Cryptocurrency to Innovate Loyalty Rewards Program Industry

Vancouver-based Glance Technologies (OTCQB: GLNNF) (CSE: GET) has reshaped the way consumers pay with the release of its new mobile payment app, Glance Pay. The app allows users to pay using their smartphone devices, but now the Company has also integrated a new rewards program incentive into its platform.

Glance Coin, the new payment solution, will create a faster and easier way to send payments between the merchant and customer. Unlike most rewards program, Glance’s program will incorporate a digital coin, incentivizing its users with it.

Glance believes that the new program will enable a viral adoption of its technology among merchants and position Glance Pay to provide payment services similar to those booming in China.

“Cryptocurrency remains an enigma for many smartphone users and small- to medium-sized businesses,” says Jonathan Hoyles, Chief Commercial Officer and General Counsel with Glance. “We see a global opportunity to build an easily accessible platform where consumers can conveniently accumulate crypto loyalty rewards. We see real value for merchants who will be able to use our platform to incentivize their customers through the use of blockchain-based ‘smart contracts’.”

Glance Coin is built upon a smart contract blockchain technology which allows merchants to reward customers who purchase their products. The technology also includes an added layer of anti-fraud technology to protect its users.

“There’s been a lot of talk about integrating blockchain and cryptocurrencies into everyday transactions to improve people’s lives,” says Angela Griffin, Chief Technology Officer at Glance. “But there’s been very little application of that idea. With Glance Coin, we’re actually doing it that places us on the forefront of this technology.”

The coin can also be accepted by vendors as a form of currency, making it flexible for both ends of the party. Also, with Glance’s complementary application, Glance PayMe™, this allows businesses to adopt Glance Pay and Glance Coin without the use of third-party technology.

The user can then spend the accumulated coins for other products, incentivize other users or even exchange it for cash domestically and internationally. The new solution offers endless possibilities as opposed to traditional straightforward rewards programs.

“We’ve found that people like to save up their points and exchange them for large rewards,” said Hoyles. “Using Glance Coin, a member could earn loyalty rewards from multiple merchants and save them for an international vacation.”

A 2018 report by global customer-engagement agency Bond Brand Loyalty noted that the loyalty reward program market is growing rapidly. The report notes that the industry is growing significantly due to elevating customer experiences, evolving technology and new players.

The report noted that loyalty program membership has increased to USD 68 cents per in North America, South America and Europe in the past five years. More than 91% of members said they would want to connect their loyalty programs through new technology.

“If you believe in the potential of cryptocurrencies, it’s a natural extension to understand that a blockchain-based reward system is needed,” says Desmond Griffin, Chief Executive Officer at Glance. “The current loyalty reward market is fragmented, inefficient and static. Glance Coin will cut out the middleman and it can be used independent of physical objects such as paper and plastic. Once a loyalty program member earns reward tokens, they can carry them with them anywhere in digital wallets.”

Griffin noted that Glance has focused primarily on growing communities of engaged merchants and users of its Glance Pay app heavily in Vancouver, Toronto and southern California.

“We see the next stage of our growth arriving with the upcoming launch of Glance PayMe™. This will provide us with the platform to spread to more merchants, more quickly. We believe a downloadable merchant app combined with access to cryptocurrency loyalty rewards will be of great value to small- to medium-sized businesses.” said Griffin.

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