Tag: MSRT

Opportunities for Growth Found in Burgeoning Cannabis Industry

CannabisNewsWire Editorial Coverage: The legalization of cannabis for recreational use in Canada appears to be certain by the end of summer. The legislation to begin that process was passed by the government in late 2017 and passed a second reading in the country’s Senate in March 2018; the final vote is scheduled for June of this year, and the passage appears all but certain. Approval of the law — along with the fact that recreational cannabis is already legal in nine U.S. states — will spark an industry that forecasts indicate may reach as high as $12B in North America (http://cnw.fm/Fem3T), an irresistible opportunity for companies in all areas of the cannabis industry, as well as for companies looking for new ways to grow. Among the companies positioning themselves to be top contenders in this potentially incredibly lucrative area are Global Payout, Inc. (GOHE) (GOHE Profile), Kush Bottles, Inc. (OTCQB: KSHB), General Cannabis Corporation (OTCQB: CANN), MassRoots Retail (OTC: MSRT), and Growlife, Inc. (OTCQB: PHOT).

Smart Companies Looking to Enter the Market

Cannabis as a growing market can’t be ignored, and smart companies are eager to identify ways to enter the market — even if they don’t grow or sell marijuana. These companies are taking advantage of innovative opportunities ranging from payment solutions, accessories, technology, medicine and more. Global Payout, Inc. (OTC: GOHE) has become a leader in providing cannabis companies with support in many different areas.

One of Global Payout’s most recent forays into the industry is its involvement — through partner MoneyTrac Technology (MTRAC) — with PotSaver, a southern California-based community magazine that provides information about discounted cannabis-related products for local dispensaries and shops. Moving forward, MTRAC will provide Pot Saver with fundamental support and guidance needed to execute its strategy (http://cnw.fm/8WqxF).

“With the medical and recreational cannabis industry growing at an unprecedented rate in California, we are determined to be conscious of the multiple opportunities that currently exist, or that we can create for MoneyTrac to further expand its brand throughout the industry as well as tap into every available revenue source possible,” said MTRAC COO Vanessa Luna. “This agreement with Pot Saver is an excellent opportunity for us to offer the industry-specific business development expertise we have acquired to help further PotSaver’s go-to-market strategy, while simultaneously creating a new source of revenue for our company as we continue to expand our own brand throughout the industry.”

Subscription Model Designed for Readers

Most recently, the PotSaver brand is expanding its sales and marketing efforts for MoneyTrac’s signature magazine publication by launching a subscription-based model (http://cnw.fm/B9gV4). This move provides subscribers with an electronic version of the publication emailed to them monthly. In addition, PotSaver has ramped up its social media efforts in an effort to grow its subscriber base and expand its presence in San Diego County.

In just one weekend, the PotSaver sales and marketing team acquired close to 1,000 new subscribers for its publication, which is distributed monthly to a variety of newsstand locations throughout San Diego. In the coming year, the company plans to focus on building a substantial subscriber list and moving away from its hard copy newsstand distribution model.

This move also allows PotSaver to provide much more targeting messaging and information. It also provides the company with more detailed information related to its subscribers, which will allow the publication to deliver an experience that is tailored more effectively to its readers.

“The launch of a subscription-based model truly represents the natural evolution of PotSaver,” said Aaron Adler, PotSaver founder. “We recognize we are in a market that is very much driven by a millennial population that demands convenience, and through a subscription they can now receive PotSaver every month right on their phone, tablet, or computer. The subscription-based model also creates an opportunity to target consumers in a more effective manner by leveraging geographic information to present them with a publication that offers them discounts closer to home, and more in line with their needs.”

An Alternative Finance Option

In addition to its involvement with PotSaver, Global Payout and MTRAC continue to lead the way in providing financial services for cannabis companies. Though the use and sale of medical marijuana is legal in 29 states (http://cnw.fm/c6Drq), federal legislation remains the same as when cannabis was included as part of the government’s intense war on drugs. Consequently, most financial institutions refuse to provide services to cannabis companies for fear of prosecution.

This means that cannabis merchants have been forced to work in a cash-only economy, creating both inefficiencies and higher risks of fraud, theft and accounting errors. As a result, cannabis companies have been searching for alternative payment methods. Global Payout and MoneyTrac technology are moving to provide that service.

A technology and business development company whose motto is “Key to Cashless™,” MoneyTrac works to provide an alternative to the more traditional banking and electronic finance options. In order to do so, MoneyTrac has leveraged blockchain technology, the leading way of transferring value outside of the mainstream banking sector. Blockchain is a distributed ledger system — a form of data keeping where responsibility for the record is shared across a network rather than kept in one place.

Blockchain payments offer cannabis companies numerous advantages. Any customer can access blockchain system, regardless of whether they have a bank account. Money transactions are made without any involvement with banks, which are wary about involvement in cannabis. Payments are almost instantaneous, and because transactions are recorded over a distributed network, no controllers are creating bottlenecks or the risk of a single point of failure.

MoneyTrac’s MTRAC payment system is powered by GreenBox blockchain technology (http://cnw.fm/GVSh6) and provides cannabis companies with a payment system that includes electronic payments, decreasing the risks and inefficiencies of working with cash. Customers can load a card or digital wallet at a MoneyTrac kiosk. Though currently focused on the cannabis market, this option may benefit other companies in high-risk sectors or that are searching for ways to benefit from blockchain.

