VANCOUVER, British Columbia, April 16, 2018 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (CSE:GET.CN) (OTCQB:GLNNF) (FKT:GJT) is pleased to announce is upcoming Ticket Pay feature within its Glance Pay platform, further demonstrating the platform’s flexibility, value, and applicability to a wide range of payment scenarios. The initial feature will allow users to pay for parking violation tickets at the time of receipt simply by snapping a picture of the ticket via the Glance Pay app and confirming the amount - thus reducing headache for consumers and potentially saving them significant money due to eliminating late payment fees and possibly vehicle impound fees. Additionally, Glance is exploring the potential to apply this to other types of tickets such as traffic violations.
A common scenario for consumers today who park in urban areas is to return to their vehicle to find a dreaded $70 parking violation ticket on their windshield. If the ticket is not paid within a limited number of days, the payment amount can increase significantly, sometimes by $35 or more. Consumers often throw the ticket in their car and carry on, hoping to remember to pay it sometime in the future. Often the payment options are not convenient. For example, some jurisdictions still require payment for traffic violations to be done by mailing checks. And if a few unpaid parking tickets buildup, consumers’ vehicles may be towed and impounded, which is quite inconvenient and costly.
Glance Pay intends to initially launch a trial version of its ticket payment capability in one geography to help solve this problem for consumers - and to potentially save them money and headache surrounding ticket payments. When a user receives a ticket, on the spot they will be able to just snap a picture of the ticket via the Glance Pay app, confirm its amount, and the ticket will be paid.
Parking tickets are a significant industry, with some individual parking authorities generating more than $100m annually from parking infraction notices alone1.
“The hassle of paying for parking and traffic tickets is something that we have wanted to solve for some time,” says Glance CEO Desmond Griffin, “This is a natural fit for our Glance Pay application and we are excited by the opportunity it presents. We believe there are many more payment scenarios like this which can benefit from our technology to improve convenience for consumers and operators alike.”
About Glance Technologies Inc.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to shop, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards and interact with merchants. Glance offers targeted in-app marketing, geo-targeted digital coupons, 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 has also recently purchased an end-to-end blockchain solution and is working on a rewards-based cryptocurrency intended to be integrated into the Glance Pay app.
More information about Glance can be found at www.glance.tech.
| For further information | ||
| David Jan | Paola Ashton | |
| Investor Relations | VP Business Development | |
| 1-866-258-1249 | 604-839-0337 | |
| investors@glancepay.com | ||
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Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “may”, "believe", “thinks”, "expect", “exploring”, “expand”, “could”, "anticipate", "intend", "estimate", “plan”, “pursue”, "potentially", “projected”, “should”, “will” and similar expressions, or are those, which, by their nature, refer to future events. These statements, which involve risks and uncertainties, relate to the discussion of Glance’s business strategies and its expectations concerning future operations, margins, sales, new products, new licensing arrangements, potential acquisitions, use of proceeds, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. Such risk factors include, among other things, the risks related to the development of a rewards-based cryptocurrency and integration into the Glance Pay app. For additional information with respect to these and other factors and assumptions underlying the forward looking statements in this press release, see the section entitled “Risk Factors” in the most recent Annual Information Form and Prospectus of Glance, which may be accessed through Glance's profile on SEDAR at www.sedar.com. Glance cautions investors that any forward-looking information provided by Glance is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
1 https://www.toronto.ca/legdocs/mmis/2015/gm/bgrd/backgroundfile-78144.pdf