Global Payout, Inc. (OTC Pink: GOHE) is a comprehensive payment solutions provider across the world. Shares of the payment solutions company are rallying 20%, through afternoon trading on Tuesday, August 29, 2017. Over the past month, Global Payout, Inc. has seen average daily volume of 1.88 million shares. However, volume of 5.11 million shares or dollar volume of $122,640, has already exchanged hands on Tuesday.
Shares of Global Payout, Inc. are jumping today, after the company recently announced it will now allow Bitcoin to be used for payment by retail and wholesale cannabis customers. The company’s initiative is to help the largely “unbankable” legal cannabis industry accept digital currency payments and move away from a cash-only system. Here is the full press release detailing of the new Bitcoin payment capabilities:
Global Payout, Inc. Press Release:
SAN DIEGO, CA–(Marketwired – Aug 28, 2017) – Global Payout, Inc. (OTC PINK: GOHE) is pleased to announce that it will incorporate Bitcoin as a payment method for retail and wholesale customers in the cannabis industry. In providing a solution for the logistical headaches and constant security threats to cannabis businesses, Global Payout’s majority owned MoneyTrac Technology, Inc. (“MTRAC”) subsidiary will leverage its virtual financial wallet technology to eliminate cash payments for cannabis at retail stores.
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, Inc. 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, Inc. 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. (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.
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.