An Intricate Knowledge of the Industry

MoneyTrac provides other support services for cannabis businesses as well. Many cannabis retailers are new to the industry and are exploring ways to best position themselves. Effective sales and marketing is always difficult for any business, but in a sector that is as heavily regulated as cannabis, it can be especially challenging.

The MoneyTrac team has garnered years of knowledge and experience in business development and can provide invaluable advice and support as team members guide clients through the challenges and opportunities that come with starting and running profitable businesses. Developed through strategic partnerships across the financial sector, MoneyTrac professionals possess an intricate knowledge of the cannabis industry and can ensure their clients are in regulatory compliance.

Cannabis Companies Vying for Position

Other companies are eager to provide ancillary goods and services in the cannabis world as they jockey for position in what looks to be one of the most financially rewarding opportunities of the year.

Headquartered in Santa Ana, California, Kush Bottles, Inc. (OTCQB: KSHB) sells packaging, containers, and other ancillary products for the cannabis industry. The company helps entrepreneurs entering the cannabis industry overcome barriers to entry. Kush Bottles is a one-stop shop for any business looking to operate responsibly and build its brand. Most recently, the company entered into a merger agreement to acquire Summit Innovations, a leading distributor of hydrocarbons to the legal cannabis industry (http://cnw.fm/uN0Un).  Hydrocarbon gases are used to turn cannabis plants into oils, and this acquisition marks Kush Bottles’ entry into a new business vertical supplying gas to cannabis extractors.

 General Cannabis Corporation (OTCQB: CANN) is a trusted partner in the cultivation, production and retail side of the cannabis business. The company operates a combination of strong operating divisions such as real estate, consulting, security, financing and the distribution of important infrastructure products to grow facilities and dispensaries. Just last month one of General Cannabis’s companies, Chiefton Supply Co., signed a distribution deal to supply national action sports retailer Tillys with its first hemp apparel brand (http://cnw.fm/31wBc). An exclusive run of Chiefton’s spring line of men’s T-shirts will be available in Tillys retail locations across the country, as well as purchase online.

 MassRoots Retail (OTC: MSRT) is one of the leading technology platforms for the cannabis industry. The company’s social platform is one of the largest communities of cannabis enthusiasts. Powered by more than one million registered users, MassRoots enables consumers to rate products and strains based on their efficacymand then presents this information in easy-to-use formats for consumers to make educated purchasing decisions at their local dispensary. Businesses are able to leverage MassRoots also provides a way for businesses to strategically advertise to consumers based on their preferences and tendencies.

Growlife, Inc. (OTCQB: PHOT) is a nationally recognized cultivation brand, providing world-class hydroponic equipment, lighting, nutrients, media, and other cultivation supplies to commercial and urban operations. Earlier this year, Growlife announced the launch of a new line of sustainable eco-friendly products for the indoor cultivation market (http://cnw.fm/KFa6T). These new products will allow GrowLife’s customers to play a role in providing a greener economic footprint compared to traditional indoor cultivation methods while remaining efficient on output and profitability.

Many companies are clearly eager to identify new ways to be part of the burgeoning cannabis industry—an industry set to explode within the coming months as the journey to legalization marches around the world.

For more information about Global Payout, Inc., please visit: Global Payout, Inc. (GOHE).

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

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Subsidiary Industries Prepare for Growing Cannabis Market

CannabisNewsWire Editorial Coverage: Impending legislation in Canada is the most recent step in the spread of legal cannabis consumption. As the industry grows, so do the support businesses supplying related services for retailers and consumers. Global Payout, Inc. (GOHE) (GOHE profile) is providing payment systems and business support through its MoneyTrac partnership. MassRoots Retail (OTC: MSRT) is using blockchain to provide a review aggregator and dispensary finder. GB Sciences, Inc. (OTCQB: GBLX) is working in research and design, focusing its efforts on growing more effective strains and exploring better delivery systems. Lexaria Bioscience Corporation (CSE: LXX) (OTCQX: LXRP) is also improving delivery systems through research aimed at improving the effectiveness of orally consumed cannabinoids. And for the cannabis-focused consumer, General Cannabis Corporation (OTCQB: CANN) has set up Chiefton Supply Co, a clothing brand catering to the growing cannabis culture.

Across the board, the cannabis industry is becoming a more diverse and interesting place.

The Broader Potential of Recreational Cannabis

After many months of political maneuvering, this summer will see the legalization of cannabis for recreational use in Canada. It’s a huge step, even in a country where medical cannabis is already widely available. The expanded Canadian cannabis market is expected to be worth between $10 and $20 billion with many companies preparing to take a chunk of the supply and retail business.

That vast market won’t just consist of cannabis growers and retailers. Many other businesses are looking for entry points into the cannabis industry, whether it’s through payment solutions, accessories, technology, or any of the other products and services that businesses and consumers will be looking for. Businesses who get in now won’t just profit from what’s going on in Canada. Dozens of states and the District of Columbia currently have laws broadly legalizing marijuana in some form, and legalization is spreading. The global medical cannabis market alone is expected to reach $55.8 billion by 2025 (http://cnw.fm/2EjPt), so there is a potential for tremendous growth for early cannabis support businesses.

Secure, Straightforward System

Any retail business needs a secure, straightforward system for taking payments. That system needs to be adapted to their particular needs, whether it’s portability for market stalls or strict security for high price transactions. Global Payout, Inc. (GOHE) is providing payment solutions adapted to the special needs of the cannabis market.

