CannabisNewsWire
Editorial Coverage: As the cannabis industry continues its
rapid growth, its overall impact on other industry sectors is also
dramatically increasing. There are 11 different sectors currently
directly associated with the cannabis industry or play a supporting
role, according to the Marijuana Index. While quite a few prominent
companies focus on the cultivation, biotechnological product
development and marketing of cannabis and hemp products, others
engage in the support side of the industry. A great example is
Global Payout, Inc. (GOHE) (GOHE
Profile), which provides customized payment
solutions to optimize global financial transactions. The company’s
cannabis endeavors are undertaken by its MoneyTrac subsidiary,
which offers solutions designed to overcome payment logistical
problems and security threats in the cannabis industry. Among other
cannabis-related activities, MoneyTrac is also collaborating with
PotSaver brand, a supplier of medical cannabis listings.
MoneyTrac’s solutions could prove beneficial for other companies
establishing roots in the cannabis industry, including
Medical Marijuana, Inc. (MJNA), mCig, Inc.
(MCIG), Solis Tek, Inc. (SLTK), and
Freedom Leaf, Inc. (FRLF).
With more companies expanding their reach into global markets,
it is increasingly important to have access to payment solutions
that suit the needs of customers anywhere in the world. The role of
traditional banks is shrinking, driven by the demand for improved
and innovative financial solutions. Global Payout,
Inc. (GOHE) is focused on entrenching itself as a leader in
financial technology (FINTECH) and providing customized payment
solutions for any type of company that distributes money
globally.
Global Payout’s web-based Global Reserve Platform is a
configurable solution that can satisfy the front-to-back office
processing requirements of domestic, foreign exchange and
international payment service providers. It improves work flow,
operational efficiencies and financial management for businesses
operating worldwide, and can be customized for companies in a wide
range of business sectors.
The breadth of Global Payout’s FINTECH solutions now ripples
into the cannabis industry through the company’s MoneyTrac
Technology, Inc. (“MTRAC”) subsidiary, introduced in 2015 to
provide alternative and high-risk enterprises with solutions to
manage everything from pin debit and virtual currency to compliance
and cash flow logistics.
MTRAC provides a solution to overcome payment logistical
problems and security threats that plague the cannabis industry.
These problems have arisen because marijuana is still classified as
an illegal substance at U.S. federal level although legal across
most states, which means that cannabis suppliers do not have access
to traditional banking options. In August 2017, the company
announced that it will incorporate bitcoin as a payment method to
overcome these problems for customers of retail and wholesale
cannabis outlets.
Global Payout continues to increase MTRAC’s market reach, most
recently announcing a collaboration with SinglePoint,
Inc. (OTC: SING), a leading provider of full service mobile
technology and mobile payment solutions to multiple industries,
including the legal cannabis market, with the purpose of maximizing
Global Payout’s existing suite of financial solutions (http://nnw.fm/Ytav8), including those offered by
MTRAC. Through this joint venture, the company seeks to boost its
existing payment and financial technology platforms.
“SinglePoint’s knowledge and expertise in mobile payments and
other mobile technology offerings is something we believe could be
a significant addition to the financial payment platforms we have
developed, and are still developing, for our clients in the many
different industries we serve. We are also eager to use this
agreement as an opportunity to examine how a partnership with
SinglePoint can be leveraged to enhance the payment and financial
solutions offered by MoneyTrac Technology, our majority owned
subsidiary is focused on offering in the rapidly expanding
multibillion dollar cannabis industry,” Global Payout stated in the
press release.
MTRAC is also collaborating with its PotSaver brand, a supplier
of medical cannabis listings, to launch a publication for the
cannabis industry called PotSaver Biz. The first Los Angeles
release is scheduled for January 1, 2018, a timely endeavor as the
State of California begins licensing recreational marijuana sales
next month.
MoneyTrac completed the majority acquisition of PotSaver
(http://nnw.fm/3I2dg) at the end of September
this year in an agreement that provided the subsidiary with access
to immediate revenue as well as PotSaver’s revenue-generating
business model of providing community periodical listings on
discounted cannabis products. The publication of PotSaver Biz
constitutes another revenue stream for MoneyTrac and Global Payout,
generated from the sales of paid listings to the countless
businesses engaging in the cannabis industry.
