MTrac Executes Exclusive Management & Development Agreement With Blockchain Based Point Of Sale Company, Cultivate
SAN DIEGO, Oct. 03, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Payout Inc. () (“Global”) and its wholly owned subsidiary MTrac Tech Corp. (“MTrac” or the “Company”) are pleased to announce the execution of an exclusive agreement with Cultivate Technologies, LLC, a blockchain based Point of Sale company. The deal allows MTrac to integrate Cultivate’s dynamic Point of Sale system into its existing blockchain powered payment processing platform. Delivering a fully enhanced and truly revolutionary system that aims to streamline payment processing for all Low & High-Risk-Merchants. Cultivate’s POS system is fully capable of seed to sale integration and offers instant settlement on fees in addition to enhanced compliance and reporting features, helping to make MTrac the premier provider of choice.
The move to integrate Cultivate’s POS technology represents a strategic shift from the original solution that mandated an in-store kiosk; now a smaller, more affordable solution has been added to MTrac’s suite of products. The system allows for the processing of transactions via traditional pin/debit and credit card processing hardware. After an extensive integration and beta testing period, the Company firmly believes that taking a methodical approach throughout the integration process has led to the development of a superior and efficient payment platform that clients can trust.
MTrac has commenced integration discussions with State mandated seed-to-sale systems to further it’s partnerships and legislative efforts within the cannabis and other high-risk industries.
“This was the final piece to the puzzle,” said Vanessa Luna, MTrac’s CEO. “In the last few months our sales and marketing team have worked diligently to successfully execute agreements and approve over 60% of the San Diego cannabis market who will implement this system over the next 30 days. This agreement with Cultivate brings the tech support, equipment, and ease of integration that will significantly enhance our ability to capture those coveted high-risk-merchant sectors we have been focused on for over a year now. The goal and objective of MTrac continues to be bringing on approved merchants through the seamless process our team has developed to fully support the rapid growth we anticipate here on a large scale, to transact and showcase the revenue potential of this company.”
MTrac anticipates to scale quickly beyond California to create a nation-wide footprint. The Team has already begun working with agent and ISO groups to facilitate the onboarding of hundreds of clients.
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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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website.
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