The outlet for this project is MoneyTrac Technology, a Global Payout partner. In collaboration with Greenbox, another partner company, MoneyTrac has launched a payment system specifically geared towards the cannabis market, which will make payments easier and more secure.

The need for such a solution stems from the legal status of cannabis in the United States, currently one of the largest legal cannabis markets. Though cannabis is legal for recreational use in six states and for medical use in over twenty more, it is still covered by antidrug legislation at the federal level. U.S. banks are wary of providing payment services to any cannabis company, even a legally recognized one, in case they come under scrutiny for providing finances to support illegal endeavours.

This situation has created unnecessary risks for cannabis merchants because they have had to work on a cash basis, which can create inefficiencies and increase the risk of theft or fraud. Any group that can offer a way out of this trap could draw business from across the states because cannabis vendors know that a better payment system will more than pay for itself.

The Cutting Edge of Technology

A technology and business development company whose motto is “Key to Cashless™,” MoneyTrac is providing a payment solution for cannabis and other high-risk business areas. MoneyTrac is achieving this by using one of the hottest new technologies of the past few years — blockchain computing.

Blockchain is a distributed ledger system in which electronic records are kept over an open network of participants rather than centralized in a single place. Its most famous use is as the foundational technology behind bitcoin and other cryptocurrencies. But it can also be used for other purposes, including supply chain management and smart contracts that automatically deliver their payments on completion.

Through cryptocurrencies, blockchain has allowed payments to take place outside of the conventional banking system. The creators of the technology intended this to remove the stranglehold of banks and governments on personal finance, thereby improving the efficiency and freedom of financial networks. For the cannabis industry, it means a way of making electronic payments without banks being involved, thus escaping cash-based transactions.

In early April 2018, MoneyTrac launched its blockchain payment system, MTRAC. It provides a payment system in which customers put their money in at one end and retailers are able to extract it at the other end. Customers simply charge up a digital wallet at an MTRAC kiosk or load it from their linked bank account or credit card, then use the money to pay for goods at any vendor using the scheme. In fact, the app can be used to generate a digital Visa or MasterCard gift card that can be used at any retailer that accepts those forms of payment. Banks don’t even need to be involved in the cannabis-buying process.

MoneyTrac’s system provides greater security for cannabis businesses and customers. It can also be used to increase business efficiency through the addition of inventory management, payment processing, and seed-to-sale tracking. For customers, it provides a secure, simple way to pay. For merchants, it is a complete way of tracking the flow of goods and money, increasing efficiency through clear, secure, integrated record keeping.

Wide Support Services

In developing an integrated payment solution, MoneyTrac has gained deep insight into the cannabis industry and how it works. It has also developed a team of employees and a network of contacts that allow it to provide wider support services.

The services MoneyTrac offers to clients include business development, sales and marketing, and guidance on compliance. With so many regulations in place around both cannabis and finance, it’s important for those running a cannabis business to understand and strictly adhere to the rules governing them. MoneyTrac can help in this complex area.

These extra services aren’t just a way to make additional income. They help ensure the long-term viability of the MTRAC payment system. If the companies using the systems are well supported, they are more likely to come out on top of the growing cannabis market, making MoneyTrac’s payment solution a crucial part of the industry.

Backed up by the extensive finance and payment experience of the Global Payout team, MoneyTrac offers a secure, efficient payment system for the cannabis sector. By adding other software and services, it is carving out a niche as an important support system in this growing industry.

A Complete Economic Ecosystem

Like so many sectors, cannabis is developing a broader economic ecosystem. A range of companies are stepping up to provide additional products and services related to cannabis.

Like Global Payout, MassRoots Retail (OTC: MSRT) is exploring the potential of blockchain. The company uses blockchain technology to power features in its business portal. The company provides a central hub for reviews of cannabis products and strains, as well as a dispensary finder. These are available through a phone app, making it easier for customers to find the right product and dispensary for them. MassRoots recently revamped the system to introduce new features and incentivize reviews.

Research and development are among the most important support services for the cannabis market. Legalization is making it easier for research to be carried out and the effects of cannabis to be understood. GB Sciences, Inc. (OTCQB: GBLX) works on this side of the market, developing refined cannabis strains that provide a better proportion of active ingredients. It is working with the University of Seville to bring a new time-released cannabinoid formulation to market. As the market grows, so will research into strains, delivery systems and new medical uses, providing more business for companies such as GB Sciences.

Lexaria Bioscience Corporation (CSE: LXX) (OTCQX: LXRP) is another of the companies focused on cannabis research. Its particular focus is on improving the effectiveness and flavor of orally consumed cannabinoids, for which work it has a partnership with the Canadian government’s National Research Council. Oral consumption has great potential to deliver the medical benefits of cannabis without the harmful effects of smoking, and so could be important in unleashing cannabis’s medical potential. With Lexaria’s out-licensing business model, this beneficial technology could be used by many companies, while boosting Lexaria’s research and profits.

General Cannabis Corporation (OTCQB: CANN) is providing a different sort of subsidiary business through Chiefton Supply Co. clothing brand. As cannabis culture spreads and becomes above board, the company is providing distinct, stylish clothes to go with a cannabis-influenced lifestyle. A recently announced distribution deal (http://cnw.fm/LcFR9) with national retailer Tilly’s will see the company reach a wide market.

As cannabis becomes more accessible, companies are finding a wide range of ways to profit from subsidiary services. From T-shirts to payment processing, services for this sector offer incredible potential for business growth and development.

