New York, New York (NetworkNewsWire) – Busily upending
mainstream banking and lending, the FinTech market is
revolutionizing core components of the finance industry, and one of
the standout benefits of this FinTech revolution is that
entrepreneurs, small-business owners and high-risk enterprises have
unprecedented access to the investment capital and financial
services they need. Notable players in this disruptive, burgeoning
market include entities like Global Payout, Inc. (OTC:
GOHE) (GOHE
Profile), which, through its
MoneyTrac Technology, Inc. subsidiary, offers payment solutions to
high-risk industries such as cannabis. Global Payout is joined by
other companies disrupting the financial side of marijuana,
including MassRoots, Inc. (OTC: MSRT),
mCig, Inc. (OTC: MCIG) and Glance
Technologies, Inc. (OTC: GLNNF) (CSE: GET), as well as the
activities of companies like Mentor Capital, Inc. (OTC:
MNTR).
FinTech is a relatively young but burgeoning market, using
technology to disrupt traditional financial services rather than to
serve them. This disruptive presence is important for many reasons.
For one, it is breaking the chokehold of banks and other financial
institutions—which have traditionally eschewed making small loans
with low margins—giving entrepreneurs and small businesses access
to the capital they need to get their companies off the ground or
grow their existing enterprises. The FinTech uprising also provides
access to other lending options and streamlines the application
process in ways that traditional financial institutions cannot.
The key benefits of the FinTech industry are improved
accessibility to lending options and an accelerated application
process for businesses and individual consumers, and traditional
banks and other financial institutions are feeling the effects. A
recent executive summary on global FinTech released by PwC
indicates that 30 percent of consumers intend to increase their
usage of nontraditional financial services providers during 2017,
while only 39 percent planned to continue using traditional
financial services providers.1
In the business realm, the benefits of FinTech are being keenly
felt. In addition to gaining easier access to capital, companies
have been enabled, through the FinTech movement, to purchase
complicated financial software solutions and services they could
never have afforded in the past that would have once required an
entire in-house IT team to operate.
As a provider of next-gen B2B solutions for the automation of
international funds transfer, billing, payments and invoicing
processes, Global
Payout (GOHE) recognizes the potential of FinTech and
its increasing degrees of applicability.
In a recent corporate interview (http://nnw.fm/x9OSy), Global Payout CEO James Hancock
discussed assets of the company’s Global Reserve Platform (GRP),
including its provisions for blockchain technology within virtual
currency markets; its current ability to adopt 26 foreign
languages; its capability to perform currency exchanges across the
globe; and its KYC compliance for all account holders and
merchants.
While Global Payout is chiefly focused on logistics and
shipping, international travel companies, banks and
small-to-medium-sized businesses, the company is taking advantage
of increased consumer demand for FinTech and has positioned its
MoneyTrac subsidiary to provide a full-service solution for
alternative banking and electronic financial solutions for
companies in high-risk industries such as cannabis and
cryptocurrency.
"We also have negotiations with commercial banks, the cannabis
industry and cryptocurrency that we'll probably be talking more
about," Hancock stated in the aforementioned interview. "There's a
lot going on and we need to focus on the logistics side, but there
are other opportunities that we're excited about."
One of these opportunities blossomed into fruition earlier this
month when MoneyTrac signed a letter of intent (LOI) with BlazeNow,
Inc., an advertising and data collection platform that NY Daily
News once called the Yelp of the marijuana industry (http://nnw.fm/eurE5). The intention of the LOI is to
create a joint-venture partnership that enables MoneyTrac and
BlazeNow to merge their industry-specific resources to
substantially grow both brands as they serve the marijuana
industry.
MoneyTrac also recently partnered with H Smart Inc., a division
of Marijuana Company of America, that will enable MoneyTrac
Technology to indirectly enter the multibillion-dollar cannabidiol
(CBD) market (http://nnw.fm/2lvKq). H Smart, a developer and
distributor of advanced wellness and CBD products, will profit from
the use of technology offered through MoneyTrac to pay commissions
for its affiliates. It is anticipated that this agreement will
create significant revenue for MoneyTrac that will be realized
during the current fiscal quarter.
MoneyTrac's technology enables 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.
Because the broader marijuana industry is lacking in banking
options, the potential of MoneyTrac’s FinTech solutions are
underscored by other cannabis FinTech players, such as
MassRoots, Inc. (MSRT), which caters to more than
one million registered users through mobile applications that help
them make informed marijuana purchasing decisions. MassRoots is
empowering cannabis-related businesses through its MassRoots Retail
compliance and point-of-sale system to streamline their retail
operations and manage their compliance reporting to state
regulators. Boasting a significant market share of medical
marijuana patients within certain markets and having over 25,000
shareholders, MassRoots is uniquely positioned to serve the growing
cannabis market.
Originating as a vaporizer manufacturer, mCig. Inc.
