Paying the check at the end of a meal has been shown to cause anxiety in some restaurant diners, while for others the mere delay of the transaction is a time-eating frustration.
So when Glance Technologies Inc. (CSE: GET) (OTC: GLNNF) rolled out its flagship mobile fintech payment app Glance Pay back in 2016, the goal was to reduce wait times, and ultimately improve the consumer dining experience.
But before Glance Pay could really make an impact, it would need to secure the trust of both the diner AND the restauranteur.
This is where the expertise and track record of Glance Technologies Co-Founder Desmond Griffin was able to get his company’s foot in the door—and it was what followed that sealed the deal.
In order to maintain trust, both the diner and the restaurant owners would have to know that the transaction was safe on both ends. And according to Griffin, that’s easier to achieve from a smart phone than the customary transactions we’re accustomed to that involve plastic, chips, and signatures.
“There are so many lesser known functions inside a phone that we can use for access and verification in order to prevent fraud with our technology,” says Griffin, whose company just announced a remarkable 10th straight month without a single incidence of fraud.
A PERFECT 10-MONTH RUN
For those outside of the FinTech world’s inner circle, that feat perhaps needs to be re-stated…
As Glance Pay has exponentially gained adoption in restaurants across Canada, marking up more and more transactions each month… not one of those transactions has sounded an alarm for either the customer nor the restaurant. It’s an astounding record, in a sector where even a few hundred occurrences over that span would’ve been laudable.
But Glance Pay has achieved the near-impossible and has maintained a clean sheet for nearly a year, during its period of highest growth.
The security and adaptability of the company’s technology was enough to lure the #1 Global FinTech Influencer Spiros Margaris into the fold back in September, who now sits on the company’s Advisory Board.
For Margaris, a good deal of value should be placed into consumer trust, and his belief has always been that Glance Pay is primed to take off as it becomes a trusted household name—something a clean record can only help to solidify.
“People start trusting a company when they know a name. The more familiar with a brand name we become, the better it is for that brand to grow,” says Margaris.
“And it’s in that that I’m in love with Glance’s simplicity and arena of business. In some ways it’s like Uber, in terms of convenience. However, I think that its placement in the restaurant business is something that could turn into a huge success story.”
TAKING A 12-MONTH GLANCE AT GLANCE
If a restauranteur looks at the 10-month record with a grin, an investor will look at the 12-month record and smile from ear to ear.
Year-over-year, Glance Technologies has more risen more than 400% in value, hitting nearly $0.90 in the US from less than $0.20 the year prior. On its home exchange in Canada, year-over-year, the stock has climbed from $0.23 to $1.14 as of Nov. 3, 2017.
But while the stock has shown a relatively steady build towards Glance’s current-day prominence, the respect wasn’t just given out for free—Glance’s team earned the status it holds today.
Along the way, Griffin and his team have amassed a significant base of restaurants and diners utilizing the service, as well as subsidiary businesses that are also intriguing to the FinTech crowd.
Most recently was the announcement of Glance offering its stellar anti-fraud technology to prominent cryptocurrencies that include its own proprietary cryptocurrency launched prior, that’s based on its own rewards program.
The company’s coffers are also on the rise, given the astronomic increase in revenues, with Q3 2017 up 90% over Q2 2017, and up 55,874% over Q3 of 2016.
But the application of Glance Pay also goes beyond the dining experience.
The company recently signed a promising licensing agreement with Euro Asia Pay Holdings to cater to Asian tourists in North America.
Through its subsidiary Cannapay, Glance also recently acquired an Ayurvedic Wellness Product Line and its formulations, as well as a Lifestyle App.
And this is all in just the last 30 days.
So while the Glance team can formally celebrate its 10th straight month without fraud, it’s the company’s fleet of investors that can truly celebrate, as the stock’s run is even more impressive than Glance’s security record.
With over $9 million in cash on hand as recently as last month, fast-rising revenues, the support of prominent influencers, and a growing list of businesses using the app, Glance Technologies looks like it will have another great year ahead to follow up the fantastic run this last one has been.
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