VANCOUVER, British Columbia, August 1, 2018 – Glance Technologies Inc. (“Glance” or the “Company”) (CSE: GET.CN) (OTCQB: GLNNF) (FKT: GJT) today announced that its second fiscal quarter of 2018 was the Company’s strongest ever for launches and merchant partner signings.
The Company signed 148 new locations and launched 59 new locations in its fiscal Q2 2018, making it Glance’s new best quarter to date for partner acquisitions and launches.
The Company has also been engaged in a period of rapid business development, having since inception secured commitments from a total of nearly 500 merchant locations across Canada and the U.S. to adopt the Glance Pay App as their mobile payments solution of choice. A cornerstone of the Company’s many restaurant partnerships are several signed restaurant chains, which boast lucrative businesses and an expanding footprint of franchised locations, including MR MIKES SteakhouseCasual, Ricky’s Group of Restaurants, Freshslice Pizza and the Steamworks Group of Companies.
During its first year of operations, Glance focused on developing and enriching the user experience of the Glance Pay App. Glance is now devoting significant resources to enhancing the Glance PayMe App — a downloadable merchant app requiring no extra hardware. These latest innovations are aimed at repeatedly bringing customers back to Glance-partnered establishments and, by demonstrating the power of the app to draw in new business, accelerating the growth of Glance’s merchant network. Glance also plans to expand this technology into the online shopping and e-commerce space by using our anti-fraud technology to help the many online merchants suffering high rates of fraud.
To date, merchant onboarding has been driven primarily by direct sales. Now, however, Glance is building the Glance PayMe App to allow any business or freelancer to download the app to their own mobile devices and set-up their account themselves without a visit from Glance staff. As well as helping merchants of all kinds get up and running very quickly to accept payments and leverage built-in smart rewards for customer retention, the Glance PayMe App is expected to greatly reduce the cost of deployment and of customer acquisition. Glance’s successful anti-fraud technology means our technology doesn’t need to rely on custom hardware for swiping cards or using chip and PIN machines. As well, the Company expects this new product will change our sales dynamics, allowing Glance to take advantage of online marketing while paving the way for viral adoption of the Glance PayMe App.
Glance has also recently announced that it is developing a rewards-based cryptocurrency built on blockchain technology, called Glance Coin. The Whitepaper outlining the company’s plans for Glance Coin can be found online at glancecoin.io. This coming development will empower Glance-partnered merchants to reward, incentivize and provide deals to their customers with a rewards crypto-token through Glance’s platform. Glance intends for the platform to enhance customer loyalty through the rewards token, which Glance users will be able to either spend promptly or accumulate for larger rewards within the broader Glance marketplace. This, combined with the merchant-empowering Glance PayMe App, is expected to become a powerful addition to Glance’s mobile payments ecosystem.
About Glance Technologies Inc.
Glance owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to shop, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. Glance offers targeted in-app marketing, geo-targeted digital coupons, 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 has also recently purchased a blockchain solution and is working on a rewards-based cryptocurrency, the whitepaper for which can be found on the company’s website.
For more information about Glance, please go to www.glance.tech.
For more information, contact:
VP Business Development
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: “may”, “believe”, “thinks”, “expect”, “exploring”, “expand”, “could”, “anticipate”, “intend”, “estimate”, “plan”, “pursue”, “potentially”, “projected”, “should”, “will” and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of Glance’s business strategies and its expectations concerning future operations (including advancing its technological roadmap), the expectation that Glance will accelerate growth of its Glance Pay network, expansion of the number of Glance merchants, launching a new downloadable merchant app, furthering the development of the Glance Coin rewards token, building a rewards-based cryptocurrency platform using blockchain technology, providing a loyalty mechanism that allows Glance Users to spend accumulated rewards within a larger marketplace, leveraging Glance’s anti-fraud technology to expand into online purchases, e-commerce and other markets, and enabling viral adoption of the merchant app. Although Glance considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among other things, the risk that Glance is unable to continuously add new merchants as planned, the risks related to the development of Glance Coin and integration into the Glance Pay app, risks related to expansion, both internationally and in North America, and risks related to, the business of Glance’s licensing partners. The forward-looking information in this press release is also based on certain estimates, forecasts and projections, as well as expectations, beliefs and assumptions, including, among other things, that Glance will be able to achieve its business objectives, that Glance will be able to develop proprietary software to implement its plans, Glance will be successful in obtaining and retaining clients and licensees for its software, that the new downloadable merchant app will enable merchants to quickly set up Glance Pay on their own devices, and that the blockchain platform will continue to develop and grow in utilization and adoption in the world. For additional information with respect to these and other factors and assumptions underlying the forward-looking statements in this press release, see the section entitled “Risk Factors” in the most recent Annual Information Form and Prospectus of Glance, which may be accessed through Glance’s profile on SEDAR at www.sedar.com. 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 statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.