The last time we touched upon GLANCE TECHNOLOGIE (OTCMKTS: GLNNF) here on Street Register, the company had signed over 350 locations for use of its Glance Pay app, including over a dozen US locations ahead of its planned US expansion. It was also gearing up to pursue opportunities to license its BlockImpact cryptocurrency platform as a white label solution
This week, the company has dropped a couple of updates concerning new capabilities for its products, as well as announcing some changes to its corporate governance policies.
GLANCE TECHNOLOGIE (OTCMKTS: GLNNF) announced an 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. Often the payment options are not convenient. For example, some jurisdictions still require payment for traffic violations to be done by mailing checks.
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 alone.
“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.” (Source: Globe Newswire)
In terms of the changes to company policy we mentioned, the highlights of the new Corporate Governance Principles are:
- Ensuring that the business is managed with integrity and ethical business standards;
- All directors will act in the best interest of Glance and will put the interest of Glance ahead of any single stakeholder, shareholder or group or their own interests;
- Glance will communicate openly and effectively with its shareholders, other stakeholders and the public generally, and maintain strict compliance with all applicable securities laws regarding disclosure and trading;
- Ensuring that there is a long-term strategic plan in place for Glance which is reviewed annually with the Board; and
- The adoption of a majority voting policy for the election of directors of Glance.
(Source: Globe Newswire)
We have long been interested in GLNNF’s mobile payment solutions suites, not to mention the rapidity with which the company has been progressing with its plans. We’re certainly going to want to continue keeping tabs on this one. We’ll stay up on any further developments with GLNNF and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free smallcap newsletter. It’s as easy as that! Simply submit your primary active email address in the box below. Subscribe now!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in GLNNF stock, short or long.