SAN DIEGO, CA–GOHE, (Marketwired – Apr 19, 2017) – Global Payout, Inc. (OTC PINK: GOHE) (the “Company”) is pleased to announce that its wholly owned subsidiary, MoneyTrac Technology, Inc. (“MTT”) has selected the Virtu Network Solutions (“VNS”) brand to provide MTT with the financial technology platform MTT will utilize to service their clients in the alternative banking sector.
VNS offers a banking and payment platform uniquely tailored for companies and businesses in industries often viewed as “high-risk,” such as those in the cannabis industry, which is at the core of the MTT’s target market, and offers a state-of-the-art web-based platform for electronic payment processing, banking integration and e-wallet capabilities. In addition to these features, the VNS banking and payment platform also provides users with a “virtual currency type network” system that features stringent compliance and regulatory processes that the Company believes is an ideal solution for numerous cannabis-related businesses across the U.S. that are currently in need of payment processing solutions outside of those offered by traditional banks.
“Payment processing and financial compliance for many cannabis-related businesses remains a significant challenge, particularly given the fact that many banks continue to view these businesses as ‘high-risk’ and in some cases, refuses to extend their services to them,” said MoneyTrac, COO Vanessa Luna. “In having had the opportunity in recent weeks to meet with several different owners of cannabis-related businesses, I have gained a better understanding of the obstacles and impediments they are faced with from a payment processing standpoint, and as such, I truly believe that the VNS platform is a powerful solution that can help guide them through these challenges, while also solidifying their internal financial compliance responsibilities,” Ms. Luna further remarked.
MTT intends to continue to structure and position itself as a premier service provider in the alternative banking sector by targeting a client base in the burgeoning cannabis industry where the need for payment processing and compliance technologies continues to increase at a steady pace. Furthermore, although no assurances can be provided that definitive agreements will result, MTT has already begun to leverage their strategic position in the alternative banking sector as they are in the process of finalizing Letters of Intent with various cannabis-related businesses for their financial services, which will now also include the use of the VNS platform.
About Global Payout, Inc.
Since the Company’s inception in 2009, Global Payout, Inc., www.globalpayout.com, 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
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. 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 Disclosure:
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof . Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.
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Global Payout, Inc.
MoneyTrac Technology, Inc.
Virtu Network Solutions