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SAN DIEGO, Jan. 29, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Payout Inc. (USOTC: GOHE) (“Global” or the “Company”) and its wholly owned subsidiary MTrac Tech Corporation (“MTrac”) are pleased to provide a shareholder progress update on the roll out of MTrac, a secure blockchain-backed payments platform.
Since the launch in October the platform has seen month over month increases the number of transactions on the platform, net revenue, and even in the average ticket price. From the Company’s own research on customers using MTrac they have seen an average increase of 26% on ticket prices compared to before they were able to accept credit cards. Limiting customers to the use of cash is more than just a security issue, it severely limits customer access to funds and has proven ideal for customers who may have a limited amount of cash, which is partly the reason allowing credit and debit card transactions can actually increase sales across the board.
The proof is in MTrac’s customer feedback, which is routinely sought for strengthened relationships and system enhancements:
“We have been working with MTrac for several months. We have been able to compliantly accept all forms of card payments through MTrac and have found the platform to be stable, the fees reasonable, and their team accessible and responsive.” - Adam C., CEO and Owner of Jardín Premium Cannabis Dispensary (Las Vegas, NV) https://jardinlasvegas.com/
“We have seen the MTrac team’s attention to detail and their consistent pursuit of optimizing the MTrac payment platform. MTrac provides payments for both our retail and delivery businesses.” - Vera L., COO of Mankind Dispensary (San Diego, CA) https://mankindcannabis.com/
“MTrac is convenient for my customers to make payments and easily reconciles with our Point of Sale reports.” - Vartan K., GM of Cookies Melrose (Los Angeles, CA) https://www.cookiesmelrose.com/
“After implementing the MTrac payment system into our business, we have seen a significant increase in ticket price and have experienced firsthand MTrac’s attention to customer service.” – Scott M., CTO of The Healing Center San Diego (San Diego, CA) https://thcsd.com/
The Company expects to continue the trend of significant revenue increases over the coming months as more merchants adopt the platform and system updates are pushed to streamline processes. The Company boasts a 100% client retention rate and anticipates rolling out the platform in four new states, Minnesota, New Jersey, Florida, and Hawaii by the end of February.
“After working on the launch of this system for the last seven months we have become intimately familiar with the myriad of issues that plague the financial management of the cannabis industry,” Said Aaron Adler, MTrac CRO. “But the more confidence we build in the industry the more momentum we gain, and that is really the most important aspect of our current marketing strategy. The truth is our system is far more than just a payments platform, the back-end functionality offers the ability to track and trace each and every dollar that moves through their business, which helps to relieve their banking relationships by moving them away from large cash deposits. We recently launched an API to integrate Point of Sale systems and we are currently in talks with several of the largest POS systems in the Cannabis industry, the first of which could be live as early as the end of this week. We are gaining serious momentum, and the last several months is only a glimpse of what is possible in 2019.”
About Global Payout, Inc. (USOTC: GOHE)
Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions. 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 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.”
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 disclosed on the OTC Markets.com website.