For more information on Global Payout, Inc., please visit Global Payout, Inc. (GOHE).

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

Cannabis Industry Leads the Way in Payments Revolution

CannabisNewsWire Editorial Coverage: Financial services are undergoing a period of change as high-risk businesses, often excluded from conventional banking systems, search for alternative ways to process payments. Companies such as Global Payout, Inc. (OTC: GOHE) (GOHE Profile) are providing payment systems for high-risk ventures such as the cannabis industry, saving vendors from the need to operate exclusively on cash. SinglePoint, Inc. (OTCQB: SING) is also working in this sector, while bringing bitcoin payments into the mainstream. MassRoots, Inc. (OTCQB: MSRT) is moving from the cannabis sector into payment processing, adapting its expertise in cannabis tech solutions to provide financial services. Cannabis grower iAnthus Capital Holdings, Inc. (OTCQB: ITHUF) is looking at the wider set of managerial and service solutions that high-risk companies need, and smartphone payment provider Glance Technologies, Inc. (OTCQB: GLNNF) is also moving into the sector through an investment in cannabis sector intelligence and analysis.

The Payment Problem

Recent years have seen high-risk industries facing increasingly tough times in accessing banking and payment services. In the United States, the government-backed Operation Chokepoint discouraged banks from providing services to industries with a high risk of fraud, such as gun sellers and payday lenders. Meanwhile, federal legislation from the war on drugs hampers finance for cannabis businesses in states where the drug has been legalized. Despite the repeal of Operation Chokepoint (http://cnw.fm/Nof7L), the threat of government scrutiny still limits the willingness of banks to provide financial services to these businesses. Even in Canada, which is due to legalize recreational cannabis this summer, banks are only now making tentative steps toward supporting the industry (http://cnw.fm/mE49s)

The cannabis industry is leading the way in finding solutions to this problem. As marijuana legalization spreads across the United States and beyond, a growing industry needs basic financial services; the alternative is to continue in a cash-based economy with the associated risks of fraud, error and theft. Businesses are stepping in to fill the need.

Financial Solutions for a Changing World

Global Payout, Inc. (OTC: GOHE) is among the companies providing solutions for high-risk businesses. Global Payout started out as an innovative supplier of financial services to mainstream businesses. In an increasingly complex world of international transactions, managing finances can be a complicated and messy job. Web-based applications offer a potential solution, but the wide variety of financial transactions has created challenging complications.

The solution provided by Global Payout is the Global Reserve Platform (GRP). A banking-in-a-box system, GRP provides a fully customizable financial system that allows businesses to handle the full range of financial transactions in one place. From managing government benefits to making biometric payments, the system offers everything a business needs. Additionally, because the setup can be adapted to the needs of different companies, it doesn’t force companies to accept a one-size-fits-all solution.

GRP is geared toward bridging divides between conventional banking and the businesses it serves. Global Payout has dealt with the practicalities of providing payment solutions in the mainstream, and, now, the company is applying its knowledge and expertise to the more challenging world of high-risk business.

Catering to the Cannabis Market

The company’s foray into this area is being led by its partner, MoneyTrac Technology, Inc. MoneyTrac is specifically geared toward serving the cannabis industry in the United States and beyond.

Because of its particular legal challenges, both internationally and within the United States, the cannabis industry may be the most in need of unconventional banking solutions. In many cases, cannabis businesses can’t access normal banking solutions as part of their daily work, making it difficult to manage payments from customers. This industry, therefore, may be the perfect sector in which to test alternative payment solutions.

Much like Global Payout, MoneyTrac provides a customizable web-based payment system. Powered by blockchain technology, the system provides fast, secure payment options that plug into conventional banking systems at either end, making it easy for customers to pay into the system and for businesses to extract their funds. This high-tech banking solution — MTRAC — was launched on April 4 (http://cnw.fm/st6rB), providing a solution for a sector in need.

“The goal of MTRAC from the beginning has been to leverage the different technologies available to us to remove the use of cash as the primary form of payment throughout the cannabis industry,” MoneyTrac CEO Vanessa Luna stated in a news release. “While other companies have struggled to find supportive financial solutions, MTRAC opted to take a different approach, and one that has relied heavily on the use of blockchain technology to address this problem for a massive and growing industry.”

By providing a payment system for the cannabis industry, MoneyTrac is fulfilling its “Key to Cashless™” objective. This has been achieved through partnerships with a range of companies in the cannabis and technology sectors, including Integrated Compliance Solutions, Crypto Value Management Systems (http://cnw.fm/K8xYY) and Greenbox (http://cnw.fm/DOv0r). By bringing together the needs of a specific sector and the potential of blockchain technology, MoneyTrac is carving out a niche in the field of high-risk payments.

Beyond the Basics

There may even be great potential for MoneyTrac’s payment solution to reach beyond the limits of the cannabis sector. The Federal Deposit Insurance Corporation (FDIC) has encouraged banks to provide services to businesses based on risk-based analysis (http://cnw.fm/d2UsM) rather than cutting off entire sectors from key financial services. Despite this, banks remain wary of high-risk customers, due to both the financial and the legal risks. Given the inherent conservatism of established banks, the situation is not unexpected, creating a space for disruptive payment providers such as MoneyTrac to fill the gap.

The company has begun diversifying its services in other ways as well. Through an investment in cannabis community periodical PotSaver, it has been able to expand its reach within its core customer base. PotSaver will be providing readers with money-saving deals on a range of products not limited to cannabis and its paraphernalia. Simply by being part of the broadening of that community, MoneyTrac is investing in reaching beyond cannabis.

