A clear vision and path to becoming the leader in the rapidly-growing mobile payments space
Leading edge proprietary technology that is fast, secure and user-friendly
A management team with a successful track record in the fintech sector
Strong financial position with no debt
Glance Technologies is the owner of Glance Pay and Glance PayMe, a pair of complementary smartphone payment applications that enable merchants to provide their customers with quick secure payments, digital rewards, and a better customer experience.
Mobile payments and digital currencies are replacing traditional payment systems. At Glance, we believe that payments will be predominantly transacted between smartphone devices and that consumers will be able to transact in digital currencies and be rewarded with digital loyalty rewards.
How people pay for things is changing. Consumers are increasingly trusting their smartphone to manage most aspects of their lives, including their wallet and bank account. Convenience, security, and benefits like rewards help motivate consumers to go mobile with their money.
Our Glance Pay and Glance PayMe Apps are at the forefront of this revolution in payments. Our technology enables merchants and users to make quick, convenient and secure payments. The ability to process payments more quickly has a direct impact on a merchant’s bottom line as it allows them to service more customers in a shorter period of time. Because our platform is built around the payment experience, we are able to gain special insights into the preferences of our merchants and users which allows us to develop new services and provide more tailored products
Digital Loyalty Rewards Program
We believe that a user-friendly loyalty rewards program is essential to competing in today’s marketplace. The most recent Colloquy Loyalty Census states that loyalty program memberships in the United States grew 15% over the two year period ending in 2016 hitting 3.8 billion compared to 26% growth rate reported for the prior two year period. Canada saw a growth of 35% – 175 million verified memberships – in 2016. However, while the loyalty reward market is growing, challenges still exist. Customers are more demanding than ever and expect personalized experiences that are tailored to their needs.
Glance’s platform provides merchants with a user-friendly digital loyalty rewards solution that enables merchants to automatically reward their customers and has been proven to increase customer loyalty within their business.
Cryptocurrency & Blockchain
Glance is working on a loyalty rewards-based cryptocurrency using blockchain technology. Our plan is to provide a loyalty program that allows Glance users to be rewarded in Glance Coin and spend accumulated rewards within a larger marketplace. We also anticipate that by rewarding Glance Users with our token, we will enable everyday individuals to get involved in the cryptocurrency and hopefully encourage widespread adoption. This blockchain-based rewards platform will allow flexible reward and loyalty structures to meet merchant needs based on smart contracts. For more information on our plans for a loyalty rewards-based cryptocurrency please see our white paper.
Security, Protection of Consumer Data and Anti-Fraud Technology
When digital security fails, the costs for a business, big or small, can be substantial. Recent high profile data breaches at Target, Home Depot and Equifax demonstrate how security breaches can cause significant long-term consequences. Businesses stand to see their relationships with customers suffer, perhaps permanently. At the same time, fraud is on the rise as fraudsters access breached credit card information on the dark web and use this information to make fraudulent transactions. Small merchants are often the victims that take the hit for these fraudulent transactions.
That is why Glance has placed security and anti-fraud technology as its highest priority. Glance’s anti-fraud technology is at the core of its platform. Glance’s platform has had an extremely low percentage of fraud and experienced zero fraud across all of its live locations for more than 16 consecutive months.
The Freelance Economy
Glance believes that the Freelance economy or “gig” economy represents an important shift in business and individuals earn income. The report “Freelancing in America: 2017” from Upwork, the most comprehensive measure of the U.S. independent workforce, estimates that 57.3 million of Americans are freelancing (36 percent of the U.S. workforce) and contribute approximately $1.4 trillion annually to the economy, an increase of almost 30% since the previous year.
Glance has invested in technology designed for the Freelance economy that empowers users and merchants — from retail and restaurants, to bookkeepers, website and app developers, part-time yoga instructors and freelancers of all kinds — to access a full suite of mobile payment solutions with no additional hardware required and a quick, simple setup process. Glance PayMe™ allows merchants to very quickly download an app to accept Credit Card and Visa/Mastercard Debit payments from Glance Pay users directly to their own mobile devices, with world-class built-in fraud-protection and loyalty rewards without the need for additional hardware.
Customer Experience & Continual Improvement
We believe that the key to our success is our relationship with our merchants and users and we are constantly working to improve those relationships. We seek to get market feedback as quickly as possible. Based on the feedback received, we are continuously innovating and updating our products to improve our customer experience.
Our Approach to Growth and Scale
In our current stage of growth, Glance is focused on maximizing the growth of its merchant and user base to leverage direct and two-sided network effects. Glance’s top priority is to increase the number of merchants where Glance Pay can be used. We believe that each additional merchant we add to the Glance Pay ecosystem increases the value of Glance Pay to its users. We believe two-sided network effects will occur as we add more users, as this will make Glance PayMe™ more attractive to merchants. Accordingly, Glance has put in place incentives to rapidly sign up merchants and users to Glance’s platform and did not initially charge monthly base fees to the original merchants who signed up for its service.
We believe that the best way for Glance to realize the value it is creating in its payments ecosystem is through a combination of transaction fees, software-as-a-service and complementary product and service offerings such as advertising and financial services. As Glance’s business model matures, we expect to receive payments for monthly and annual Software as a Service (“SaaS”) fees for premium services.
This web page 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, the expectation that Glance will accelerate growth and scale, the wide appeal of Glance PayMe™, the increased adoption of Glance’s platform, and Glance’s ability to realize value and receive payments for monthly and annual Software as a Service (“SaaS”) model fees for premium services. 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 effectiveness of Glance’s go-to-market capability in selling Glance PayMe™, risks that Glance’s software and applications may contain security problems, security vulnerabilities, or defects in design or manufacture, including “bugs” and other problems that could interfere with the intended operation of Glance PayMe™, risks related to the volatility of customer demand for Glance PayMe™, Glance’s ability to scale and update Glance PayMe™ to respond to customers’ needs and demands, and the possibility that the expected benefits from the launch of Glance PayMe™ will not be realized. 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 implement its plans, and that Glance PayMe™ will operate as intended. 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.
Glance Technologies Launches Glance PayMe™, Mobile Point of Sale (POS) Enabling Payments & Rewards for Freelancers & SMB’S
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