The Increasing Use of Smart Devices is Driving the Global Mobile Payment Market Growth News Commentary

Mobile payment platforms have become widely popular around the globe as a result of their simplicity and accessibility. Consumers can just open their mobile devices and make, or transfer, payments in the palm of their hands. Many financial institutions have diversified themselves and launched mobile banking platforms for their consumers. Meanwhile, many retailers are adopting mobile payment solutions for ease of payment transactions, causing the industry to rapidly expand. The increasing rate of adoption of mobile digital payments is also causing the cryptocurrency market to grow as well. Many businesses are beginning to accept forms of cryptocurrency in digital payments, such as Bitcoin, Ripple and Ethereum. According to data compiled by Transparency Market Research, the global mobile payment technologies market was valued at USD 2.94 Trillion in 2017 and is expected to expand at a CAGR of 37.8% during the forecast period from 2018 to 2026. Consumers are using mobile payment systems more and more due to their convenience and considering the growing use of smart appliances and the increasing mobile data usage, the market is expected to continue to expand even further. Glance Technologies Inc. (OTC: GLNNF), TD Ameritrade Holding Corporation (NASDAQ: AMTD), Square, Inc. (NYSE: SQ), Coupa Software Incorporated (NASDAQ: COUP), First Data Corporation (NYSE: FDC)

Consumers have countless options to choose from when it comes to mobile payment platforms. Despite the endless options, consumers ultimately choose whatever platform is the most appealing and more popular, leading to already established platforms to be more commonly used. While many of the larger established financial institutions or service providers already dominate the industry, there are still many smaller platforms in the market, with even more vying to establish themselves. Although there are many options, Don Bush, Vice President of Marketing at Kount, believes that many of these smaller businesses will end up being acquired or will merge with others. ‘As with any emerging technology, we will first see a proliferation, where more and more brands introduce mobile payment options to the market, followed by a collapse. We are still in the expansion stage and likely will be for another 18 months to three years,’ said Bush, ‘When all is said and done, the payments landscape will have gone from many players to just a few. A few does not necessarily mean that all players will have been knocked out; but rather some of the big mobile payments options will be forced to merge.’

Glance Technologies Inc. (OTCQB: GLNNF) is also listed on the Canadian Securities Exchange under the ticker (CSE: GET). Yesterday, the Company announced breaking news that, ‘it has launched its new Pay With Bitcoin feature.  Pay With Bitcoin enables Glance Pay users to pair their cryptocurrency wallet with their Glance Pay account, and then purchase Glance Dollars with Bitcoin. Glance Dollars represent a credit that can be spent instantly at participating merchants within the Glance Pay ecosystem.

‘We are continually building out new payment features to ensure our platform is at the forefront of technology,’ says Glance Technologies CEO Desmond Griffin. ‘Pay With Bitcoin allows Glance users to unlock the value of their crypto assets for use in their everyday lives while seamlessly opening up a new cutting-edge payment method for merchants.’

Pay With Bitcoin marks an important step forward as Glance advances its blockchain infrastructure. Bitcoin is the world”s pre-eminent cryptocurrency, however, one of the challenges with Bitcoin payments are that transactions can take hours to complete. Glance”s new feature solves this problem by enabling lightning-fast payments.

Historically, one of the barriers to adoption of cryptocurrency payments by merchants has been the cryptic and complicated process of setting up cryptocurrency wallets and managing them. Glance will allow merchants to receive payments in fiat currency without requiring any knowledge of how to use cryptocurrency.

Glance believes that Pay With Bitcoin is a great complement to its Glance PayMe application that provides merchants of any size with an unparalleled suite of payment options, including powerful anti-fraud technology and a robust loyalty rewards program – all managed via the merchant”s own mobile device without the need of any extra hardware.

Glance notes that Square reported Bitcoin transaction sales of US$43 million in its third quarter of 2018, an increase of US$6 million over its previous quarter, demonstrating growing demand for Bitcoin related payments.’