A New Financial Sector

As the new financial sector is evolving, a variety of companies have advanced alternative payment solutions and financial systems. Like Global Payout, SinglePoint, Inc. (OTCQB: SING) is working to provide financial services to the cannabis sector. The two companies have worked together on providing streamlined payment services based on blockchain technology. SinglePoint is also heavily invested in bringing the cryptocurrency sector into the mainstream. The company is currently building out its bitcoin payments solution that will enable customers to pay for cannabis with cyrpto currency instantly at the point of sale.

Cannabis company MassRoots, Inc. (OTC: MSRT) is approaching the finance sector from another angle. The company is already providing a service to help customers judge the efficacy of cannabis strains and products, thereby demonstrating its ability to provide technological solutions to the needs of the sector. Now, it is establishing a subsidiary focused on blockchain, the technology at the core of cutting-edge payment solutions for high-risk industries. This will allow the company to provide financial services for cannabis suppliers and their consumers.

Finance isn’t the only support service that cannabis companies are looking to reshape to suit their needs. iAnthus Capital Holdings, Inc. (OTCQB: ITHUF), an operator of cannabis facilities across the United States, is expanding into a range of support services. Its acquisition of Pilgrim Rock Management, LLC (http://cnw.fm/X7PbJ) provides it with intellectual property licensing, professional and management services, and real estate and equipment leasing — all geared toward its core business.

Glance Technologies, Inc. (OTCQB: GLNNF) offers another alternative approach to payment through its smartphone-based payment system. This streamlined payment process allows users to easily make and track payments. Glance’s blockchain-based rewards system is being integrated into the app. The company recently invested in Loop Cannabis Insights Inc., providing it with more insight into the high-risk businesses that could benefit from its product.

Alternative payment systems offer a much-needed solution for high-risk businesses that struggle to access traditional finance. While the cannabis industry is providing a testing ground for these services, they are already spreading to the wider economy, allowing more people access to efficient payment systems.

For more information on Global Payout, visit Global Payout (OTC: GOHE).

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

Cash-Heavy Cannabis Industry Looking for Alternative Fintech Banking Solutions

CannabisNewsWire Editorial Coverage: In a world where legal cannabis is rapidly becoming more mainstream, a vexing financial issue continues to haunt the businesses and consumers taking part in this multibillion-dollar industry; namely, what to do with all that cash when federally chartered banks can’t accept it and credit card companies won’t touch it.  Marijuana is still a federally prohibited substance, after all, which makes businesses that handle the highly regulated plant outcasts when it comes to traditional banking methods. This aversion to risk, as defined by the banking sector, is actually a welcome opportunity for companies that cater to “high-risk” industries, such as the rapidly expanding and lucrative legal cannabis market. Among the top players enabling marginalized cannabis-related businesses and other high-risk industries to thrive are Global Payout, Inc. (OTC: GOHE) (GOHE profile), Medical Cannabis Payment Solutions (OTC: REFG), CannaRoyalty Corp. (OTCQX: CNNRF), SinglePoint, Inc. (OTCQB: SING), and MassRoots, Inc. (OTCQB: MSRT).

Billions Upon Billions

While the legal cannabis industry may just be getting started in the United States, it is expected to generate nearly $57 billion in worldwide sales by 2027, according to a Forbes article quoting Arcview Market Research (http://cnw.fm/C7wd8). The adult use market for recreational cannabis will get the lion’s share of that spending — 67 percent — while medicinal cannabis gets the remaining 33 percent. And that’s just the beginning, according to Arcview’s analysis, with the largest group of those cannabis spenders coming from North America. These folks are expected to shell out $9.2 billion in 2017 and more than $47 billion a decade later. That, as Carl Sagan would say, is “billions upon billions” of big bucks.

Is Cash Really King?

Lack of access to traditional banking services means legal cannabis businesses and their customers are usually dealing solely in cash. Some cannabis dispensaries can conceivably do $1 million a month in business, attorney James Smith says (http://cnw.fm/XWWx4).

“You don’t want that to be cash,” said Smith, a founding partner at Smith, Costello and Crawford, a firm which represents cannabis companies. “The state doesn’t want it, the industry doesn’t want it, even the federal government doesn’t want it.”

Keeping large amounts of cash onsite raises the risk of theft or embezzlement and increases the cost of security measures. MoneyTrac Technology, Inc. (“MTRAC”), a partner of Global Payout, Inc. (GOHE), is taking aim at solving this industry-wide concern with a full-service banking solution powered by GreenBox blockchain technology. MTRAC’s payment solution offers cashless methods to process payments for consumers and gives business owners the ability to remit payments to vendors, employees and other business affiliates.

Key to Cashless™

Unbanked cash presents a host of problems for business owners and the states in which they are licensed to do business. Even Canada, which is poised to legalize recreational cannabis for adult use by the end of the summer, is struggling with the issue since many of its largest banks steer clear of the cannabis industry. That may change in Canada once full legalization takes place, according to an article in Marijuana Business Daily (http://cnw.fm/wQi0V).

But why wait for traditional financial institutions to solve a problem when several companies have been working hard to provide a solution? Global Payout’s MoneyTrac Technology specifically offers alternative fintech banking solutions to these high-risk industries in the United States, Canada and Mexico.

