SAN DIEGO, Oct. 23, 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 the Company successfully went live with their payment platform at Jardín, (www.jardinlasvegas.com) one of Las Vegas, Nevada’s most successful recreational cannabis dispensaries. This represents the Company’s first client in the Nevada market, and the company anticipates this launch to draw interest from many companies operating in that space. This move also signals the intent of the company to rapidly expand to states outside of California to capitalize on the multibillion-dollar cannabis industry.
Stormy Simon, MTrac Strategy Officer stated, “The expansion of the MTrac payment platform outside of the San Diego market is something we have been planning strategically for some time now. With key members of our team already in place in Las Vegas at our operations hub, it was the logical selection for the market we wanted to begin targeting next. In addition, Nevada merchants have extended hours of operation which allow for greater transaction processing and given the extent of late hours, the system again provides added layers of safety by eliminating the risks associated with cash.”
Recognized as one of the premier and highest rated dispensaries in Las Vegas, Jardín is the first dispensary in the state of Nevada to offer its valued consumers the convenience of checking out using a credit or debit card via MTrac’s secure and legally compliant blockchain powered platform. The state of Nevada, in its first year of legalization, has generated over $400 million in recreational cannabis sales. Jardín is one of the most popular dispensaries in Las Vegas with a highly respected reputation that extends throughout the cannabis and entertainment industries. MTrac is thrilled to enter the Nevada market with such a strategic flagship partner to deliver its revolutionary payment management system in a high-profile environment.
“Merchant processing has been one of the most elusive and unreliable aspects of the industry to date, and it’s an issue that continues to present challenges for cannabis merchants across the country,” said Adam Cohen, Jardín Owner / CEO. “We are very excited to offer our customers the ability to make purchases at the register using their credit or debit cards with a system that is compatible with our existing point of sale system. We strive to offer our customers the safest and most reliable way to pay, which is why we chose MTrac.”
The newly released version of the MTrac system in conjunction with Cultivate Technologies has now, in the short time since launch, processed over 5 times the amount of volume in the previous three months combined. MTrac is currently on-boarding new merchants weekly with plans for mass deployment in several states before year end.
“This is just the beginning,” said Global Payout CEO, Vanessa Luna. “The MTrac system has made significant head way both on a service and software systems and with legislative and government relations initiatives. We have positioned this company for mass adoption, have strategically launched our system to maintain compliance and co-built this operation with the merchants in mind. We will strive to be the provider of choice for the cannabis industry, and every industry to follow that wants to level the playing field in transparency and sufficient processing that is both reliable and backed by blockchain technology. I look forward to future announcements regarding revenue and the continued growth and expansion of MTrac.”
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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