NEW YORK, December 21, 2018 /PRNewswire/ --
Payment solutions are becoming increasingly popular amongst both consumers and businesses. Payment solutions are offering a much more convenient method to send or receive monetary transactions between two parties. Additionally, new technologies are being integrated into payment solutions, such as blockchain and cryptocurrency. As technology continues to advance, industry leaders are reshaping the payments industry with innovative and convenient solutions. According to data compiled by Capgemini and BNP Paribas, the global non-cash transaction market grew by 10.1% from 2015 to 2016. The research now projects that the market will grow at a CAGR of 12.7% until 2021. The market is predominately being driven by developing markets such as Russia, India and China. Notably, developing markets are projected to grow at a CAGR of 21.6% over the next five years. The market is expected to be led by Asia's CAGR of 28.8%, while already developed regions are projected to grow by approximately 7%. Glance Technologies Inc. (OTC: GLNNF), Square, Inc. (NYSE: SQ), Starbucks Corporation (NASDAQ: SBUX), Sony Corporation (NYSE: SNE), TD Ameritrade Holding Corporation (NASDAQ: AMTD)
The integration of cryptocurrency and blockchain technology is becoming prominent in the digital payment industry. According to Infoholic Research LLP, the global cryptocurrency and blockchain market is projected to reach USD 42.16 Billion by 2022. Furthermore, it is expected to grow at a CAGR of 35.2%. The market is gaining traction due to the widespread acceptance of the technology. Specifically, players in sectors like BFSI, retail, media, healthcare and others are adopting cryptocurrency to be used as a form of payment. Cryptocurrencies offer a much more secure payment process while also processing the transactions much faster, which has made it highly attractive to businesses that deal with large volume of payment transactions. "I can anticipate the day when every store will accept payment in a cryptocurrency," said Stephen Pair, Chief Executive Officer and Co-Founder of BitPay. "It became clear that payment systems and traditional currencies were ripe for disruption by technology, the same way that email disrupted the Post Office."
Glance Technologies Inc. (OTCQB: GLNNF) is also listed on the Canadian Securities Exchange under the ticker (CSE: GET). Earlier yesterday, the Company announced breaking news that, "it has filed a provisional patent application with the United States Patent and Trademark Office directed at methods, systems and techniques for cryptographic token transfers.
This patent application is for a foundational technology to lower costs and improve speed and efficiency of cryptocurrency transactions, even where the value of the transaction may be relatively small, as well as to facilitate converting between cryptocurrencies whose transactions are recorded on different blockchains. It also facilitates storing information of different sensitivity levels on differently permissioned blockchains, which can be useful when privacy is important.
Desmond Griffin, CEO of Glance, says 'some of the current barriers to adopting cryptocurrencies for everyday payments are high costs per transaction for small value transactions, slow speed of execution when trying to pay in real time, and potential disclosure of more information than may be desired from a user. This patent application proposes various technological solutions that can be used to solve these problems. The aim for Glance is to make cryptocurrency payments practical for day-to-day payment situations.'
Glance believes that blockchain and cryptocurrencies are fundamentally transformative technologies, providing significant opportunities for the early pioneers in this space. In addition to facilitating cryptocurrency transactions, the technology described in this patent application is applicable to the Glance Coin loyalty reward token that will allow Glance merchants to reward and provide deals and incentives to customers.
About Glance Technologies Inc: Glance Technologies is the owner of Glance Pay and Glance PayMe, a pair of complementary smartphone payment applications that enable merchants to provide their customers with quick secure payments, digital rewards, and a better customer experience."
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. Recently, Square, Inc. announced Square Terminal, an integrated and innovative all-in-one card processing device designed to be fast, fair, and secure. Square Terminal allows sellers to ring up sales, accept all forms of payments quickly, and print receipts, all from one affordable and elegant device. It is the best solution for businesses that use their own point-of-sale solution or manually key in a payment amount, and want to process payments with Square. Square Terminal also offers sellers a fair and flat rate for every transaction, regardless of card type. "Payment terminals are everywhere, from liquor stores to dry cleaners to dentists, and with Square Terminal we can now serve these sellers better with new, elegant hardware on top of Square's fair and secure payments service," said Jesse Dorogusker, Head of Hardware at Square. "Square Terminal is designed from the ground up to ensure a feeling of familiarity, so sellers and their customers can use it right away. With Square Terminal, we now offer a sophisticated and modern hardware-plus-software solution for every type of business."
Starbucks Corporation (NASDAQ: SBUX), since 1971, has been committed to ethically sourcing and roasting high-quality arabica coffee. Intercontinental Exchange recently announced that it plans to form a new company, Bakkt, working with Starbucks, BCG, Microsoft, which intends to leverage Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets. The new company will create an integrated platform that enables consumers and institutions to buy, sell, store and spend digital assets on a seamless global network. "As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted and regulated applications for consumers to convert their digital assets into US dollars for use at Starbucks," said Maria Smith, Vice President, Partnerships and Payments for Starbucks. "As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers."
Sony Corporation (NYSE: SNE) unlimited passion for technology, content and services, and relentless pursuit of innovation, drives it to deliver ground-breaking new excitement and entertainment in ways that only Sony can. Sony Corporation, Sony Music Entertainment (Japan) Inc., and Sony Global Education recently announced the development of a rights management system for digital content that utilizes blockchain technology. This new system is based on Sony and Sony Global Education's previously developed system for authenticating, sharing, and rights management of educational data, and additionally features functionality for processing rights-related information. Blockchains create networks where programs and information are difficult to destroy or falsify, and are well-adapted for the free transfer of data and rights. Those traits give blockchains many potential uses across a range of services including finance, merchandise distribution management, and the sharing economy, and blockchains are expected to bring about even more innovative services in the future. At present, they are also used in public P2P network transactions, primarily involving cryptocurrencies such as Bitcoin. Sony Global Education is continuously carrying out technological development and prototyping towards the use of blockchain technology in the educational field. This newly developed system can be utilized to manage educational materials and other forms of content used in the field of education, and Sony Global Education is considering its possible commercialization as a service. Sony Group is also considering innovative ways to make use of blockchain technology for information management and data distribution in a host of different fields. Through the technological development and commercialization of blockchains, including with this new system, Sony will continue exploring the possibilities that blockchain technology holds for Sony Group's diverse and wide-ranging business domains.
TD Ameritrade Holding Corporation (NASDAQ: AMTD) 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."
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