlancePay intends to offer multiple payment channels in cryptocurrency and is reviewing with its senior development team to determine how cryptocurrency and blockchain may be used to strengthen security features and to broaden the utility of the payment system.  


About Cannapay Financial Inc.

 

Cannapay is a partially owned subsidiary of Glance Technologies. Cannapay combines traditional financial services with innovative technology to provide enhanced digital financial services to legally operating businesses in the cannabis industry. Cannapay currently has an app in development leveraging the Glance Pay mobile payment system for the cannabis industry. The app is available for international licensing.


For more information, contact:

Christina Rao

Vice President, Investor Relations

(604) 723-7480

[email protected]

 

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.


Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Specifically, the statements referring to Glance’s planned expansion in the United States and Canada, and the statement that Glance will expand its reach in the United States are forward-looking statements, and there can be no certainty that these statements will prove to be correct.

Although Glance believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.

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