SAN DIEGO, Oct. 09, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Payout Inc. (OTCPink:GOHE) (“Global”) and its wholly owned subsidiary MTrac Tech Corp. (“MTrac” or the “Company”) are pleased to announce that the new Pin Debit system has been deployed in one of the earliest merchants to sign on with MTrac, and the Company is pleased to report that the new system is live and has significantly increased the number of transactions processed through the MTrac Platform in recent days. The goal of MTrac has been, and continues to be, to provide seamless merchant processing for high risk industries such as Cannabis, and the new system developed by Cultivate and brought to market by MTrac makes it easier than ever.
The new Pin Debit system is virtually identical to a regular merchant processing station, but with the added features of Blockchain technology, such as its inherent security and unparalleled record keeping abilities. The payment platform can be fully integrated with existing Point of Sale systems but also works flawlessly as an external payment method. The back-end merchant wallet acts as a virtual bank account, providing merchants with a robust portal for business expenditure management and reporting. The ability of the system to process traditional credit and debit card transactions has paved the way for widespread adoption. With quicker checkout and less workarounds for consumers, such as those with the mobile app or pre-paid card, merchants are able to process more clients per day while increasing sales through card transactions. The ease of use exposes its own utility in the number of increased transactions per hour, which was revealed over the weekend in the Company’s first live test case where daily gross sales and volume of transactions have demonstrated a steady increase for the merchant when compared to the previous version of the MTrac Platform.
Over the next few days, the Company fully anticipates the successful completion of its first live test case of the new MTrac Platform and is poised to rollout the system with three additional merchants before week’s end. The ease of deploying and installing this new system makes scaling much easier compared to the previous solution, and the company is looking to board dozens of new merchants across the country in the coming weeks.
“We were extremely excited to see Cultivate’s enhancement to the platform,” Said Global Payout CEO, Vanessa Luna. “In taking the first version of our MTrac Platform to market we discovered that many merchants and users had noted the two-step process with the mobile app as being somewhat cumbersome to use for simple merchant processing and we immediately identified this crucial feedback as something we would need to address in order to achieve the mass adoption of our platform with both the merchants and consumers. The integration of the Pin Debit technology brought to us by Cultivate has not only addressed this precise issue, but in my opinion has solved it entirely and in the process has placed this Company in the best position it has ever been in to produce revenue.”
About Global Payout, Inc. (OTC Pink:GOHE)
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 for alternative banking and electronic financial marketplace 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 CashlessTM”
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