“The goal of MTRAC from the beginning has been to leverage the different technologies available to us to remove the use of cash as the primary form of payment throughout the cannabis industry,” said MTRAC CEO Vanessa Luna in a news release (http://cnw.fm/xX6yC). “While other companies have struggled to find supportive financial solutions, MTRAC opted to take a different approach, and one that has relied heavily on the use of blockchain technology to address this problem for a massive and growing industry.”

Inside the Box

MTRAC’s revolutionary payment process for businesses operating across a wide array of alternative high-cost and high-risk industries utilizes closed-loop blockchain technology. Simply put, merchants and consumers are assured that currency moved into MTRAC’s system, either in the form of cash or through a debit/credit card via MTRAC Kiosk or a customer/merchant e-wallet, is converted to a digital representation of the currency’s value using secure, encrypted digital keys.

The MTRAC Kiosk, powered by the forward-thinking blockchain technology solutions offered by GreenBox, can be placed in any business that wishes to go cashless, making it simple and easy for merchants and customers alike to complete financial transactions. The concept is already generating buzz as MTRAC and GreenBox share their innovative payment solution with industry leaders in fields such as energy, water-tech, IoT, mobile and electronic payments, and security technologies (http://cnw.fm/z5UcA).

Looking Back

Several years ago, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter aimed at encouraging depository institutions to serve their communities by taking a risk-based approach when considering customer relationships instead of declining to provide banking services to an entire category of customers. That was in 2015, and, to date, little has changed when it comes to whether banks and credit unions are interested in welcoming the cannabis industry with open arms. Out of more than 16,000 FDIC and NCUA depository institutions registered in the United States, a 2017 federal report on marijuana banking noted only 400 of the institutions currently work with marijuana-related businesses (http://cnw.fm/s3TXu).

Catering to these “unbankable” businesses is exactly what Global Payout planned to do in 2015 when MoneyTrac Technology Inc. was brought under the company’s banner. The goal, then and now, is to focus on the development of financial technologies that specifically address many of the challenges that enterprises in a variety of alternative and high-risk market sectors face in processing financial transactions. MTRAC may be one of the most configurable and intuitive financial technology platforms available to alternative and high-risk enterprises, providing solutions that effectively manage everything from pin debit and virtual currency to compliance and cash flow logistics.

Playing a Pivotal Role

MTRAC’s commitment to working with the burgeoning cannabis industry is illustrated by the company’s recent announcement that it has joined the National Cannabis Industry Association at its highest membership level. The NCIA connects organizations, builds networks and serves as an advocate for the cannabis industry nationwide. Advocacy is encouraged as the cannabis industry continues its push for legitimacy and legalization, the NCIA states on its website (https://thecannabisindustry.org/).

“NCIA truly represents one of the most important and valuable associations in our industry,” Luna said in a new release published on CannabisNewsWire (http://cnw.fm/bCD0N). “Their hard work and advocacy over the past 17 years has played a pivotal role in helping to pave the way for the growth and continued legitimacy of this industry as well as in being a crucial resource to the thousands of businesses, such as MoneyTrac, who are committed to conducting business the right way, in an industry that remains highly scrutinized.”

The Home Stretch

Canada’s push to legalize recreational cannabis for adult use is being carefully watched on many fronts. Canadian lawmakers are still in the process of fine-tuning and adjusting the legislation that many expect to be in full force by September. Canadians are being assured that the government is planning “orderly implementation nationwide” with an overriding policy goal of keeping cannabis out of the hands of children (http://cnw.fm/0jyV7).

Even if select Canadian banks decide to finance cannabis operations or purchases, many are concerned about jeopardizing their operations based in the United States, where cannabis remains illegal at the federal level (http://cnw.fm/4PkeV).

Opportunity Beckons

The launch of MTRAC’s full-service banking solution, powered by GreenBox blockchain technology, offers the cannabis industry and other high-risk sectors cashless payment options they desperately need, Luna said (http://cnw.fm/3neCm).

Joining the effort to provide cannabis dispensaries and related businesses with payment solutions is Medical Cannabis Payment Solutions (OTC: REFG). After working with targeted participants in the state-sanctioned cannabis industry, Medical Cannabis Payment Solutions has rolled out its payment system to serve the global medical cannabis and banking industry.

“This fully concludes our transition from development stage and government relations to revenue stage,” said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions. “We’re excited to bring our services to the industry and to bring increased value to our shareholders.”

Medical Cannabis Payment Solutions was developed to solve a major problem in state-sanctioned marijuana: banking and cashless payments. The company’s cutting-edge payment solution allows consumers to buy items using U.S. currency and will soon allow Bitcoin, Roberts said in a news release (http://cnw.fm/lh4xO).

Building and supporting a diverse portfolio of businesses ready to grow in high-value areas of the cannabis sector is the aim of Ontario-based CannaRoyalty Corp. (OTCQX: CNNRF). These areas include research and brand development, devices and intellectual property. In 2017, CannaRoyalty co-launched Trichome Yield Corp. (“Trichome”) to be a preferred asset-backed lending partner to emerging and established Canadian and global cannabis companies.

CannaRoyalty also recently announced its acquisition of three California cannabis-related businesses: RVR, a large-scale distributor of both medical and recreational cannabis brands; Alta Supply, a smaller distributor of medical marijuana; and Kaya Management, a maker of edibles and vaporizers (http://cnw.fm/rU7cL).

