According to data published by Allied Market Research, the mobile Payments market is expected to reach a value of $3,388 billion by 2022, growing at an impressive CAGR of 33.4% from 2016 to 2022. The report indicates that the rapidly increasing use of smartphones, growth in m-commerce industry, change in lifestyle, and the need for quick and easy transactions are crucial factors that drive the mobile payment growth. The Mobile payments through mobile wallets/bank cards are projected to register the growth rate during the forecast period, owing to the increase in incentivization given by the market players for payment done via wallet and card. Glance Technologies Inc. (OTC: GLNNF), Square, Inc. (NYSE: SQ), PayPal Holdings, Inc. (NASDAQ: PYPL), Global Payments Inc. (NYSE: GPN), Verifone System, Inc. (NYSE: PAY)
In a report by Forbes Peter Olynick, retail banking senior practice lead for NTT DATA, commented the results of a global survey of 2,300 companies and consumers conducted by Ingenico ePayments, Oxford Economics and Charney Research. Peter explained that, "Anytime you can remove the friction of the payment we are seeing those companies are getting a nice uplift. If you walk into a retailer and pick up one or two things and there is a line at checkout, you put it down and walk out because don't have the 15 minutes it will take for that queue to open up. When we can get to the point where the payment itself is frictionless, we will get those sales that have been lost. We are very high on the idea that removing that friction, such as Uber, or just making it easier and a little bit faster to get through the line, all those things are going to make it be positive to the retailers who do it best."
Glance Technologies Inc. (OTCQB: GLNNF) also listed on the Canadian Securities Exchange under the Ticker (CSE: GET). Earlier this week the company announced that the, current quarter is already the Company's strongest ever for launches and merchant partner signings.
The Company has signed 136 new locations and launched 50 new locations in 11 weeks since the current fiscal quarter began on March 1, making it Glance's best quarter to date for those metrics, with two weeks still left to go in the quarter.
"Our team is gaining momentum, especially with our expansion into the U.S.," says Glance Technologies' CEO, Desmond Griffin. "Merchants are increasingly recognizing how the value and power of our Glance Pay app can help their business."
Glance is looking forward to additional opportunities from its attendance this week at the upcoming National Restaurant Association Show 2018 in Chicago, which runs from May 19 to 22. This is the U.S. restaurant industry's premier event and the largest annual foodservice trade show in the U.S.
At the trade show, Glance will be one of just 14 exhibitors invited to the exclusive Startup Alley, reserved for top creators and innovators who meet the association's specific criteria. Admission to this group gives Glance a unique opportunity to bring the Glance Pay app, with its sophisticated anti-fraud technology, into the spotlight.
Representing more than 500,000 restaurant businesses with more than one million outlets across the United States, the National Restaurant Association is the largest foodservice trade association in the world by membership.
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, the company launched Square for Restaurants, a fully integrated point of sale that matches the pace, complexity, and specific needs of today's restaurants. Square for Restaurants is the company's first solution built to serve full-service restaurants, and brings the speed and ease of use for which Square is known to all types of larger restaurants, bars, and lounges. Square will also integrate Caviar directly into Square for Restaurants, marking the first time restaurants will be able to benefit from the simplicity of a combined first-party ordering platform and point of sale. Square for Restaurants is Square's most sophisticated software solution yet, enabling fast, accurate operations for both the front and back of house.
PayPal Holdings, Inc. (NASDAQ: PYPL) is a leading technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. On April 25, 2018, the company announced first quarter results for the period ended March 31, 2018. Revenue rose 24% to $3.69 billion, or 22% on a foreign currency-neutral (FX-neutral) basis. PayPal processed $132 billion in TPV in the first quarter, representing growth of 32%, or 27% on an FX-neutral basis. Merchant Services TPV grew 30% on an FX-neutral basis, and represented 87% of overall TPV for the quarter versus approximately 85% a year ago. eBay Marketplaces volume grew 6% on an FX-neutral basis. Person-to-Person (P2P) volume grew 50% to nearly $30 billion, and represented approximately 23% of TPV in the first quarter. Venmo, the company's social payments platform, processed more than $40 billion of TPV over the past twelve months. In the first quarter, Venmo processed more than $12 billion of TPV, growing 80% over the same period last year.
Global Payments Inc. (NYSE: GPN) is a leading worldwide provider of payment technology and software solutions delivering innovative services to its customers globally. The company's technologies, solutions and employee expertise enable us to provide a broad range of products and services that allow customers to accept all payment types and operate their businesses more efficiently across a variety of distribution channels in many markets around the world. Earlier this month, the company announced results for the first quarter ended March 31, 2018. GAAP revenues were $795.0 million, compared to $919.8 million in the first quarter of 2017; diluted earnings per share were $0.57 compared to $0.32 in the prior year; and operating margin was 19.6% compared to 11.4% in the first quarter of 2017
Verifone System, Inc. (NYSE: PAY) is transforming every day transactions into new and engaging opportunities for merchants and consumers at the last inch of payments and commerce. Recently, the company announced an agreement with SpotOn Transact, LLC (SpotOn) to deploy Carbon integrated point-of-sale (iPOS) devices with Verifone Connect. SpotOn offers non-traditional marketing solutions to drive traffic to merchants and create loyal customers. Carbon with Connect includes the Verifone Marketplace where retailers and restaurants can download the SpotOn application. Once the app is downloaded, merchants have access to popular business tools such as financial and customer analytics, review monitoring and notifications, and a marketing platform that empowers merchants to connect with their customers via mobile, social media, and email. In addition, the app allows business owners to run rewards programs, loyalty and deal redemption, gift cards and more.