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The Remote Payment Markets are Expected to Grow Rapidly Due to Tech AdvancementsNEW YORK, October 27, 2017 /PRNewswire/ -- According to a report published by Transparency Market Research, the global remote mobile payment market is valued at USD 1,176,712.6 million in 2017 and is expected to reach USD 7,526,127.9 million by 2022, with an exponential GAGR of 44.9 percent during the forecast period. The rapid growth in the market is driven by several factors, including innovation of smartphones, technological advancements that have enabled immediate authentication of people, and growing fields of Big Data, as well as the internet of things. Remote mobile payment has been used in a number of segments, including hospitality and tourism, retail, IT and telecommunication, media and entertainment, banking, financial services, and insurance (BFSI), as well as airlines and healthcare. Glance Technologies Inc. (OTC: GLNNF), Paypal Holdings Inc (NASDAQ: PYPL), Square, Inc. (NYSE: SQ), VeriFone Systems Inc (NYSE: PAY), Total System Services, Inc. (NYSE: TSS) The report also analyzed the market by geography, "the North America remote mobile payment market is most lucrative, owing to high adoptability rate of new technology among the citizens of the developed countries of the U.S. and Canada, ubiquity of smartphones, and existing penetration of e-commerce. Although Europe currently is the second most profitable region, promising an absolute dollar opportunity of US$1,052,187.8 mn by the end of 2022, the region of Asia Pacific except Japan (APEJ) is projected to overtake and reach a worth of US$1,511,056.3 mn by 2022. This surge of demand in the APEJ remote mobile payment market is a reflection of vast population of two of the fastest growing economies in China and India." Glance Technologies Inc. (OTCQB: GLNNF) also listed on the Canadian Stock Exchange under the Ticker 'GET'. Just announced breaking news earlier today that, "announced financial results for the third quarter ended August 31, 2017.Glance previously announced a 664% increase in revenues in Q2 2017 up from Q1 2017. It now announces a 90% increase in revenues in Q3 2017 up from Q2 2017 and a 55,784% increase in revenues in Q3 2017 compared to Q3 2016 when the Glance Pay application was launched. Glance has approximately $9,400,000 in the bank as of October 26, 2017. "We are pleased to continue this trend of sharply increasing revenues quarter after quarter," says Glance CEO Desmond Griffin, "We have been successful in developing and licensing our technology, resulting in $3 million worth of development, licensing and marketing agreements signed in the past five months. We believe we are well positioned to take advantage of the continued acceleration in the adoption of mobile payments worldwide, as well as the increased interest in cryptocurrency and blockchain based technologies." For the third quarter ended August 31, 2017: Gross revenue increased by 90% to $240,130 from $126,527 in the second quarter of fiscal 2017 and it increased by 55,874% compared to the third quarter of 2016. - Management fees decreased 26% to $8,347 from $11,250 in the third quarter of fiscal 2016. - Software development costs increased 29% ($125,443) in Q3 2017 in contrast to Q3 2016 ($97,148). - Marketing expenditure in Q3 2017 ($1,433,287) increased 648% compared to Q3 2016 marketing expenditure ($191,604). - Stock option-based payments decreased by 78% to $25,920 (2016: $117,642) in Q3 2017. Outlook - For the fourth quarter of 2017, based on already signed deals, management expects revenues to exceed those of the third fiscal quarter of 2017. Management expects to continue launching its mobile application in many more Canadian restaurants during the fourth period of 2017. Management expects to generate increased revenue from Glance Pay Anywhere, which enables merchants to send bills and securely receive payment to and from customers in the fourth quarter of fiscal 2017. The company also expects to receive monthly revenue from its licencing agreements with CannaPay Financial Inc., Activepay Distribution Inc. and Euro Asia Pay Holdings Inc. IFRS - The operational and financial information in this release is based on the consolidated figures in accordance with IFRS, and with the exception of information on investments and behaviour of markets, quarterly financial statemens are reviewed by the company's independent auditors." Paypal Holdings Inc (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. On July 26th, Bank of America and PayPal announced a strategic partnership that will soon enable Bank of America customers to transact with PayPal in stores and seamlessly link their Bank of America cards into PayPal. "At PayPal, we continue to partner with the most innovative and respected companies in technology, mobile and financial services," said Gary Marino, Chief Commercial Officer at PayPal. "This partnership will give us the opportunity to work with Bank of America to reach and serve new customers, improve security capabilities, enhance our mobile leadership and offer our millions of joint customers more choice when paying online, in apps and in stores." Square, Inc. (NYSE: SQ) creates tools that help sellers start, run, and grow their businesses. Square enables sellers to accept card payments and also provides reporting and analytics, next-day settlement, and chargeback protection. On September 28th, Square announced a strategic partnership with Eventbrite, in which Square will drive Eventbrite's payments systems, including online, mobile, and in-person transactions. Additionally, to support Eventbrite's vision to power the world's largest platform for live experiences, Square has invested $25 million in the company. "We're thrilled to bring Square's payments technology to Eventbrite. As the lines that separate online and offline business fade, we look forward to helping them further simplify all aspects of commerce, so they can stay focused on their core business of powering great live events," said Alyssa Henry, Seller Lead at Square VeriFone Systems Inc (NYSE: PAY), a world leader in payment and commerce solutions, and Alipay, the world's leading third-party payment platform, announced on October 17th, the extension of their existing global partnership to Verifone Taxi Solutions. Through the agreement, Chinese consumers traveling in New York and Las Vegas will be able to pay for taxis in the U.S. for the first time using their Alipay Mobile Wallet. "Chinese visitors to the U.S. are increasing in number every year and we are continuing to elevate the cashless payment experience by making it easy to pay inside American taxi cabs," said Amos Tamam, Senior Vice President of Global Taxi Systems, Verifone. Total System Services, Inc. (NYSE: TSS), or TSYS, is a leading provider of payment solutions. On October 25th the copmany a new strategic partnership with Rectangle Health - the foremost healthcare payment solutions provider in the country - to deliver its state-of-the-art integrated software for new and existing TSYS clients. Together, this will broaden the reach of TSYS and Rectangle Health, while enhancing the array of offerings TSYS provides its expanding customer base. "We are excited to present Practice Management Bridge to our healthcare clients as the revolutionary solution they need to best service their patients," says Carl Mazzola, president of Integrated Payments, TSYS. Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/ About FinancialBuzz.com FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. 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