TD Ameritrade Holding Corporation (NYSE: TD) provides investing services and education to more than 11 million client accounts totaling more than USD 1.2 Trillion in assets, and custodial services to more than 6,000 registered investment advisors. After being among the first financial services firms to offer approved clients with access to bitcoin futures contracts last year, TD Ameritrade Holding Corporation recently announced it has made a strategic investment in ErisX, a regulated derivatives exchange and clearing organization that will include digital asset futures and spot contracts on one platform. With in-depth experience delivering and operating a fully regulated market place, ErisX has entered into the digital asset space with a broad offering of both spot and futures contracts on one platform. ErisX has integrated digital asset products and technology into reliable, compliant and robust capital markets workflows. With a regulated, liquid and accessible offering, ErisX enhances the digital asset space for institutional and individual traders alike. ‘As a strategic investor in the initiative, we look forward to working with the team at ErisX as they develop and launch digital currency products designed to fulfill the needs of retail investors,’ said JB Mackenzie, managing director Futures & Forex at TD Ameritrade. ‘ErisX”s plan is to offer traders access to cryptocurrency spot contracts as well as futures contracts on a single exchange.’

Square, Inc. (NYSE: SQ) creates tools that help sellers start, run, and grow their businesses. Square, Inc. (NYSE: SQ) recently launched employee benefit offerings within Square Payroll, providing small businesses who use Square Payroll access to quality, affordable benefits like health insurance and retirement savings. Benefits are flexible, easy-to-use, and seamlessly integrate with the rest of Square Payroll, removing the administrative complexity businesses typically face with offering benefits. In addition to providing businesses a new tool that can attract and retain world class talent, certain employee benefits can even save businesses money by reducing their payroll tax burden, at no out of pocket cost. Square Payroll is an elegant, all-in-one service for small businesses looking to run payroll quickly and efficiently. Earlier, Square Payroll became available nationwide. Square Payroll also introduced the Square Payroll App for employers and Square Payroll Team App for employees this fall, providing greater access to core payroll features including automatic payroll tax calculations, payments and filings, and payroll support for W-2 employees and 1099 contractors. ‘With today”s launch, Square Payroll is giving small businesses access to ”big company” benefits,’ said Caroline Hollis, Head of Square Payroll. ‘We”re empowering businesses to provide their employees a comprehensive set of benefits and the financial security that comes with having them.’

Coupa Software Incorporated (NASDAQ: COUP) is the leading provider of BSM solutions. Coupa Software recently unveiled its vision for a business-to-business (B2B) payments solution that aims to put an end to the complex, manual, and inefficient payment processes that companies currently use. Called Coupa Pay, this industry-first offering spans a set of payment and financing solutions that empowers businesses to spend smarter at every transactional step of their business spend management strategy. ‘While we”ve seen innovation across many different payment rails, buyers and suppliers are still left with fragmented solutions that are inefficient, error-prone, and lack end-to-end visibility and control across all business spend,’ said Ravi Thakur, Senior Vice President of Business Acceleration at Coupa. ‘Coupa Pay is a natural step in our journey to help companies spend smarter. It inherently offers a two-fold advantage. Our customers get value by extending payments as part of their overall business spend management strategy, and their suppliers get a more efficient and inclusive experience throughout the process.’

First Data Corporation (NYSE: FDC) is a global leader in commerce-enabling technology, serving approximately 6 million business locations and 4,000 financial institutions in more than 100 countries around the world. First Data recently announced the launch of Clover Mini and Clover Flex in Argentina. The first smart payments devices of their kind available to businesses in the market, Clover Mini and Clover Flex will enable business owners to accept the latest in payment innovation, maximize operational efficiency, leverage real-time data analytics, and better engage with customers, all with industry-leading security and fraud monitoring. ‘We are proud to launch Clover”s innovative payments technology in Argentina,’ said Chairman and Chief Executive Officer, Frank Bisignano. ‘We have watched the Clover platform grow rapidly across the U.Sand in Europe, and this is another great step forward for First Data in our goal to empower businesses in all regions around the world with the most innovative payments technology to help them grow.’

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NEW YORK, November 30, 2018 /PRNewswire/ —