try Yahoo Glance to Offer Anti-Fraud Technology for Cryptocurrencies
GlobeNewswire•November 2, 2017Comment
VANCOUVER, British Columbia, Nov. 02, 2017 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (GET.CN) (GLNNF) (GJT) is pleased to announce it will be using its highly successful proprietary anti-fraud technology in its own rewards based cryptocurrency to be built into Glance Pay, and that it will be available for licensing to other cryptocurrencies. Since Glance integrated the current version of its fraud prevention technology into the Glance Pay app 10 months ago, its platform has experienced zero fraud across all of its live locations.
“We are thrilled at the performance of our anti-fraud technology and are excited to apply it to the world of cryptocurrency, where we believe there is a large need,” says Glance CEO Desmond Griffin, “reducing fraud surrounding cryptocurrency conversions can help accelerate the growth of cryptocurrencies.”
Glance intends to apply elements of its anti-fraud technology to cryptocurrencies, to both secure transactions and to allow for lower fees associated with converting traditional currencies to and from cryptocurrencies. As an example, Coinbase (coinbase.com), one of the largest cryptocurrency trading platforms, currently charges users a fee of 3.99% for credit or debit card purchases of cryptocurrency, in addition to anything they may make on the spread of the transaction, which is much higher than rates experienced by traditional merchants.
Glance has been successful in licensing its mobile payment technology, with $3 million in licensing agreements signed in since May 2017. With its solid team of software engineers, Glance is developing uses for its anti-fraud technology in cryptocurrencies. It is now reaching out to its extensive fintech network to find opportunities to license its technology or partner with companies developing blockchain technologies.
About Glance Technologies Inc.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, geo targeted digital coupons, social media marketing, customer feedback, in-merchant messaging and custom rewards programs. The Glance Pay mobile payment system consists of proprietary technology, which includes user apps available for free downloads in IOS (Apple) and Android formats, merchant manager apps, a large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing. Glance Pay has entered into significant licensing agreements to access the cannabis, fitness and wellness, foreign student and tourist markets through Cannapay Financial Inc , Active Pay Distribution Inc. and Euro Asia Pay Holdings Inc. Glance Pay is currently working on a cryptocurrency with reward elements for use on its platform.
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