Glance Pay Enters $5 Trillion Dollar Retail MarketPicture Gallery, Telecommunication Equipment Monday, 10. April 2017
VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 04/10/17 — Glance Technologies Inc. (CSE: GET.CN)(CSE: GET)(FRANKFURT: GJT)(OTCQB: GLNNF), is pleased to announce the entry of its leading edge payment and rewards system, Glance Pay, into the enormous retail market. By launching Glance Pay in Vancouver with Juice Salon, Glance has demonstrated the flexibility and universality of their payment and rewards system and the ability of the platform to be leveraged into other verticals. In addition to restaurants, the technology is applicable to virtually any retail or service payment environment, from clothing retailers, to salons, to legal offices and beyond. The similarities of the needs and payment experience between the retail environment and quick serve restaurants are clear. Just as with restaurants, consumers in a retail or service environment benefit from fast, easy, secure payments with rewards and automatic electronic receipts. Retailers similarly benefit by providing a superior payment experience to their customers while encouraging repeat business through rewards, as well as opening another communication channel with their customers.
Quickly becoming a leader in mobile payments in Canada, and soon into the US, Glance Pay is now positioned to operate within the massive North American retail market, with total retail sales in North America expected to surpass $5 trillion (US) in 2016, with this trajectory only expected to continue (sources: eMarketer 2015, Franchise Help, Statista, IBISWorld 2015). This, in combination with the over $600 billion dollar (CAD) North American restaurant industry, makes for a very large potential market for Glance Pay–s product offerings.
“We are thrilled to be able to further demonstrate the power and universality of our payment and reward platform. Our users can now quickly and securely use Glance Pay while getting their morning coffee, getting ready for a big event at a salon, and having a night out on the town, all while earning great rewards,” says Penny Green, President & COO. “As we continue to add retailers, restaurants, and service providers to our platform, physical wallets are quickly becoming obsolete.”
Glance is excited to offer a complete mobile payment experience for any service that provides a bill payment. Unlike the varied and cumbersome experience of using a payment application for each singular business, such as the Starbucks mobile app, Glance Pay provides a fast, streamlined payment service in addition to curated restaurant discovery, automatic dining rewards, and on-going promotions. Users can now use the Glance Pay app for their everyday purchases with Glance Pay–s ability to penetrate entire neighbourhoods with a singular mobile payment opportunity.
About Glance Technologies Inc.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, settle bills, access payment records and interact with merchants. Glance Pay intends to become the industry standard as one of the four pillars of payments, beside credit cards, debit cards and cash. Glance is building a valuable network of merchants and consumers, and offers targeted in-app 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, a merchant manager app, an internal customer service app, a large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing.
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The Canadian Securities Exchange has not approved or disapproved of the contents of this press release.
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.
Glance Technologies Inc.
Vice President, Investor Relations