Glance Technologies Inc (CNSX:GET) Reports JV Targeting Mobile Payment App


Glance Technologies Inc (CNSX:GET) has finalized a letter of intent to develop an app that will target global Chinese students visiting and living in North America with a firm that founds and supports businesses targeting Chinese inhabitants in Canada, with its major shareholder also the chief shareholder and a director of the modern tier 1 bank in Canada.

The details

Glance Technologies reported that the parties intend to incorporate a new firm which will buy a license from company to utilize the ‘Glance Pay’ payment system into a mobile payment platform to serve to the increasing population of global Chinese students visiting and living in Canada. The company will offer development work to the new firm and will be a notable owner of it. The JV associate will be accountable for raising sufficient funds for the new plan to create, develop, market and manage the new venture.

Given the integrated adoption and exponential growth of mobile payments in last few years in China and the increase of mobile payment service giants, like Tenpay, China Union and Alipay, it is evident that the ability to pay via mobile applications has turned commonplace for Chinese clients and the scope is expanding beyond China. Spending is increasing at overseas destinations, like the United States and Canada.

Alipay, the premium mobile payment service of Chine with more than 450 million customers globally, recently exceled a record level of a billion transactions, of which over 70% were done on a mobile device. This growth together with the note of Canada as a growing tourist destination for visitors from China, contributing more than $1 billion yearly to the Canadian economy, opens a new market for Glance to offer its integrated payment technology through the Glance Pay app at Canadian retail stores, restaurants and merchant services.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.