Glance Technologies Inc. (OTCQB: GLNNF) (CSE: GET) is pleased to announce that it has launched its new Pay With Bitcoin feature. Pay With Bitcoin enables Glance Pay users to pair their cryptocurrency wallet with their Glance Pay account, and then purchase Glance Dollars with Bitcoin. Glance Dollars represent a credit that can be spent instantly at participating merchants within the Glance Pay ecosystem.
“We are continually building out new payment features to ensure our platform is at the forefront of technology,” says Glance Technologies CEO Desmond Griffin. “Pay With Bitcoin allows Glance users to unlock the value of their crypto assets for use in their everyday lives while seamlessly opening up a new cutting-edge payment method for merchants.”
Pay With Bitcoin marks an important step forward as Glance advances its blockchain infrastructure. Bitcoin is the world’s pre-eminent cryptocurrency, however, one of the challenges with Bitcoin payments are that transactions can take hours to complete. Glance’s new feature solves this problem by enabling lightning-fast payments.
Historically, one of the barriers to adoption of cryptocurrency payments by merchants has been the cryptic and complicated process of setting up cryptocurrency wallets and managing them. Glance will allow merchants to receive payments in fiat currency without requiring any knowledge of how to use cryptocurrency.
Glance believes that Pay With Bitcoin is a great complement to its Glance PayMe application that provides merchants of any size with an unparalleled suite of payment options, including powerful anti-fraud technology and a robust loyalty rewards program — all managed via the merchant’s own mobile device without the need of any extra hardware.
Glance notes that Square reported Bitcoin transaction sales of US$43 million in its third quarter of 2018, an increase of US$6 million over its previous quarter, demonstrating growing demand for Bitcoin related payments.