SAN DIEGO, CA--(Marketwired - Aug 28, 2017) - Global Payout, Inc. (
Because marijuana is illegal on a federal level in the United States, the industry is largely underbanked. As a result, most cannabis companies and dispensaries lack an electronic method to complete secure payments, instead conducting all-cash transactions. This environment creates significant challenges in terms of accounting, cash management storage, and safety. Global Payout recognizes bitcoin as the quickest, safest and most reliable way to fill this void and help cannabis companies more efficiently conduct their business.
"Since there is an inability to access commercial banks for merchant bank accounts, we feel it is imperative to focus on currency alternatives such as bitcoin to service cannabis industry transactions. Furthermore, our payment system is completely ready for use. It will not require a great deal of time or money to incorporate bitcoin into the equation," says Global Payout founder and CEO Jim Hancock.
Joe Sebo, CFO of Global Payout adds, "Everyone in the payment processing world is racing to provide the cannabis industry with a cashless alternative using bitcoin technology, and the companies that accomplish this task will realize incredible profits. I believe Global Payout is one of those companies."
Global Payout will continue to update the public and its shareholders on the developments of its monumental blending of bitcoin technology and financial transactions within the cannabis sector.
About Global Payout, Inc. (
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.
About MoneyTrac Technology (MTRAC)
MoneyTrac Technology, Inc. is a pioneer in offering a full-service solution for alternative banking and electronic financial solutions and provides all aspects of financial technology including E-Wallet and mobile apps services for businesses and companies in various "high-risk" industries, mainly the cannabis industry. MoneyTrac's technology platform allows for its clients to access their financial information from anywhere in the world, in addition to providing tracking and compliance to help them manage and control the flow of all revenue through their business.
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