Vancouver’s GlancePay has been named as an industry leader amongst a number of firms by USA News Group in a report that predicts the global fintech market to maintain a compound annual growth rate (CAGR) of at least 30% through 2025.
The financial media company stated that whilst the financial sector has remained rather stagnant on the global stock market in recent times, the fintech industry has been making considerable gains, with the likes of GlancePay, PayPal, Lending Club and OnDeck Capital leading the way.
GlancePay, dubbed as the next PayPal, has become the number one mobile payment app in Canada, despite having only been launched last year. The fintech allows customers to pay quickly and easily, often utilised in restaurants.
According to Transparency Market Research, the market for mobile payment technologies is expected to increase at a CAGR of 20.5% through 2024, something that would see it rise above the credit and debit cards market by 2020.
Further, According to BI Intelligence, by 2020 there will be $503bn in in-store mobile payments, representing an 80% CAGR between 2015-20, something that GlancePay has been both driving and benefitting from.
In addition, GlancePay is planning to keep in touch with growing trends by incorporating cryptocurrency channels into the app to allow an even greater range of payment options.