Trillion Dollar Mobile Payment Grows as More Merchants and Restaurants Adopt Applications
PALM BEACH, Florida, August 22, 2017 /PRNewswire/ —
Revenues in the mobile payment market continue to swell as the space commercializes and merchants as well as restaurants adapt to the mobile applications for financial transactions. Consumers are starting to realize the value in every self-checkout option available to them from different restaurants and retailers. Some consumers will need some more one-on-one time and repetition with self-service technology before they become more comfortable with it, but it appears a fast growing amount are already comfortable with the conveniences mobile payments applications offer. Advancing tech companies today include: Glance Technologies Inc. (OTC: GLNNF) (CSE: GET), Total System Services Inc. (NYSE: TSS), Square Inc. (NYSE: SQ), PayPal Holdings Inc. (NASDAQ: PYPL), Fiserv Inc. (NASDAQ: FISV).
Glance Technologies Inc. (OTCQB: GLNNF) (CSE: GET.CN) is pleased to announce that it has entered into an agreement to offer its mobile payment app for restaurants and merchants, Glance Pay, at the Ricky’s Group of Family-Style Restaurants, http://www.gotorickys.com . The Ricky’s Group currently has 90 locations across Canada and is growing. The 90 locations are comprised of Ricky’s All Day Grill, Ricky’s Country Restaurant and Ricky’s Cafe. The same group that owns Ricky’s also owns Fatburger Canada. Read this and more news for Glance Technologies at:http://www.marketnewsupdates.com/news/glnnf.html.
“Ricky’s is committed to engaging with industry leading advances and technologies that will continuously improve our operations and guest experience. Glance Pay’s mobile payment solution gives Ricky’s the clear advantage in becoming even more operationally efficient while respecting both our guests’ time and the demand for fast and secure mobile payments,” says Stacey Hansson, Senior Vice President, Ricky’s.
Glance Pay has been growing rapidly since its launch 11 months ago. To date there are over 230 locations signed up to use the Glance Pay app. The mobile payments industry is already valued at $5.5 trillion in China and expected to grow rapidly in North America over the next 3 years as well. Glance is well positioned to be a leader in mobile payments with a strong presence in Canada and intentions announced for U.S. expansion.
“We feel it is a true fit to have the well-known Ricky’s Group of Family-Style Restaurants use Glance Pay to bring an even better experience to their guests and their long-standing and growing demographic,” says Glance CEO, Desmond Griffin. “With 100% fraud protection and security, plus many in-app marketing features, Glance Pay brings a proven focus of added value to both Ricky’s and their customers.”
In other industry news and developments as well as market performance:
Total System Services Inc. (NYSE: TSS) closed up slightly on Monday with over 1 million shares traded by the market close. The company recently announced it has been named the official payment processing partner of the National Golf Course Owners Association (NGCOA). The not for profit organization is the only trade association dedicated exclusively to owners and operators of daily-fee, semiprivate, private and resort golf courses. With many members accepting electronic payments from customers booking tee times online or making onsite purchases, the NGCOA is encouraging its course owners and operators to speak with their software system representatives about integrating with TSYS, if the company has not already.
Square Inc. (NYSE: SQ) closed down slightly on Monday at $24.46 trading over 5.8 million shares by the market close. TechCrunch.com reported recently that Square, the payments processing company founded by Jack Dorsey, reported its second quarter earnings after the bell on Wednesday. After beating expectations, the stock quickly went up 4% in initial after hours trading. Square reported revenue of $552 million, when analysts were forecasting $536 million. It’s also up 26% from the same period last year. Read more at https://techcrunch.com/2017/08/02/square-continues-its-stellar-stock-market-run/ .
PayPal Holdings Inc. (NASDAQ: PYPL) was up slightly in afterhours trading on Monday after closing down slightly trading over 4.2 million shares by the market close. PayPal is setting up a new app specifically geared towards the mobile device crowd who wants to make payments in stores, a point that wasn’t always on hand for PayPal users. Described as a ‘forthcoming NFC (near-field communications) wallet experience,’ the new PayPal system will allow for tap-to-pay purchasing. That would likely put it in the same class of heavy-hitters as Apple Pay and Samsung Pay, and might well make some wonder how PayPal could possibly compete. Read more at https://paymentweek.com/2017-8-21-paypal-plans-full-mobile-payment-app-2018/.
Fiserv Inc. (NASDAQ: FISV) recently announced it has acquired Dovetail Group Limited, a leading provider of bank payments and liquidity management solutions. This acquisition further enables Fiserv to help financial institutions around the world transform their payments infrastructure to meet the evolving needs of wholesale, commercial and retail customers. Financial terms were not disclosed. As the global payments landscape evolves, financial institutions of all sizes are challenged to modernize their payments infrastructure and provide enhanced capabilities that improve payment outcomes, leverage efficiency, and maintain the highest standards of security and resilience. Through this acquisition, Fiserv will combine Dovetail’s real-time payments platform, modular services and configurable business processing rules with its market-leading payment capabilities, enabling financial institutions to unify discrete solutions into a fully integrated payments infrastructure.
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