VANCOUVER, British Columbia, Nov. 20, 2017 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (CSE:GET) (GLNNF) (GJT) is pleased to announce the release of a new version of the Glance Pay app (already available for iOS, coming soon for Android) which provides expanded promotional and deal features, enhanced event functionality, and new user initiated payment capabilities.
The enhanced promotional functionality allows customers to redeem offers and discounts set by the retailer via a digital deals found directly on the Glance Pay app, reducing the need for costly traditional paper deals, coupons, and expired email offers, while at the same time offering flexibility and creativity for deals that are not feasible via traditional methods.
Groupon (market cap $2.31 billion) has demonstrated that there is massive demand for digital offers and the power they have to drive sales for businesses. Glance is taking digital deals to the next level with mobile technology and using it to build long lasting relationships between consumers and merchants instead of one-off transactions.
The enhanced event functionality makes it easier for consumers to find out about events occurring with their favorite nearby retailers. This geo targeted advertising allows merchants cost effectively reach consumers and drive them into their locations.
The user initiated payments enhancement allows users to initiate payments to any merchant on the Glance platform, which combined with Glance Pay’s other functionality, positions Glance’s product in a way similar to those that have been taking Asia by storm.
According to a report released by the UN-based Better Than Cash Alliance, users sent $1.7 trillion in total payments through Alibaba’s Alipay service last year, up from only $70 billion in 2012; Tencent’s WeChat users sent about $1.2 trillion in 2016, up from $11.6 billion in 2012.
“We view this release as a significant upgrade of our technology and we are excited to share it with consumers,” says Glance CEO Desmond Griffin. “As we continue to innovate and improve our technology, we believe our offering becomes increasingly compelling to consumers and merchants.”
About Glance Technologies Inc.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, geo targeted digital coupons, social media 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, merchant manager apps, a large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing. Glance Pay has entered into significant licensing agreements to access the cannabis, fitness and wellness, foreign student and tourist markets through Cannapay Financial Inc., Active Pay Distribution Inc. and Euro Asia Pay Holdings Inc. Glance Pay is building a network of international advisors and developing a cryptocurrency which will offer reward elements for use on its platform.
For more information about Glance, please go to www.glance.tech or contact:
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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: “will” “may” "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. 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 complete discussion of such risk factors and their potential effects which may be accessed through the Glance's profile on SEDAR at www.sedar.com. In particular, Glance may not be successful in building its planned cryptocurrency or there may not be sufficient support for the cryptocurrency to make it a success.