VANCOUVER, British Columbia, Nov. 02, 2017 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (CSE:GET.CN) (OTCQB:GLNNF) (FKT: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.
For more information about Glance, please go to www.glance.tech or contact:
Christina Rao
Vice President, Investor Relations
(604) 723-7480
investors@glancepay.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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: “will” “may” "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those,
which, by their nature, refer to future events. 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
complete discussion of such risk factors and their potential effects which may be accessed through the Glance's profile on SEDAR at
www.sedar.com. in particular, Glance may not be successful in building its planned
cryptocurrency or there may not be sufficient support for the cryptocurrency to make it a success.
