An exciting development seems to be going on for Glance Technologies. After introducing the Glance Pay payment system back in May, there is a new feature on the platform. In a press release, the company reports Glance Pay users to pay with Bitcoin (BTC). This is a great step in the right direction given the popularity and utility of the predominant cryptocurrency.
Glance Dollars
According to the news release, the new feature will facilitate users to easily transact between Bitcoin and Glance Dollars. Particularly, the feature will link users’ cryptocurrency wallets with their Glance Pay accounts. This way, users can use Bitcoin to purchase Glance Dollars.
Interestingly, the Glance Dollars are a very flexible means of transactions. They represent a credit that acts like currency within the Glance Pay ecosystem. Specifically, Glance Pay users can use the Glance Dollars to make purchases within the space. Importantly, the credit allows users to make instant and cheap transactions.
In addition, the Glance Dollar brings more utility as compared to Bitcoin. Normally, Bitcoin transactions take a bit more time to complete. This is because as more and more users utilize the system, the heavy traffic slows down transactions. Therefore, the new feature eliminates the problem of slow transactions.
Faster Transactions as Glance Pay Users Pay in Bitcoins
According to Desmond Griffin, CEO of Glance Technologies, solving payments problems is their passion. Commenting on the new feature, he says:
“This feature allows Glance users to unlock the value of their crypto assets for use in their everyday lives while seamlessly opening up a new cutting-edge payment method for merchants.”
The move is a huge step in the payments industry, especially where Bitcoin is important. Most interesting is that users will complete a transaction without much knowledge about cryptocurrencies. According to the company, the new feature will do everything for the customer. All one has to do is give instructions and wait for feedback.
According to Griffin, the new feature solves a problem that is a huge barrier to wider adoption of cryptocurrencies. Normally, the payments process using cryptocurrencies is full of complex algorithms that make it impossible for common people to use. As part of company strategy, Glance Pay will simplify the payments process but still use cryptocurrency.
Initially, users will initiate transactions in Bitcoin. However, merchants will have the option to receive payments in either Bitcoin or fiat currency. In addition, merchants can choose to receive the payments in Glance Dollars.
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