SAN DIEGO, Jan. 29, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE — Global Payout, Inc. (OTCPink:GOHE) (“Global”) is pleased to announce that its majority owned subsidiary, MoneyTrac Technology, Inc. (“MTRAC”, the “Company”) has completed a Joint Venture Partnership agreement (“JV”) with Integrated Compliance Solutions, LLC (“ICS”), a premier “Seed to Banktm” provider of financial and regulatory compliance services and solutions for the multi-billion-dollar retail cannabis industry.
As MTRAC has continued to make significant headway in recent weeks in the development of a strong foundation that is required to deliver legitimate banking solutions to the legal cannabis industry. The Company views the establishment of this JV Partnership with ICS as a critical opportunity to fortify the compliance aspects of the banking solutions that are being co-developed by MTRAC and the strategic partners with which they have been collaberating.
Said MTRAC CEO, Vanessa Luna: “The importance of compliance in an industry that is so heavily regulated like retail cannabis is something that cannot be understated. The ICS team carries several years of valuable experience with them in the field of regulatory compliance solutions and financial technology services for banking, and their integration into the banking solutions we are dedicated to delivering to the cannabis industry is not only significant, but essential to our commitment of providing retail cannabis businesses with the most compliant and regulated banking solution available.”
Said ICS CEO, Christopher Johnson: “It should come as no surprise that the retail marijuana business is one of the highest risk spaces in retail. Being able to effectively track and manage KYC and source of all funds is imperative for these businesses who are focused on operating retail establishments that are not only profitable but are fully compliant with all financial regulatory requirements. Our “Seed to Bank” technology solutions give these businesses the tools necessary to navigate the challenging and changing compliance waters, and I am excited to be joining MoneyTrac and its group of experienced partners on this important venture of bringing real banking solutions to the growing industry of cannabis.”
MTRAC intends for much of its focus over the coming weeks to surround incorporating the multiple strategic partnerships it has cultivated within the financial, banking, and compliance service sectors into the ongoing co-development of a banking solution that meets the demands and needs of the emerging retail cannabis industry.
About Global Payout, Inc. (OTCPink: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
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.
About Integrated Payment Solutions
ICS is the industry leader in compliance software and innovative, cost effective merchant payment solutions. Their experience in financial services and payments technology allows them to apply the heightened federal requirements to preferred providers that meet strict requirements. The result: a competitive, complete, and stable set of services that complement the merchant’s goals. As a Seed to Bank compliance partner, ICS has simply been used by more banks, more MRE business, and for longer than any one of their competitors in the space. Their services are proven and well respected in the industry.
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