Mobile Payment Technology strives Towards the Future

The worldwide mobile payment revenue in 2016 was 620 billion U.S. dollars and is expected to surpass 1 trillion U.S. dollars in 2019 according to TrendForce. Recent technological innovations have led to devices and applications that are more optimal to both the payee and the beneficiary. For a long time, piracy has been a concern, but mobile payment technology provides consumers with many possibilities, and business are in favor of it.

“Mobile payment is a game changer. We see people of all ages use their mobile phones in restaurants to take pictures of food to share on social media. Customers will love the convenience of paying for their bill with their mobile phone and collecting loyalty points. San Diego is ready,” says German Feuchte, owner of Ta’cul Mexican Cocina, which recently signed a deal with Glance Technologies Inc (OTCQB: GLNNF) (CSE: GET).

Glance Technologies is Vancouver based company, which is now operational in the United States. The Ta’cul Mexican Cocina restaurant located in California is the first U.S client to use the Glance Pay mobile payment app. Glance also announces that it has set up its United States head office in Silicon Valley.

“Our US expansion is key to our strategy of signing large North American restaurant chains,” says Glance CEO Desmond Griffin. “Silicon Valley is an ideal location for us to access the world’s premier high tech ecosystem as we continue to develop our technology.”

Glance has also expressed enthusiasm on utilizing the recently announced new face recognition technology presented by Apple Inc. (NASDAQ: AAPL). “By building a network of merchants and consumers on a mobile technology platform, we are positioned to take advantage of the relentless advancement of mobile technology… iPhone users that adopt Apple’s new Face ID will be able to pay more easily, quickly, and securely by glancing at their phone and paying with Glance Pay,” Desmond Griffin explained.

On Tuesday, Glance revealed that it has filed a provisional patent with the United States Patent and Trademark Office for its latest invention which allows orders and payments initiated from traditional websites on any platform to be secured via mobile devices utilizing Glance’s anti-fraud technology.  This advancement enables lower fraud for merchants and more security for consumers, while allowing the convenience of ordering and initiating transactions from the web from desktop computers or any other connected device. Security is clearly a focus for the company. “We are taking advantage of the incredible array of technology on mobile devices and our own proprietary anti-fraud technology to help solve the problem of online payment fraud,” the CEO added.

Disclaimer

Leave a Comment