Twitter Facebook LinkedIn YouTube

Glance Technologies has granted Fobi Pay Technologies a non-exclusive license to use Glance’s technology

Video Platform Video Management Video Solutions Video Player

For a $5 million fee, Fobi Pay will have use of the Glance Pay mobile payment, security, anti-fraud and Glance Coin blockchain technology for a one-year term, renewable annually for $10,000 per year.

Additional Information:

Company: Glance Technologies Inc
Website: http://www.glance.tech
Stock Symbol: CSE: GET
Date Published: Jan 23, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for InvestmentPitch media

Glance Technologies, has granted Fobi Pay Technologies a non-exclusive license to use Glance’s technology.

For a $5 million fee, Fobi Pay will have use of the Glance Pay mobile payment, security, anti-fraud and Glance Coin blockchain technology for a one-year term, renewable annually for $10,000 per year.

Rob Anson, CEO of Fobi Pay, stated: “Fobi Pay will offer big data analytics for networks of related businesses. Our value prop is in merging purchase basket and historical data with social media and mobile data to create highly personalized customer journeys. By licensing the Glance technology we will be able to offer a closed loop digital media and mobile strategy for our industry partners.”

Fobi Pay is also licensing big data analytics, social wifi and their real time offers engine platform from Fobisuite Technologies for a fee of $5,125,000.

Additionally, Fobisuite, for a fee of $1.5 million, has agreed to grant Glance a license to use Fobisuite’s technology of which allows for the digitization of receipts for data collection and the ability to customize and append receipts with advertisements, deals and coupons for merchants.

By combining the Glance and Fobisuite technologies, Fobi Pay will develop the technology for servicing a network of merchants localized around a common theme such as shopping centers, professional sports leagues, and tourist
associations.

Fobi Pay has the potential to capture data from itemized receipts, combine it with any pre-existing online shopping histories, match to social media profiles and attribute the purchases to an individual shopper.

Fobi Pay’s target clients will potentially be able to access big data analyzed and interpreted by artificial intelligence for retailers in the space and combine with a white label version of Glance Pay to allow their shoppers to process in-location mobile payments.

Users of the white label app will potentially have access to Glance’s cutting edge blockchain based loyalty rewards program, Glance Coin, as well as receive real-time exclusive and personalized deals and coupons derived from big data analysis.

Desmond Griffin, CEO, stated: “Fobisuite’s agnostic technology platform will allow us to bypass traditional integrations with POS systems to access real time bill and payment information, increasing the value of our systems for merchants and improving our merchant adoption rate. Additionally, this opens up further revenue opportunities from real-time targeted advertising and big data analytics. We believe this is complementary to our current
Glance Pay platform and are excited to begin implementing this technology.”

International Data Corporation, the premier global provider of market intelligence the information technology, telecommunications, and consumer technology markets forecasts that “worldwide revenues for big data and business analytics will grow from $130.1 billion in 2016 to more than $203 billion in 2020 and that ‘Data monetization’ will become a major source of revenues, as the world will create 180 zettabytes of data (or 180 trillion gigabytes) in 2025, up from less than 10 zettabytes in 2015.”

To date, Glance Pay, owned and operated by Glance Technologies, has entered into significant licensing agreements totaling $9 million with Active Pay Distribution, Cannapay Financial, Cannabis Big Data Holdings, Fobi Pay and Euro Asia Pay Holdings.

Glance Technologies Co-Founders, Penny Green and Desmond Griffin, are attending the inaugural Crypto HQ Conference to be held in Davos, Switzerland from January 23rd to 26th during the World Economic Forum, where they will be networking and sharing ideas with other global thought leaders on how blockchain and cryptocurrency can revolutionize both society and business

They will also be speaking at a number of panels including Women and Inclusion in Blockchain, Future of Investment and Capital Raising, and Future of Purchasing and Consumption.

The shares are trading at $1.72.

For more information please visit the company’s website www.glance.tech or contact Christina Rao, Vice President, Investor Relations, at 604-723-7480 or email investors@glancepay.com

I’m Samantha Deutscher for InvestmentPitch media