VANCOUVER, British Columbia, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (“Glance” or the “Company”) (CSE:GET) (OTCQB:GLNNF) (FKT:GJT) is pleased to announce it has officially launched its ‘Real-Time Bill™’ feature to the public at select locations, with many other locations lined up for launch.
‘Real-Time Bill™’ is a cutting-edge new feature that enables users to view and pay their bill in real time directly from the Glance Pay™ App whenever they are ready to leave, without needing to wait for a paper bill. The app identifies the user’s bill based on Quick Response (QR) codes or Near-field communication (NFC) tags at their table and accesses and settles the appropriate bill in real-time from the merchant’s point of sale system.
“It’s hard to understand the magnitude of the improvement in dining experience that Real Time Bill delivers until you try this in a live setting,” says Desmond Griffin, Glance Technologies CEO, “The reactions we are getting from merchants and consumers when they experience this technology have been very strong.”
‘Real-Time Bill™’ provides merchants and customers with a quicker and more convenient experience, the bill can be received and settled from the Glance Pay™ App without the need for paper or a handheld payment machine, eliminating frustrating wait times. ‘Real-Time Bill™’ significantly improves the experience for consumers and allows restaurants to turn their tables over much faster, resulting in more revenue, lower staffing costs, and happier customers. These innovative features make the Glance platform even more attractive to potential merchants and will improve the Company’s ability to generate both transaction and Software as a Service (SaaS) fees.
Glance is also pleased to announce that we exhibited at the Restaurants Canada Show in Toronto on February 24th to 26th. The RC Show is ‘The Hospitality Event of the Year’ and is Canada’s largest foodservice trade show, with more than 18,000 restaurateurs & key industry players in attendance. Glance was proud to be a presenting partner of the Restaurant of the Future experience, demonstrating the power of Glance mobile payments to the thousands of attendees at this flagship event.
In related news about the mobile payment industry, PayPal CEO Dan Schulman recently told CNBC that the digital payments industry may become a $100 trillion market as the financial technology sector continues to grow rapidly. “We live in the space of digital commerce and digital commerce is exploding still around the world,” said Schulman. “It's a multi-hundred-billion-dollar marketplace. This will definitely not be a winner take all.” (https://www.cnbc.com/2019/02/19/digital-payments-could-grow-into-a-100-trillion-market-paypal-ceo.html)
In an unrelated development, Glance also notes that it has received its equity compensation from its License Agreement with Active Pay Distribution Inc. (“Active Pay”), however, due to Active Pay’s failure to pay the annual renewal fees that are required under the terms of the Agreement, Glance has terminated the License Agreement.
Glance continues to review and modify its projects, affiliations, structure, and costs to improve its efficiency.
About Glance Technologies Inc.
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.
For more information about Glance, please go to www.glance.tech.
For more information, contact:
Paola Ashton
VP Business Development
(833) 338-0299
investors@glancepay.com
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: “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, Glance’s expectation that the restaurants it has lined up to launch Real-Time Bill will actually launch, Glance’s expectations that restaurants will be able to turn tables over faster with Real-Time Bill resulting in more revenue, lower staffing costs, and happier customers for restaurants, and that the Glance Pay platform will be even more attractive to potential merchants and will improve the Company’s ability to generate both transaction and Software as a Service (SaaS) fees. 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, 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 its software, risks related to the volatility of customer demand for Glance’s products, and the possibility that the expected benefits from the launch of new features 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 and technology development objectives. 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.