SAN DIEGO, March 28, 2019 (GLOBE NEWSWIRE) -- Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) and its wholly owned subsidiary MTrac Tech Corporation (“MTrac”) are pleased to announce that MTrac has entered into two new markets, Oregon and Hawaii.
Oregon was one of the first states in the U.S. to legalize cannabis on an adult-use recreational level, and Hawaii is legal for medicinal purposes only. There is legislation being considered on a national level to provide protection to financial institutions that deal with cannabis, but in the current environment many legal businesses remain cut off from basic banking services. In fact, Hawaii just missed the opportunity to pass its adult use bill, so the state remains medicinal, similar to New Jersey, with many of its lawmakers voicing concerns about the regulatory aspects of a fully recreational market that has limited access to financial services. The MTrac platform, built on a closed loop system and utilizing blockchain ledger technology, has proven to ease concerns with regulators and garner significant interest with merchants and bankers alike.
“We understand the range of concerns regarding the lack of financial solutions from all stakeholders in the industry, and we feel confident that the MTrac platform not only helps businesses to run normal payment operations, but our innovative system also allows banks to engage with businesses with less risk in the current regulatory environment,” said MTrac COO Jason LeBlanc. “There has never been a time when a multi-billion dollar industry lacked access to financial services, but this disconnect in the cannabis industry has created an opportunity for finance and technology to converge as a major problem solver, and we are thrilled to be delivering our solutions to the states of Oregon and Hawaii.”
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. From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global’s current focus is continuing to identify new business opportunities while it reorganizes its future business endeavors.
About MTrac Tech Corp.
MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Global Payout, Inc. MTrac is a software technology, sales and marketing, and business development company focused on “high risk” and “high cost” industries. The Company’s flagship product is the MTrac payment platform offering a full-service solution with technology offerings including Payment Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions. We are one network disrupting the status quo. It is MTrac’s creative vision through the use of its innovative technology solution to become the premier service provider offering the Key to Cashless®.
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Global Payout, Inc.
(702) 790-2511 Ext. 101
MTrac Tech Corp.
(702) 790-2511 Ext. 101