Demonstrating the potential of cross-networking within the
cannabis industry, MTRAC has also formed a referral partnership
agreement with GreenRush Group, Inc. This agreement is expected to
provide MTRAC with a direct source of revenue from the referral of
cannabis-related businesses who secure a contract with greenRush
for the use of its e-commerce payment platform, and Green Label
Platform.
“The greenRush e-commerce platform is truly ahead of anything
else in our industry today and is one of the most valuable
resources available to dispensaries and other companies and brands
who need an effective platform to market and sell their products
for both B2C and B2B purposes. This agreement will give us an
opportunity to contribute to the growth of greenRush through our
referrals and will also play a vital role in the growth and success
of our existing and future clients and partners as we work with
them to leverage the resources available through the greenRush
platform,” MTRAC COO Vanessa Luna stated in the press release
(http://nnw.fm/7uW3w).
An established company engaged in the research and development
of cannabinoid-based products, operating in the medical marijuana
and industrial hemp markets, Medical Marijuana
(MJNA) was the first-ever publicly traded cannabis
company in the United States. Its products are developed for the
pharmaceutical, nutraceuticals and cosmeceutical industries using
patented and proprietary based processes. The company also markets
and distributes a range of hemp oil-based products, as well as
chewing gum-based cannabinoid infused products for pain relief and
other medical disorders. Medical Marijuana recently announced that
its HempMeds® Mexico subsidiary generated the largest sales in a
single month in November 2017. During the same month, HempMeds®
Mexico’s president was invited to address the United Nations and
World Health Organization, where he urged both international bodies
to recognize the benefits of cannabidiol (CBD) as a nutritional
supplement.
mCig (MCIG) is a
multidimensional company that operates through five divisions,
comprising construction and consulting, CBD, vaporizers, media and
supplies. Its construction operation designs, engineers and builds
greenhouses for growers in the cannabis and hemp markets. The
company also offers a consulting service to cultivators in the
cannabis industry. mCig’s cannabidiol division markets hemp-based
CBD products, including a private label VitaCBD, while it devotes
another division to the sale of e-cigarettes and vaporizers. The
company operates a social platform, called 420cloud, to advertise
cannabis products and runs another division that supplies legal
cannabis. On December 4, 2017, mCig announced that its wholly owned
subsidiary focused in hemp cultivation, product research and
production, NYAcres, Inc., forecasts total revenue of $10 million
in its first year of operation.
Climate control within greenhouses and indoor cultivation
facilities is critical for producing cannabis and hemp crops of
consistent quality. Solis Tek
(SLTK) designs, develops and manufactures indoor
lighting and ancillary equipment for horticultural facilities in
the USA and globally. It produces innovative LED lighting products
that emit less heat than traditional lighting systems, backed up by
the use of digital ballasts to enable more accurate control of
lighting within a greenhouse. The company also supplies mercury
vapor and high-pressure sodium lamps, reflectors and a range of
fertilizers and plant nutrients.
Headquartered in Las Vegas, Nevada, Freedom
Leaf (FRLF) publishes news for the
cannabis, medical marijuana and industrial hemp industry. Its
flagship publication is Freedom Leaf Magazine, The Good News in
Marijuana Reform, which reports on movements in the cannabis
industry as well as lifestyle, arts and fashion. In addition, the
company provides a creative marketing and talent agency service for
creation and launch of business development and private label
products. Freedom Leaf also sells cannabis and hemp oil-based
products and is actively involved in mergers and acquisitions in
the cannabis industry. On December 5, 2017, the company announced
that its subsidiary, Leafceuticals, Inc., had concluded an
agreement to purchase hemp from producer Harris Farms, Ltd.,
Pahrump, Nevada, for the supercritical CO2 extraction of hemp oil
in its facility under State of Nevada license NV SB396.
If the fast-developing cannabis market is to sustain its growth,
it needs the support of enterprises that can bring advanced
technology beyond cultivation and product development to the table.
These companies demonstrate that there is room for a diverse range
of businesses to add value to this industry and create a climate
for them all to thrive.
For more information on Global Payout, please
visit: Global Payout,
Inc. (GOHE)
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