Providing full-service mobile technology solutions keeps SinglePoint, Inc. (SING) in the spotlight as the company capitalizes on two high-performing market sectors: legal cannabis and cryptocurrencies. In a March 7, 2018, shareholder update, SinglePoint announced the soft launch of its SingleSeed Bitcoin payments solution. SingleSeed stands to address the lack of viable payment options for the cannabis industry by providing a user-friendly, easy-to-track transactional platform that enables merchants to accept non-cash payments (http://cnw.fm/dht1X). SinglePoint also recently announced the official launch of SingleSeed’s newly updated website, which is focused on selling cannabidiol (“CBD”) based products direct-to-consumer (http://cnw.fm/f9D4M).

MassRoots, Inc. (OTC: MSRT) has developed a technology platform for the cannabis industry and its users. The company’s technology platform enables cannabis consumers to join a social network, which is accessible through several portals and mobile apps. Cannabis enthusiasts can post reviews, follow their favorite dispensaries and stay connected with the cannabis legalization movement (https://www.massroots.com/). MassRoots recently formed a subsidiary focused on utilizing blockchain in the cannabis industry, which pairs well with the company’s marketing strategy of building technology platforms for the regulated cannabis industry. The company’s mobile apps have more than 1 million registered users.

Economic Impact

The ongoing regulatory uncertainty that surrounds legalized cannabis in the Unites States. can be a divisive conversation among lawmakers, the cannabis industry and members of the public. It is a topic not likely to go away as more states consider measures to legalize cannabis in some form or another. One thing all parties can agree on, however, is businesses that work mainly in cash invite a myriad of problems. Reducing that risk by providing alternative cashless payment solutions offers safeguards traditional banking isn’t able or willing to give at this time.

For more information on Global Payout, Inc., please visit: Global Payout, Inc. (GOHE).

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

Opportunity Amid Cannabis Banking Hurdles

CannabisNewsWire Editorial Coverage: Investors seeking opportunities in the cannabis market may want to turn their attention toward companies offering solutions for a situation that could otherwise slow the industry’s growth. A number of emerging firms are providing or pursuing payment options that can help cannabis companies sidestep the roadblock created by the lack of access to traditional banking services. Among the companies honing financing, payment processing and other business development services for the cannabis industry are Global Payout, Inc (OTC: GOHE) (GOHE Profile), MassRoots Retail (OTC: MSRT), iAnthus Capital Holdings, Inc. (CSE: IAN) (OTC: ITHUF), and Glance Technologies, Inc. (OTC: GLNNF) (GET: CNX). Meanwhile, recent action at Canopy Growth Corp. (CC: WEED) demonstrates that a change in bank industry policy could be on the horizon.

In Arizona, the state Department of Health Services reported that its dispensaries sold over 43 tons of medical marijuana through year-end 2017, an increase of 48 percent from 2016. Capitol Media Services estimates the quantity of medical marijuana sold in Arizona in 2017 represented approximately $275 million in retail sales for the year. Sales in the United States as a whole represent a multibillion dollar market that is only expected to grow as the legalization process continues to spread. In Canada alone, taking into account the planned July 2018 legalization of recreational cannabis, sales of the product are expected to reach C$6 billion by 2021.

Despite the massive sales figures, cannabis companies largely conduct business in cash. With marijuana classified as a Schedule 1 drug at the federal level in the United States, the cannabis industry is essentially unbankable there, creating an opportunity for companies that can help industry participants process the payments generated by cannabis sales.

The Struggle to Organize Necessary Elements of Infrastructure

For the time being, cannabis businesses continue to struggle with financing issues related to customer receipts and budget expenditures, especially in the United States. While U.S. banks have overwhelmingly refrained from doing business with cannabis companies due to the federal prohibition on sales of the product, in Canada some banks have begun to offer business accounts to cannabis companies. Even when Canada does begin legalization in mid-2018, however, there’s no guarantee its banks will be quick to finance cannabis companies. The year is expected to be a landmark period for cannabis-related businesses, yet there’s still a fair amount of uncertainty about how they will fare. Global Payout, Inc. (OTC: GOHE) is one company positioned to help alleviate that uncertainty through a number of payment processing services.

Payment Solutions for the “Unbankable”

Global Payout’s fintech payment solutions can be fully customized for virtually any domestic and international organization distributing money worldwide. Through its MoneyTrac Technology (“MTRAC”) subsidiary, Global Payout is focused on helping reduce the extensive security, accounting and overhead costs dispensaries face from having to deal exclusively in cash. The reliance on cash transactions by cannabis businesses leaves these companies vulnerable to theft and facing all the inconvenience associated with running a cash-only business. And the problem is only expected to grow more acute as the rapidly growing multibillion-dollar industry continues to expand, with cannabis now recreationally available in eight states.

Addressing this opportunity in the company’s letter to shareholders, Global Payout CEO James Hancock stated: “Recognizing the gap between adequate financial technology solutions and the rapidly expanding, multi-billion-dollar cannabis industry, a collective decision was made in March to spinout our majority owned subsidiary, MoneyTrac Technology to begin serving the underserved businesses of the cannabis industry. … These partnerships, combined with several other important developments throughout the year, have effectively positioned MoneyTrac to generate revenue and become a recognized leader of a variety of service and solution offerings within the cannabis industry.”

MTRAC plans to launch its regulatory compliant token offering in the first quarter of 2018 as part of an effective, decentralized system for processing payments (http://cnw.fm/eoPQ3). The M-Token from MTRAC will allow vulnerable businesses to migrate from a cash-only business model by offering the basic yet essential services denied to them by the traditional banking industry. In the process, the businesses can improve their security and boost their operational efficiency.

