Twitter Facebook LinkedIn YouTube

Glance Technologies (CSE:GET) Intends to Launch a New Cryptocurrency

Video Platform Video Management Video Solutions Video Player

Glance Pay, a subsidiary of Glance Technologies, has developed a mobile payment system, consisting of proprietary technology, which includes a number of user apps, currently available for free downloads in Apple and Android formats.

Additional Information:

Company: Glance Technologies
Website: http://www.glance.tech
Stock Symbol: CSE: GET
Date Published: Oct 31, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for InvestmentPitch media

Glance Technologies intends to launch a new cryptocurrency giving customers the opportunity to earn cryptocurrency rewards every time they use the Glance Pay app to make a payment.

Glance Pay, a subsidiary of Glance Technologies, has developed a mobile payment system, consisting of proprietary technology, which includes a number of user apps, currently available for free downloads in Apple and Android formats.

Glance’s new cryptocurrency can be used throughout the suite of Glance Pay and its affiliated applications as well as outside Glance Pay’s platform, earning cryptocurrency rewards with every transaction, even when the payment is made with a cryptocurrency.

Management believes this will support rapid adoption of the cryptocurrency by a broad range of consumers, giving many their first cryptocurrency experience.

Cryptocurrency growth is exploding, with the capitalization for bitcoin alone exceeding US$105 billion according to CoinMarketCap.com, with the total capitalization of the top 100 cryptocurrencies surpassing US$181 billion.

Angela Griffin, CTO of Glance, stated: “We believe that there is an enormous potential for cryptocurrencies to change the payments and rewards landscape. We are excited to leverage blockchain technology to disrupt the global payments industry with our proven mobile payment and anti-fraud technologies.”

Since integrating Glance’s current version of anti-fraud technology into the Glance Pay app this year, the platform has experienced zero fraud across all of its live locations, a considerable achievement compared to the 6% fraud that Apple Pay saw on its launch.

This year Glance launched Glance Pay Anywhere, which allows merchants to send bills and payment requests to customers, no matter their location.

The apps popularity combined with its high level of security and business model have made it an attractive licensing partner in a variety of high-growth industries, with the company having signed $3 million in licensing agreements to date.

These sectors include the legal marijuana industry, health, fitness and beauty.
--
According to consulting firm iResearch, in 2016, China’s mobile payments industry hit US$5.5 trillion, roughly 50 times the size of America’s US$112 billion.

To address this potential market, Glance recently announced a licensee with Euro Asia Pay, tailored for the Chinese community in North America.

Glance continues to expand its development team and technical capabilities, recently announcing the addition of three cryptocurrency experts to its advisory board.

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.

Through its licensing strategy, Glance is diversifying its holdings by acquiring equity positions in emerging high growth companies.

Following its IPO in September 2016 at $0.15, the company has demonstrated remarkable growth

Glance shares are trading at $1.09, and with 122 million shares outstanding, the company is capitalized at $133 million.

It is showing no signs of slowing down its growth, which has been accelerating due to its recent funding success, with more than $9.4 million in funds available.

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