New York, New York (NetworkNewsWire) – The marijuana industry
grew at a 30 percent annual rate from 2015-2016, with Arcview
Market Research predicting a 25 percent compound annual growth rate
through 2021. As large as it is diverse, the industry now serves 29
U.S. states and the District of Columbia, where marijuana has
become legal for medicinal and/or recreational use. Demand, supply,
and product diversity are fueling the growth. However, federal
banking regulations restrict financial activity related to
marijuana-based businesses. Global Payout (GOHE) (GOHE
Profile) has unveiled a way around the cannabis
industry’s unbankability, as its MoneyTrac subsidiary offers an
alternative fintech solution that allows the cannabis industry to
access traditional banking services. SinglePoint,
Inc. (SING) has implemented a similar strategy, while
alternative payment solutions are poised to benefit organizations
such as American Cannabis Company (AMMJ),
Marijuana
Company of America Inc. (MCOA), and Easton
Pharmaceuticals (EAPH), which are contributing to the
industry’s growth and diversity.
Businesses selling cannabis face money laundering and other
penalties under federal law, given marijuana’s classification under
the Controlled Substances Act as a Schedule 1 drug. The solution:
alternative banking and electronic financial
systems.
While Global Payout
(GOHE) (founded as a prepaid card company in 2009)
displays its financial technology prowess via its Global Reserve
Platform, introduced in 2016 (http://nnw.fm/tKnY1), its MoneyTrac Technology
subsidiary offers a full range of financial services to companies
in high-risk markets. Mobile apps, an e-Wallet, and bill payment
are part of its Payment Solution Platform, branded as Virtu Network
Solutions. Relationships with affiliated partners support
compliance and cash flow logistics.
MoneyTrac even enables clients to brand their payment platform,
thanks to a white-label payment software solution. However, it is
not limited to secure financial services. The subsidiary also
offers business consulting, branding, marketing, and website
design, mobile site development, and e-Commerce services. Its
recent incorporation of bitcoin technology also affords a secure
payment option for retail and wholesale customers. It avoids the
challenges of all-cash transactions related to accounting, safety,
and storage and fulfills a need by cannabis companies to
efficiently manage their finances and overall businesses.
MoneyTrac also has a contract with H Smart Inc., a division of
Marijuana Company of America, enabling the company 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. Global Payout expects this agreement will
create significant revenue for MoneyTrac in the current fiscal
quarter.
Further growing its roots in the cannabis industry, MoneyTrac
recently finalized a majority ownership acquisition of PotSaver, a
revenue-producing community periodical providing listings on
discounted cannabis-related products for Southern California
dispensaries and shops. The acquisition is expected to provide
MTRAC with an immediate revenue stream related to PotSaver’s
existing subscription-based earnings.
“The majority ownership acquisition of PotSaver marks a
significant milestone for MoneyTrac Technology,” MoneyTrac COO
stated in the news release. “Not only does it provide our company
with an immediate source of revenue, but it provides us with a
unique opportunity to take a proven revenue-generating business
model and expand it through the infusion of the many different
tools and resources we have available through our networking,
software and business development capabilities.”
MoneyTrac has also completed a joint-venture agreement with
BlazeNow Inc., a majority owned subsidiary of MediaTechnics
Corporation (OTC: MEDT). BlazeNow, once called the “Yelp” of the
cannabis industry by NY Daily News, is an advertising and data
collection platform focused on connecting cannabis-related
businesses with patients and customers. MoneyTrac plans to use this
partnership to pursue joint-revenue products and services, pooling
each of the companies’ resources to grow both brands.
Another cannabis-focused payment solutions provider is
SinglePoint
(SING), which, in addition to its alternative banking
solutions, is building a solution to utilize cryptocurrencies and
blockchain technologies. Its SingleSeed Payments solution offers a
non-cash alternative to traditional banking with cashless ATM
terminals customers can use their debit or credit cards with
dispensaries and other retailers. Mobile phone payments are
supported as well, thanks to the Pay by Text™ service that
optimizes the point-of-sale experience. It is integrated with the
Text Message Marketing system, which lets clients communicate brand
announcements and coupon codes to consumers. SingleSeed offers
high-risk credit card processing as well, helping businesses and
dispensaries establish transparent merchant accounts.
Fintech has helped contribute to the success of the marijuana
industry, and the diversity of products and services.
American Cannabis Company (AMMJ) is one that has
prospered in the current market, helping clients with everything
from financial matters to state licensing applications, to facility
design and construction, equipment fulfillment, and
branding/marketing. The company also offers compliance auditing
services to manage activities such as licensing renewal, record
keeping, seed-to-sale inventory tracking, packaging and labeling,
waste disposal, and transportation procedures. It offers several
cultivation solutions including SoHum Living Soils™ that can yield
stronger and healthier plants. A range of extraction and infusion
systems, and equipment, are sold as well. From the commercial Pot
Washer to a child-resistance packaging, The Sachel™, to the
high-density Cultivation Cube™, there is no shortage of diversity
in this company’s product catalog.
Marijuana
Company of America (MCOA) is taking on the market in a
different way, building on a diverse portfolio of investments and
joint ventures. Established as a publicly traded company in 2015,
it offers marketing and distribution services to legal cannabis
firms. The organization is also involved in product research and
development, including recent hemp cultivation trials in New
Brunswick, Canada, as part of a joint venture with MCOA in
preparation for commercial cultivation. It’s wholly owned
subsidiary, hempSMART™, Inc. recently launched Full Spectrum Drops
as a cannabidiol product free of THC and offered in four flavors.
Also, the company operates the hempSMART website and e-commerce
network marketing platform. Growth is a major component of the
business plan, as the company has discussed establishing a presence
in various countries going into 2018 and beyond.
Operating in various pharmaceutical sectors, Easton
Pharmaceuticals (EAPH) is vested in the e-vaporizer liquid
market thanks to an acquisition of iBliss, Inc. The company also
recently closed an agreement with Alliance Group for 45 acres of
land to cultivate and produce medical and recreational marijuana.
It advanced $575,000 CDN towards this interest, for the
agricultural land located north of Toronto, Ontario, Canada. In
September 2017, it advanced another $1 million CDN to the firm, and
is in the process of attaining permission from national and local
governments to legally grow cannabis. Growth and diversity are
evident here, especially given Canada’s legalization of
recreational marijuana on a national scale.
As the cannabis industry grows, traditional banking options
remain off-limits. This has created many challenges for companies
looking to develop their brands and turn a profit. Bitcoin
technology and proprietary payment platforms such as MoneyTrac have
provided alternatives that avoid the potential legal challenges of
banking. Global Payout and SinglePoint have paved the way in this
area. The growth and diversity of the burgeoning legal global
cannabis industry is therefore not being deterred by such
challenges. American Cannabis Company; Marijuana Company of
America, Inc.; and Easton Pharmaceuticals are all examples of
companies growing through acquisitions, partnerships, and diverse
product and service offerings despite a lack of support from
traditional financial institutions.
For more information on Global Payout, Inc.,
please visit Global Payout
(GOHE)
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