SOURCE: Global Payout, Inc.

Global Payout, Inc.

May 03, 2017 06:45 ET

Global Payout's Majority Owned Subsidiary MoneyTrac Technology, Inc. Announces a Signed Letter of Intent with Renowned Cannabis Marketplace Company, Green Rush Group, Inc.

SAN DIEGO, CA--(Marketwired - May 3, 2017) - Global Payout, Inc. (OTC PINK: GOHE) (the "Company") is pleased to announce that its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTT"), has signed a Letter of Intent (LOI) with Green Rush Group, Inc. ("greenRush") for the utilization of MTT's financial technology platform for electronic payment processing, and to aid in the development of a "virtual currency type network."

Dubbed as the "Amazon of Cannabis" by the SF Business Times, greenRush is a cannabis marketplace that seamlessly and effectively connects patients with local dispensaries across California, Nevada and Colorado. Through the greenRush platform, patients can search menus of cannabis products from local dispensaries and place orders from their mobile device or desktop for express pick-up or delivery right to their doorstep.

Jim Hancock, MTT CEO, says, "We are pleased that our system has met the high standards required by greenRush. This integration will provide greenRush with an advanced system to control the myriad of financial transactions occurring on a multi-state basis. This is a financial solution the Cannabis industry has been waiting for."

At the core of their business model is maximizing choice and convenience for its consumers while providing retailers with cutting-edge technology and enhancing consumer reach through their platform. And with the potential integration of MTT's financial technology platform, the Company believes greenRush can effectively enhance its platform for both consumers and retailers alike.

"In the development of the MTT financial technology platform, considerable thought and consideration went into developing a platform that companies in 'high-risk' industries, such as those within the cannabis-related industry, could utilize to overcome some of the many different challenges they are faced with from a payment processing perspective," said MTT COO, Vanessa Luna. "greenRush is currently at the forefront of revolutionizing the on-demand cannabis marketplace, and it is our belief that the payment processing and financial compliance technology that is available through the MTT platform could present them with an opportunity to streamline these processes and possibly create a more user-friendly platform for both consumers and retailers while simultaneously fortifying compliance procedures in an industry that is heavily regulated," Ms. Luna further remarked.

No assurances can be provided that an LOI will result in a definitive agreement between the companies. However, MTT's management team continues to actively pursue opportunities to introduce its financial technology platform to companies within the cannabis-related industry whom it believes can improve or enhance their payment processing and compliance procedures through the integration of their platform.

About Global Payout, Inc.

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 Green Rush Group

GreenRush is a technology and marketing platform that helps facilitate the delivery of cannabis products to patients. From access to new dispensaries, to a simple one-time verification process, GreenRush's proprietary technology offers unique solutions providing a superior patient experience. GreenRush is rapidly expanding to all states where medicinal cannabis is legal.

Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "will", "to", "plan", "expect", "believe", "anticipate", "intend", "could", "would", "estimate", or "continue", or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.


Global Payout, Inc.

MoneyTrac Technology, Inc.

Green Rush Group

Contact Information


    Public Relations and Media Contact:

    Headquarter Office