Glance and Active Pay Enter into $1 Million Licensing Agreement

Glance Technologies (CSE:GET.CN) has announced that it has agreed to license its mobile payment technology to Active Pay Distribution for $1 million.
As quoted in the press release:

Pursuant to the deal, Glance Pay will create and provide the technology backbone for the Active Pay app which will serve the growing fitness and wellness community. The app will be named Active Pay and be uniquely branded as Active Pay but will be labeled as “powered by Glance Pay”. Merchants and users who sign up for the Active Pay app will also be included in the Glance Pay app. In addition to the $1 million license fee, Glance will receive a processing fee for transactions and a percentage of revenues generated through the Active Pay app.
International fitness star, author and Active Pay CEO Isadora Melo says, “There is a new way of doing business in the fitness industry which revolves around fintech, mobile and social media. We are going to gather the best in the fitness industry in one place – Active Pay, and create a reliable destination to choose and purchase fitness and wellness products and services.”
According to the Global Wellness Institute, the global wellness industry is estimated at $3.7 trillion dollars. According to Women’s Marketing, it is dominated mostly by beauty and anti-aging product sales, followed by fitness and mind + body exercise and healthy eating, nutrition and weight loss sales.¹
“This licensing model is very similar to the deal we signed in June 2017 with Cannapay Financial Inc. which allows us to access the growing Cannabis industry,” says Penny Green, Glance President & COO, “our licensing deal with Active Pay allows Glance Pay to access the growing fitness and wellness industries and provides us with significant revenue. We intend to continue to expand Glance Pay through additional licensing agreements in other verticals.”

Click here to read the full press release.