Global Payout’s Subsidiary, MoneyTrac Technology Inc. Explores Partnerships with Compliance Firms in the Cannabis Banking S...
November 15 2017 - 8:00AM
Global Payout, Inc. (OTC Pink: GOHE) (“Global” or
“the Company”) is pleased to announce that its majority owned
subsidiary MoneyTrac Technology, Inc. (“MoneyTrac” or “MTRAC”) is
currently in the process of exploring potential strategic
partnership opportunities with a variety of entities that are
focused on helping banking organizations become compliant with
Cannabis regulatory frameworks in states where it is available for
medical or recreational purposes.
The marijuana industry grew at a 30 percent
annual rate from 2015-2016, with Arcview Market Research predicting
a 25 percent compound annual growth rate through 2021. As large as
it is diverse, the industry now serves 29 U.S. states and the
District of Columbia, where marijuana has become legal for
medicinal and/or recreational use. Demand, supply, and product
diversity are fueling the growth. The requirements in place that
allow financial institutions to work with the cannabis industry are
complicated and the consequences of not complying can be severe.
Despite this, many institutions want to enjoy the benefits of this
massive new market sector, but are lacking in the crucial
compliance knowledge and experience.
In an effort to capitalize on a market that is
severely underserved with the availability of viable banking
options, MTRAC, a full service financial technology organization,
is maintaining a sharp focus on securing partnerships with
established compliance financial organizations. It is particularly
interested in working with companies that possess a proven
knowledge of the compliance and regulatory requirements that are
necessary to effectively operate within the cannabis industry from
a banking perspective.
About Global Payout, Inc. (OTC Pink:
GOHE)
Since the Company's inception in 2009, Global
Payout, Inc. has been a leading provider of comprehensive and
customized prepaid payment solutions for domestic and international
organizations distributing money worldwide. In 2014, Global
introduced its first online payment platform called the
Consolidated Payment Gateway (CPG), which allowed its enterprise
clients to transfer money to international bank accounts, mobile
accounts, and prepaid card accounts. The development of the CPG
became the foundation for the introduction of its new, state of the
art FINTECH payment system in 2017, for both online and mobile
applications to allow account holders to maximize an expanded suite
of financial services and minimize operational costs. Global will
continue to offer their FINTECH payment system to many vertical
markets for support of foreign currency exchange and digital
currency, including ongoing support of the banking industry and
international governments.
Forward-Looking Statements
Disclaimer:
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. In some cases, you can identify
forward-looking statements by the following words: "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "ongoing," "plan," "potential," "predict," "project,"
"should," "will," "would," or the negative of these terms or other
comparable terminology, although not all forward-looking statements
contain these words. Forward-looking statements are not a guarantee
of future performance or results, and will not necessarily be
accurate indications of the times at, or by, which such performance
or results will be achieved. Forward-looking statements are based
on information available at the time the statements are made and
involve known and unknown risks, uncertainty and other factors that
may cause our results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by the forward-looking statements in this
press release. This press release should be considered in light of
all filings of the Company that are contained in the Edgar Archives
of the Securities and Exchange Commission at www.sec.gov.
Public Relations and Media Contact:
Global Payout
www.GlobalPayout.com
619.795.5180 Office
Information@GlobalPayout.com
Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com