(MCIG) has since evolved into a large-scale, full-service
cannabis cultivation construction company and, more recently, has
forayed into the technology space. In August, mCig announced the
expansion of its offerings to include merchant processing services
for cannabis businesses, which are currently sorely underserved in
this area as they do not presently have access to traditional
banking options because of federal restrictions. Through a
partnership with an experienced merchant provider and through the
creation of a new entity, mCig aims to offer a seamless,
comprehensive and secure payment solution for marijuana businesses
and dispensaries.
Another FinTech player now catering to the cannabis industry is
Glance Technologies, Inc. (GLNNF). The owner and
operator of Glance Pay, a streamlined payment system transforming
the way smartphone users make purchasing decisions and interact
with merchants, Glance Technologies has entered into significant
licensing agreements to access the cannabis industry through its
partially owned subsidiary Cannapay Financial. Cannapay Financial
combines traditional financial offerings with advanced technology
to offer digital and financial services to legal cannabis
businesses. Currently, Cannapay Financial has two apps in
development that leverage the company’s GlancePay mobile payment
system and are available for international licensing: Cannapay,
which is a mobile-to-mobile payment system for the marijuana
industry; and SuperDope Delivery, which is an app for mobile
ordering and cannabis delivery.
In August, Glance Technologies announced a strategy for the
development and acquisition of cannabis brands through Cannapay
Financial, to be distributed internationally through its mobile
payment apps. One component of the strategy is to seek successful
cannabis business participants to license the company’s technology
in other countries, and a second component is to use the company’s
apps to promote awareness of emerging marijuana brands in
jurisdictions where cannabis is legal or is in the process of being
legalized. Cannapay Financial also recently entered into an
agreement to acquire the rights to a package of holistic Ayurveda
formulas intended to treat various ailments and has agreed to
purchase all intellectual property relating to the creation,
production and manufacturing of these products. The company has
further purchased the rights to blend the product with cannabis to
create a new product line.
The great need of alternative forms of funding for cannabis
businesses is evidenced in the activities of companies like
Mentor Capital, Inc. (MNTR), which specializes in
assisting marijuana companies in meeting their liquidity and
financial objectives and in helping to incubate private cannabis
companies. Mentor Capital provides a low-cost option for leading
marijuana companies that are attempting to enter the public market
and also offers liquidity and support to help ensure those entities
are prepared to make the transition.
The future of the FinTech industry seems to be a very bright one
indeed, and many new technologies and startups are anticipated to
reach maturity by the year 2020. Within this disruptive market, the
named players are ones to watch as they change the financial
landscape of the marijuana industry.
Editorial Sources:
1) PwC.com: http://nnw.fm/XR7Fn
2) Office of the Comptroller of the Currency: http://nnw.fm/nrsM0
3) Zacks: http://nnw.fm/eQJu7
For more information on Global Payout,
Inc., please visit Global Payout
(GOHE)
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides
(1) access to our news aggregation and syndication servers, (2)
NetworkNewsBreaks that summarize corporate news and
information, (3) enhanced press release services, (4) social media
distribution and optimization services, and (5) a full array of
corporate communication solutions. As a multifaceted financial news
and content distribution company with an extensive team of
contributing journalists and writers, NNW is uniquely positioned to
best serve private and public companies that desire to reach a wide
audience of investors, consumers, journalists and the general
public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting
through the overload of information in today’s market, NNW brings
its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the
NetworkNewsWire website applicable to all content provided by NNW,
wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article
and content set forth above. References to any issuer other than
the profiled issuer are intended solely to identify industry
participants and do not constitute an endorsement of any issuer and
do not constitute a comparison to the profiled issuer. The
commentary, views and opinions expressed in this release by NNW are
solely those of NNW. Readers of this Article and content agree that
they cannot and will not seek to hold liable NNW for any investment
decisions by their readers or subscribers. NNW are a news
dissemination and financial marketing solutions provider and are
NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy
any security.
The Article and content related to the profiled company
represent the personal and subjective views of the Author, and are
subject to change at any time without notice. The information
provided in the Article and the content has been obtained from
sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all
such information. None of the Author, NNW, or any of their
respective affiliates, guarantee the accuracy or completeness of
any such information. This Article and content are not, and should
not be regarded as investment advice or as a recommendation
regarding any particular security or course of action; readers are
strongly urged to speak with their own investment advisor and
review all of the profiled issuer’s filings made with the
Securities and Exchange Commission before making any investment
decisions and should understand the risks associated with an
investment in the profiled issuer’s securities, including, but not
limited to, the complete loss of your investment.
NNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. “Forward-looking statements” describe future expectations,
plans, results, or strategies and are generally preceded by words
such as “may”, “future”, “plan” or “planned”, “will” or “should”,
“expected,” “anticipates”, “draft”, “eventually” or “projected”.
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company’s annual report on Form 10-K or 10-KSB and
other filings made by such company with the Securities and Exchange
Commission. You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this
release are made as of the date hereof and NNW undertake no
obligation to update such statements.
Source:
NetworkNewsWire
Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
GameOn Entertainment Tec... (CSE:GET)
Historical Stock Chart
From Oct 2024 to Nov 2024
GameOn Entertainment Tec... (CSE:GET)
Historical Stock Chart
From Nov 2023 to Nov 2024