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These kinds of announcements are becoming more common place, as FinTech options are arriving across multiple retail outlets, and restaurants. The result has been a rising interest from investors interested in Mobile Payment related companies, such as Glance Technologies (OTC: GLNNF) (CSE: GET), Apple Inc. (NASDAQ: AAPL), Visa Inc. (NYSE: V), and Square Inc. (NYSE: SQ).
As the name suggests, Target's Wallet allows customers to use their mobile devices to process their order checkouts-saving both money (through digital coupons and discounts) and time.
The announcement follows in the shadow of even larger retail giant, Wal-Mart Stores launching Walmart Pay, which has been predicted to surpass Apple's Apple Pay-the current king in mobile payment apps.
These successful apps aren't restricted to big box retail stores, as restaurants and chains have taken on their own options, like the very popular app from Starbucks called Starbucks Order and Pay.
However, the biggest potential is coming from the mobile payment apps that have the wider use across chains and locations. That includes fast-rising restaurant payment app Glance Pay, from developers Glance Technologies (OTC: GLNNF) (CSE: GET). Backed by an all-star team of FinTech developers and influencers, Glance Pay is growing fast across restaurants, with its stellar record of zero fraud over nearly a year.
Other major apps have been gaining rapid acceptance across the market are coming from much larger corporations, such as Apple Inc. (NASDAQ: AAPL), Visa Inc. (NYSE: V), and Square Inc. (NYSE: SQ). The future of Point-Of-Sale payment is looking more and more like it'll be done over the phone.
FASTER TRANSACTIONS, BIGGER GAINS
The mobile-based payment market is set to explode in the next couple years
Back in 2014, research firm Forrester, predicted in the US alone the market is expected to hit $142 billion in 2019.
However, the global expectation by 2020 is now much, much higher-with the mobile payment transaction market expected to touch $2.85 trillion.
As the technology has improved, so too has the attitude of consumers to use their phones for payment.
That acceptance is still drawing skeptics, but as safety improves, and location options grow, the wave of mobile payments increases momentum.
So far, the adoption of mobile payments from big players such as CVS, Kohl's, Target, and Wal-Mart has shown that a singular chain app can and will be accepted by loyal consumers.
However, as many mobile users get bombarded by newly offered apps, a built-in advantage will be seen by the apps that can be used in more and more locations, making the loyalty fall towards the app and its developers itself.
GLANCE PAY THE CHECK
In a parallel way, it's restaurants that are accepting mobile app integration at a rate as fast, or faster than the big box retailers.
Whether it's through using an app to book a reservation, delivering food, or paying the check, phones and food are becoming fast friends.
Restaurant diners want their experiences to be swifter from start to finish.
One app that's helping to shave valuable minutes off of everyone's least favorite part of the dining experience (paying the bill), is Glance Pay from Vancouver-based developers, Glance Technologies (OTC: GLNNF) (CSE: GET).
Glance Pay is a streamlined payment system designed to revolutionize 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.
Easy to use for diners, and more importantly, easy to adopt by restauranteurs, Glance Pay is fast becoming a go-to app across its home country of Canada-with expectations of wider adoption across the US and Europe in the near future.
Glance Pay has already been adopted by popular chains in Canada such as Ricky's Restaurant Group with almost 150 locations in Canada, and now more recently, Fatburger Canada with 52 locations across the country.
It's this rate of expansion and potential that drew the interest of FinTech guru Spiros Margaris who regularly ranks as the #1 FinTech Influencer in the world, according to the InsTech Top 100.
"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," said Margaris upon accepting a role on Glance's Advisory Board.
At the time of Margaris's addition to the team in late September, Glance's stock was trading at $0.375-Currently the stock is over $1.50.
"If they can replicate what they've already done in Canada, in the US and worldwide, it'll be a billion-dollar company," added Margaris. "If it enters a major US centre at the beginning of next year, and executes in a popular state such as New York, I can see a $5 share price. The sky's the limit."
Confidence in Glance Pay as a game-changer app goes beyond just the stock price-both diners and restauranteurs are happy with the high-standard of security the app brings with it.
It's this level of security which is so appealing for the app, and what makes it a plausible future takeout target. As of November, Glance Technologies officially announced its 10th straight month free of fraud on the app.
Through its anti-fraud expertise, Glance Pay is incorporating its own cryptocurrency that will correspond with the app's built-in customer loyalty incentives. Like Margaris, Glance has gone on to bring in more expertise, through the addition of Blockchain Influencer, Dinis Guarda to the Advisory Board.
As part of the addition, Glance also acquired Guarda's company Ztudium's cryptocurrency technology, Blockimpact.
In addition to the Glance Pay anti-fraud protection, and the addition of Blockimpact, Glance Technologies has also secured itself as a solution against fraud in the upcoming legal cannabis market, through its subsidiary Cannapay.
Much like the majors and their platforms, such as Apple Pay, Google Pay, Samsung Pay etc., Glance Pay is gaining momentum across multiple outlets, in many sectors.
But unlike the Apple, Google, Visa types, Glance Technologies still has plenty of blue-sky room for investors to make significant gains, before an eventual take out in the future.
The FinTech world is still in its early stages, but there are plenty of milestones being achieved, on the sector's route towards the $2.85 trillion market expected by 2020.
Apple Inc. (NASDAQ: AAPL)
Apple designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players to consumers, small and mid-sized businesses, and education, enterprise, and government customers worldwide. Apple's Apple Pay is the company's contactless payment system for mobile phones, launched in 2014, and growing in popularity. Apple Pay is now available in millions of stores, like Nike, Ulta, and can be used online and in other apps and websites such as Airbnb and Lululemon.
Visa Inc. (NYSE: V)
Visa operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. Visa has been rapidly boosting its mobile payment offerings, and it's easier than ever to add your Visa card to your payment-enabled mobile phone or device.
Square Inc. (NYSE: SQ)
Square develops and provides payment processing, point-of-sale (POS), financial, and marketing services worldwide. Founded in 2009 by Twitter founder and CEO Jack Dorsey, Square provides POS application software that manages payment solutions. The company also offers in-person/card present payments solutions, such as magstripe readers, contactless and chip readers, and chip card readers; and Square Stand that transforms an iPad into a POS terminal. Its customers include retail, services, and food-related industries of various sizes ranging from a single vendor at a farmers' market to multi-location businesses.
For a more in-depth look into Glance Technologies (OTC: GLNNF) (CSE: GET ) you can view the in-depth report at USA News Group: http://usanewsgroup.com/2017/06/01/canadian-fintech-wave-raises-24-million-from-rbc-and-other-investors/
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