VANCOUVER, BC / ACCESSWIRE / February 18, 2020 / Glance Technologies Inc. (CSE:GET)(OTCQB:GLNNF)(FKT:GJT) ("Glance" or the "Company") one of Canada's leading mobile payment and customer loyalty platforms, announced today that the Company is changing its name from Glance Technologies Inc. to Perk Labs Inc. The operating company, Glance Pay Inc., is changing its name to Perk Hero Software Inc. and is launching a new mobile payment and loyalty rewards platform, branded as Perk Hero.
The Company will announce the finalization of the corporate name changes in future communications as well as the date that trading will commence under the new name, symbol and CUSIP number. In addition to the upcoming name and symbol changes, the Company will launch new websites and social channels. A preview of the Company's new websites is available at www.perklabs.io and www.perkhero.com.
This name change reflects the Company's shift in strategy to move further into the customer loyalty app market and to craft a new identity that resonates with the largest mobile app adopters and consumer spending groups: Gen Z and Millennials.
"The Perk Hero brand more squarely targets Gen Z and Millennials," said Glance's CEO Jonathan Hoyles. "Our research shows that Gen Z and Millennials are the most active users of mobile payments. They're the most engaged and adept app user demographic for this type of application, which isn't a huge surprise given they're a generation of digital natives for whom smartphone use is second nature."
"Businesses recognize the need to evolve with this demographic if they want to win them over as loyal customers. Glance, too, is pivoting to reflect this new focus by launching a more Gen Z and Millennial-friendly brand."
Research shows that:
- Gen Z will account for 40% of global consumers in 2020 (McKinsey & Company)
- Millennials are three times more likely to be excited about new mobile apps and features than older users. (ComScore)
- More than 2 out of 3 millennials say they're always looking for new apps and wish they could do more with the apps they already have. (ComScore)
- 66% of millennial digital media time is using smartphone apps. (ComScore)
"The 18-34 year old demographic is absolutely comfortable with paying via smartphones," said Hoyles. "For this tech-savvy generation, paying for a coffee using a pay-and-go method or buying an item with one click of a button has become the norm. They are driving the digital-driven payments landscape by demanding features and benefits that keep them engaged. Our goal is to leapfrog current mobile payment offerings in the market."
Perk Hero is built on a new and advanced technology stack using an AWS non-relational database and React Native mobile application framework. While it includes some of the best features of Glance Pay such as the ability to make quick secure payments by QR Code or paying by photo, it also includes many new advanced features such as:
- Apple Pay Integration
- Google Pay Integration
- Mobile pre-order
- Powerful, gamified loyalty reward platform allowing users to earn virtual coins as rewards
- All-in-one user and merchant application
- Merchant analytics and dashboard
- Artificial intelligence powered receipt recognition
Perk Hero will launch at a handful of select locations before being more broadly rolled out to the rest of the existing Glance Pay network of merchants and users. The Glance Pay app will remain available for a period of time so that Glance Pay users have time to redeem their in-app rewards before migrating over to Perk Hero.
Perk Hero will continue to pursue in-dining restaurants and will expand to new verticals including Quick Serve Restaurants (QSRs), coffee shops, pubs, bars and clubs, hotels, sporting events, concerts and other events, grocery, spas, salons and barber shops, and professional services.
Perk Hero will also offer a ‘Perk Hero for Businesses' white-label enterprise solution to chains, that can be branded and customized under their respective names.
"We believe there is a tremendous market opportunity for our offering," said Hoyles. "The global mobile payment market was worth US$ 881 billion in 20181 and the key market drivers remain strong."
The key market drivers for the growth in mobile payments ⎯ beyond convenience and ease of use to pay for products from mobile phones ⎯ is that they can be easily integrated with card-free loyalty programs, and valuable data can be acquired such as how often customers shop, dine, what they buy, and how they respond to incentives. Merchants can use this data to better market to customers based on their shopping behaviour, patterns and preferences.
Perk Labs also launched a company blog to provide further insights to stakeholders on its strategy and ongoing advancements in its technology. The blog can be accessed at: https://medium.com/@perk_labs
About Perk Labs Inc.
Perk Labs Inc. is the owner of Perk Hero, a digital loyalty management platform that enables merchants to provide their customers with digital rewards and a more engaging and convenient customer experience. For more information about Perk Labs, please visit www.perklabs.io
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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "may", "believe", "thinks", "expect", "exploring", "expand", "could", "anticipate", "intend", "estimate", "plan", "pursue", "potentially", "projected", "should", "will" and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of Glance's business strategies and its expectations concerning future operations, Glance's plans for a new name, symbol and CUSIP number, launching of new websites and social channels, the new advanced features that Perk Hero will offer, crafting a new identity that resonates with Gen Z and Millennials, leapfrogging current mobile payment offerings in the market, launching of the Perk Hero app at select locations before being more broadly rolled out to the rest of the existing Glance Pay network of merchants and users, expanding to new verticals including Quick Serve Restaurants (QSRs), coffee shops, pubs, bars and clubs, hotels, sporting events, concerts and other events, grocery, spas, salons and barber shops, and professional services, and offering a white-label enterprise solution to chains. Although Glance considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Glance cautions investors that any forward-looking information provided by Glance is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
SOURCE: Glance Technologies Inc.
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