SAN DIEGO, Feb. 15, 2018 (GLOBE NEWSWIRE) — Global Payout, Inc. (OTCPink:GOHE) (“Global”) is pleased to announce that its majority owned subsidiary, MoneyTrac Technology, Inc. (“MTRAC”, the “Company”) has finalized a JV Agreement with Equity and Exclusivity in Sales and Marketing with GreenBox POS, LLC (“GBOX”). This agreement provides for an exclusive partnership whereby MTRAC will serve as a strategic sales and marketing resource to GBOX. In exchange, MTRAC will be given marketing rights in the US, Canada and Mexico, which the Company contends could provide for significant revenue in year one. MTRAC plans to launch GBOX services in April 2018.
GBOX is a technology company that builds customized payment solutions to different industries. Based in California with offices in Seattle, Vancouver, BC and San Diego, the company develops individual disruptive applications integrated in an end-to-end suite of financial products that can benefit almost any industry. GBOX develops all software both inhouse and with international subsidiaries, and has been awarded 5 provisional patents for its technology. GBOX, in collaboration with various partners, also develops the required electronic modifications necessary to create POS (Point of Sale) systems for first time merchants or to upgrade existing solutions, and also offers custom built blockchain KIOSK machines.
GBOX’s POS software includes a great deal of operational features: compliance, financial audit prep, expense tracking, tax payments, register specific features, and data fidelity (backup/restore, cloud security, privacy, etc.) controls.
Delivery infrastructure software controls all delivery aspects (dispatch, driver and consumer modes), including communication with the POS for inventory management, location control, delivery confirmation, and with PAY (payment infrastructure for payment, E-Wallet management and cashless operations). The PAY software controls all payment and blockchain communications, including digital escrow and asset monetization. GBOX’s KIOSK software/hardware solution handles all cash issues for cashless operations, performs direct and immediate deposits from cash to blockchain and confirms bank account availability within seconds.
The GreenBox POS Management Team consists of Mr. Fredi Nisan, CEO, who comes from the POS and merchant services business and has recently completed a successful exit in the POS and ERP business, which he founded and managed through the exit. Ben Errez, EVP, comes from the investment, consulting and big software and hardware industries, with previous executive roles at Microsoft (including engineering management of Microsoft Office for complex scripts), IBM (with which he had an exit), and Intel. Ben also consulted the world’s biggest private economy, World Trade Center, on payment systems, security, reliability and privacy of software and hardware development. When asked about this partnership, Mr. Nisan said, “We are confident in the MTRAC team’s capability to successfully bring our software and technology out of beta and into the market. MTRAC’s executive team has an impressive track record and we believe they are innovators and will disrupt every status quo with our new technology. Together, we created an impressive launch platform and look forward to introducing it to the world.”
Said MTRAC CEO, Vanessa Luna: “The details, intricacies, and overall effectiveness of the technology that GreenBox POS has developed is unrivaled by anything else we have seen thus far and is something we believe will disrupt the financial technology side of it. Not only are their technology solutions impressive, but they fall right in-line with MoneyTrac’s core objective and mission of “Banking the unbankable.” In becoming a lead sales and marketing partner for GreenBox, we are giving MoneyTrac another extremely effective resource, leveraged to deliver the solutions our customers and partners desperately need to help run their businesses with optimum efficiency.”
About Global Payout, Inc. (OTC Pink:GOHE)
Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions for domestic and international organizations distributing money worldwide. In 2014, Global introduced its first online payment platform called the Consolidated Payment Gateway (CPG), which allowed its enterprise clients to transfer money to international bank accounts, mobile accounts, and prepaid card accounts. The development of the CPG became the foundation for the introduction of its new, state of the art FINTECH payment system in 2017, for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs. Global will continue to offer their FINTECH payment system to many vertical markets for support of foreign currency exchange and digital currency, including ongoing support of the banking industry and international governments.
About MoneyTrac Technology
MoneyTrac Technology, Inc. (“MTRAC”) is a C-Corp founded in March 2015 in California and is a pioneer in developing full-service financial technology solutions for businesses and entities operating within a variety of rapidly growing market sectors in “high-risk” industries which require alternative banking and financial transaction services and solutions for general operational and compliance purposes. In 2016, MTRAC’s executive management team shifted the Company’s focus to the burgeoning multibillion-dollar cannabis industry, where a significant number of businesses are demonstrating a growing need for alternative banking and financial technology solutions to overcome the many limitations and challenges they are typically subjected to as a result of various Federal, State and Local regulations.
About GreenBox POS, LLC.
GreenBox POS, LLC (“GBOX”) brings innovative and unique solutions to the market. As a technology company that builds customized payment solutions to different industries, GBOX’s core focus is delivering and developing individual disruptive applications integrated in an end-to-end suite of financial products and supporting multiple industries. GBOX develops all software both inhouse and with international subsidiaries. GBOX also develops the required electronics modifications in partnership with different vendors to create Point of Sale machines as an upgrade offering from existing solutions, or for first time merchant scenarios, and custom built blockchain KIOSK machines. GBOX POS develops the following main products: POS (Point of Sale software and hardware solutions); DEL (delivery app, APIs to POS and PAY); PAY (payment app, providing financial APIs to all other components); KIOSK (deposit, cash and E-wallet management). All products are in beta stage, with V1 at the end of Q1/18. All custom hardware (including POS and KIOSK), are available to order now. The capitalized names (POS, DEL, PAY, and KIOSK) are internal product codes. All V1 products (software and hardware) are appropriately branded.
Forward-Looking Statements Disclaimer:
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 contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
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