SAN DIEGO, Oct. 03, 2019 (GLOBE NEWSWIRE) -- Global Payout Inc. (OTCPink:GOHE) (“Global” or the “Company”) is pleased to announce that Global Payout CEO Vanessa Luna has been invited to participate in a panel discussion at California’s 1st Annual Cannabis Policy Summit in Oakland, CA, on October 18 of this year. Joining her in attendance will be Jason LeBlanc, MTrac Chief Compliance Officer. This invitation comes at the end of a series of successful meetings held in Sacramento with various legislators and regulatory agencies.
Over the last week, MTrac had an opportunity to present to state officials the features and functionality of its SAAS solution to serve as a tool for banks and regulators to enhance the availability and transparency of financial services offered to the state’s legal cannabis industry.
The presentations focused on the system’s ability to allow compliant electronic payments in its closed loop platform while providing transparency through the secure tracking capabilities of the wallet’s blockchain ledger as a reconciliation tool for financial reporting. In terms of practical application, the system’s checkout flow, which mirrors traditional card processing by automating the wallet load process, was appealing as a market differentiator for mass adoption, which translates to more tax revenue for the state.
“Our holistic approach to payment processing in the cannabis industry is three-pronged and includes 1) the promotion of public safety through the elimination of the reliance on cash, 2) normalizing state licensees’ access to financial services, 3) providing a transparent, digital avenue for bank deposits to pay taxes and manage financial positions, and we were certainly encouraged by the feedback we received in presenting this approach to the state,” said CEO Vanessa Luna. “Since MTrac’s conception, our goal has been to assist regulators in navigating the complexities and challenges caused by the contradictions between state and federal cannabis laws. These meetings were a culmination of our efforts to deploy into the market over the last year and establish our proof of concept, with an opportunity to present to state lawmakers that a practical and viable solution exists now through an innovative technology that has been developed by the private sector.”
The impressive line-up of meetings in the state’s capital was made possible by Strategies 360, MTrac’s government affairs associates, and the MTrac team is honored to have received an invitation to the Policy Summit later this month. MTrac and its partners look forward to working with state officials to continue advancing initiatives that ensure a secure and transparent cannabis industry in California.
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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Media Contacts:
Global Payout, Inc.
www.globalpayout.com
(702) 790-2511 Ext. 101
Ir@globalpayout.com
MTrac Tech Corp.
www.Mtractech.com
(702) 790-2511 Ext. 101
ir@mtractechcorp.com