Vanessa Luna, CEO of MTRAC, stated, “MoneyTrac’s primary objective has been, and will continue to be, to serve the legitimate and profitable businesses of the cannabis industry by effectively addressing the financial technology and banking challenges they are faced with. … Our regulatory compliant Token Offering will revolutionize how these businesses operate and help MTRAC further its objectives for identifying various partnerships and cultivating the relationships necessary to pave the way for alternative banking solutions.”

Cannabis Compliance

To help it develop a strong foundation for the delivery of banking solutions to the legal cannabis industry, MTRAC recently signed a joint-venture agreement with Integrated Compliance Solutions, LLC (“ICS”), a leading provider of financial regulatory compliance services and solutions to the retail cannabis industry. The partnership bolsters MTRAC’s ability to provide compliant banking solutions with its strategic partners.

In the press release announcing the agreement, Luna emphasized the importance in maintaining compliance in the heavily regulated retail cannabis industry.

“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 (that) 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,” she stated (http://cnw.fm/xiq7H).

Exploring Expanded Marketing Opportunities

Global Payout also recently signed a Sales Partnership Agreement with Eyeconic.tv in a move to explore the potential of creating new revenue streams (http://cnw.fm/vnXs7) while boosting the impact of both parties.

The companies plan to leverage the network of dispensaries and industry-specific brands and products established through MTRAC’s PotSaver publication in conjunction with Eyeconic.tv’s digital media platform. Eyeconic.tv is an innovative producer and distributor of interactive digital mediums focused mainly on digital menus, advertising and kiosks to customers on their business premises. PotSaver is a revenue-producing community periodical and online advertising platform that provides listings for discounted cannabis-related products to local dispensaries and shops.

“Establishing this sales partnership with Eyeconic.tv is an incredibly effective way to deliver more value to the solutions and services we are providing to cannabis-related businesses. The Eyeconic.tv team are true pioneers in the digital marketing and advertisement space and have established themselves as the premier provider of these services throughout the cannabis industry. I am pleased they recognize the value we can bring to their brand through the network of dispensaries we have created through our PotSaver publication, as well as through the invaluable expertise our team offers in developing and implementing successful sales and marketing strategies. I am extremely confident that this will be a partnership that is mutually beneficial to the objectives of each of our companies,” Luna said.

Additional Cannabis Payment Solution-Related Opportunities

In a sign that Canadian banks are beginning to change their position about financing cannabis firms, Canopy Growth Corp (CC: WEED), a diversified Canadian cannabis company that offers curated cannabis in dried, oil and capsule form, has recently announced a $175 million bought stock offering led by two major Canadian investment banks — Bank of Montreal, through its BMO Capital Markets division, and GMP Securities. Canopy Growth operates on four continents where it sells cannabis products, conducts R&D, and provides cannabis-related education for healthcare practitioners.

While Canadian banks may be beginning to change their stance on financing cannabis firms, it should be noted there are no signs of such a thaw to the south where banks continue to avoid doing business with cannabis firms because of federal regulations. Canopy Growth’s extensive operations outside of Canada mean that the firm can still benefit from payment solutions that enable it to reduce the amount of cash transactions it conducts.

MassRoots (OTC: MSRT) offers one of the most popular technology platforms for the regulated cannabis industry. The company’s mobile apps, with more than a million users, enable consumers to draw on community-sourced reviews to make educated cannabis purchasing decisions. The company offers a compliance and point-of-sale system called MassRoots Retail, which helps cannabis businesses conduct retail operations more efficiently and manage compliance reporting as required by state regulators. MassRoots has recently formed a blockchain subsidiary focused on developing solutions for the cannabis industry based on the blockchain. The company believes that making use of the transparent digital ledger that constitutes the blockchain can help the cannabis industry operate with greater efficiency, accountability and transparency.

iAnthus Capital Holdings (CSE: IAN) (OTC: ITHUF) offers investors exposure to licensed cannabis cultivators, processors and dispensaries located across the United States. The company offers capital as well as hands-on operational and management expertise. With seven investments in six states covering an addressable market of approximately 50 million people, the company’s dispensaries stand to benefit from access to innovative payment processing and financial solutions that enable them to more efficiently handle transactions.

Glance Technologies, Inc. (OTC: GLNNF) (GET: CNX) owns Glance Pay, a mobile payment system transforming the way smartphone users interact with merchants and buy products. The company’s partially owned subsidiary, Cannapay Financial, is the vehicle for Glance Technologies’ entry into the cannabis industry through licensing agreements that leverage the Glance Pay App and the Glance Merchant App’s data analytics. Cannapay Financial has two apps in development — Cannapay, a mobile-to-mobile payment system for the marijuana industry, and SuperDope Delivery, a mobile ordering and delivery app for cannabis consumers.

The tremendous growth being experienced by the cannabis industry, coupled with the difficulty cannabis businesses are experiencing in accessing banking services, especially in the United States, have created significant opportunities for firms that can offer these businesses effective methods of processing transactions. Each of the companies listed above is positioned to benefit from this evolving trend, making them worthy of further investigation by investors looking to capitalize on the expansion of the cannabis industry and the corresponding development of payment solutions to facilitate that expansion.

For more information on Global Payout, visit Global Payout, Inc. (GOHE)

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.