SAN DIEGO, June 19, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Payout Inc. (OTCPink: GOHE) (“Global” or the “Company”) and its wholly-owned subsidiary MTrac Tech Corporation (“MTrac”) are pleased to announce that the Company has deployed its cashless payment solution into the rapidly expanding Cannabis/CBD delivery market sector. To date, the MTrac platform has offered a compliant retail payment solution for brick and mortar stores, but with a set of recent modifications made to the platform’s software, the system is now capable of processing seamless transactions on cellular-powered mobile terminals for secure digital payments at the point of delivery.
As we believe we are the most seamless solution of all the compliant payment providers in the industry today, the company is proud to expand its reach to a delivery market that is very much in need of a safe and secure alternative payment method. Without access to traditional merchant processing systems, delivery drivers may oftentimes hold large amounts of cash. We believe this presents multiple safety concerns including the risk of loss due to mishandling and putting drivers at risk as potential targets for theft. The MTrac delivery units are integrated to the blockchain, which means that transactions are processed with the same level of security and are recorded on the immutable ledger in the same manner as retail brick and mortar systems.
MTrac has already signed and begun working with a number of licensed delivery companies and a major technology platform that facilitates delivery services through licensed dispensaries. “The cannabis delivery market is massive, but it also represents an untapped demographic with unlimited potential for growth,” said Jason LeBlanc, MTrac CCO. “Safety and security are always at the forefront of everything we do, and providing our solutions to delivery services achieves this for our clients and the community at large.”
The Company anticipates this solution offering to add significantly to its current revenue stream and will keep shareholders apprised of its progress at regular intervals.
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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Source: Company press release.