We have been following the story of Glance Payment Technologies (CSE: GET) for a while since they started getting some traction back in September.
We like this company and it “makes the grade”
Here are a few of the key areas that we weigh when assessing a company’s suitability.
- Management Track Record
- Near-Term Catalysts
- Financial Resources
At Equity Grades, we search for the deep value and that is why we when we heard this story, we wanted to share it with our readers…..
One day, Desmond Griffin was sitting down at his favourite local restaurant and found himself stressed and frustrated when waiting 15 minutes to get his restaurant bill and then waiting another chunk of time for a working wireless payment terminal at his table.
“What a royal waste of time!”….he thought…..
“Why wait for a wireless payment terminal if each one of us already has an advanced payment terminal in their hands, their smartphone?…
Wouldn’t it be smarter that we all just use our own phones for payments in restaurants so that we can settle the cheque with a quick glance?”
Desmond being a serial problem solver and entrepreneur figured he could find a solution to the frustrating restaurant experience. So he founded Glance Payment Technologies (CSE: GET), providing payment solutions to restaurants and its guests.
Glance Technologies has built an app that individuals can download to get better service with restaurants that support the application. As of April 2017, Glance had over 140 restaurants signed up across Canada, with 500 restaurants having expressed interest.
Glance’s app experience is simple; you download the app to your smart phone and you place you setup your account, and start ordering food at your favourite local restaurant.
This solution provide savings in time and effort to both the customer and the restaurant owner. The customer gets a smoother restaurant experience, the staff can easily respond to customer’s needs and the customer is free to pay at their own leisure, so staff will never leave a customer waiting to pay. In addition, it expands the company’s capacity to process payments in shorter periods of time.
Mobile payments are huge and now with the added security and traceability with blockchain technology, it is time for the rapid adoption into everyday life. Glance Technologies provides the route for which payment and blockchain technologies will be introduced into the restaurant business.
Glance Technologies is more than just an app for restaurant goers and owners. The app provides an incredible business solution but the hidden deep value in this company is not so much the app but the mobile payment technology at the centre of the app. The company has announced significant plans to incorporate blockchain technology into their mobile payment solutions and license out this technology to other companies.
The Glance cryptocurrency may be used throughout the Glance Pay app and its affiliated applications, as well as outside of the Glance Pay platform. Users of the Glance Pay mobile payment app will earn the new cryptocurrency as rewards every time they spend on the Glance Pay mobile payment network, whether they have paid with the new cryptocurrency or via other payment methods.
This will support rapid adoption of the cryptocurrency to a broad range of consumers, and it will often be the first cryptocurrency Glance Pay users will have ever received or used. The Blockchain currency will also support a top of the line payment security for other industries to use in their payment systems.
In June of this year, Glance announced it will receive $1 million CDN over the next year for a licensing agreement with Cannapay Financial Inc. to Glance’s mobile payment processing platform and its proven anti-fraud technology for legal business-to-business and business-to-consumer mobile payments in the marijuana industry.
Glance Technologies is an app that will change how payments are handled in restaurant. However, the company’s hidden value is creating secure and safe mobile payment technology and software to help other companies in growing industries.
With this recent news, we here at Equity Grades believes Glance Payment Technologies (CSE: GET) makes the grade.