Breaking News: Glance Technologies Provides Anti-Fraud Update

Glance Technologies Inc. (OTCQB: GLNNF) (CSE: GET) is proud to announce that in the almost 2 years since it launched the current version of its proprietary fraud prevention technology, its platform has experienced less than 0.018% of its transactions being fraudulent across all of its live locations (which includes even what is called ‘friendly fraud’ whereby users mistakenly identify transactions as fraudulent). This represents less than one instance of fraud for every 5,500 transactions. Glance is not aware of any payment firms that have had this level of success with card-not-present transactions, providing an additional key competitive advantage. 

“We believe payment platforms that can reduce or eliminate fraud will be best positioned to succeed in the long run,” said Desmond Griffin, CEO of Glance Technologies. “That is why Glance has placed security and anti-fraud technology as its highest priority and at the core of its platform. Our best-in-class performance on security has been an important differentiator that has been key to us signing many of our merchant customers.”

Glance Pay has consistently demonstrated a high level of anti-fraud performance while other mobile payment providers have struggled to combat fraud. For example, it was recently reported by the Wall Street Journal that PayPal-owned Venmo’s transaction loss rate rose to 0.40% of overall Venmo transaction volume in March (which is more than 22 times higher than Glance’s aforementioned 0.018% performance). According to the Wall Street Journal, in the first three months of 2018, Venmo recorded an operating loss of about $40 million — nearly 40% larger than the loss for which the company had budgeted. Expenses related to fraudulent transactions were reported to be a big factor for these losses.1 The Wall Street Journal article also quoted a PayPal spokeswoman as saying that Venmo’s loss levels are lower than the overall average for PayPal and compare favorably to the industry.

Sponsored Content Release. Click for Full Disclosure

2 Comments
  1. Art Halvarson 5 months ago
    Reply

    fraud will always be an issue, investing in anti-fraud technology is important so that consumers know they are safe with the company’s payment platform

    • Craig Bitton 5 months ago
      Reply

      anti-fraud #technology not only identifies issues, but predicts and commands improvements to prevent future quality deterioration.

Leave a Comment

  • Sponsored Content Release

    FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

    Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For glance technologies inc. financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.