SAN DIEGO, CA, Oct. 10, 2017 (GLOBE NEWSWIRE) — Global Payout, Inc. (OTCPink: GOHE) (“Global”) is pleased to announce that its majority owned subsidiary, MoneyTrac Technology, Inc. (“MTRAC”, the “Company”) is currently in the final stages of facilitating an exclusive Joint Venture Partnership agreement (“JV”) with an established financial institution to bring effective banking solutions to businesses operating within the expanding, yet underserved, cannabis industry.
While terms and other pertinent details associated with the JV will be released upon the anticipated execution of it, MTRAC and its parent company, Global Payout, Inc., believe that it may translate into significant revenue earning opportunities for MTRAC as they will become one of a very select group of companies equipped with the necessary resources to deliver banking solutions within the multi-million-dollar cannabis industry.
“The potential surrounding the anticipated completion of this Joint Venture is absolutely huge for our MoneyTrac Technology brand,” said MTRAC CEO, James Hancock. “MoneyTrac was launched almost exclusively to address the many different challenges that businesses in the cannabis industry face with trying to operate their legitimate business, and one of those challenges remains the lack of access many of them have to banking solutions. This JV would allow us to provide a much-needed solution to these businesses and put our company in a position to potentially secure a number of revenue generating service agreements that could most certainly create significant short and long-term revenue streams for us in addition to increasing the value of our service offerings for our clients within this industry,” Mr. Hancock commented further.
The company plans to continue working diligently to complete JV and will release more details as they become available in the coming weeks.
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.
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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