San Diego, May 12, 2015 (GLOBE NEWSWIRE) -- -- Global Payout, Inc. (OTC Pink: GOHE), a leading provider of
international electronic payment solutions, announced today that
its flagship marijuana industry payment system product will include
patent pending PIVOT© technology. PIVOT© is
ideally suited for a closed loop cannabis card system because it is
adaptive and enables parameter programming capabilities that give
government agencies, dispensaries, tax collectors and most
participants in the marijuana supply chain the ability to comply
with and monitor the set rules of the system. As a result,
compliance to limit laws, tax collection rates and other rules can
be set and changed, and easily managed and monitored. A patent
application was recently filed with the Department of Commerce'
United States Patent and Trademark Office to protect the
PIVOT© technology. Deployments of the closed loop
marijuana payment system with PIVOT© technology for
field testing in various legalized marijuana markets are
anticipated soon.
Brett Morgan, the CEO of MoneyTrac® Technology,
Inc., a subsidiary of Global Payout, Inc., commented on current
strategic initiatives, "Twenty-three states and the District of
Columbia currently have laws legalizing marijuana in some form.
Four states have legalized marijuana for recreational use.
While we developed this system years ago, the time has
finally come for its deployment. In the process, we aim to
demonstrate the full scope of integrative benefits we provide, ease
of use for everyone involved and our ability to satisfy the
pertinent needs of state and local government and their
officials."
Global Payout's unique closed loop marijuana payment platform
was designed to also satisfy the concerns of law enforcement,
interstate commerce control, and compliance monitoring. The system
has the ability to reveal patterns of abuse, potential black market
sales, and to achieve full cooperation with government agencies and
officials while interfacing with most any point of sale (POS)
system or loyalty and rewards program that address consumers and
their needs.
"We are optimistic about our patent application. States
have different rules that legislators are passing into laws that
still need to be implemented," Mr. Morgan continued. "Our
PIVOT© platform is the only system that has the ability
to add and track the rules needed for state and taxation
controls. With PIVOT©, an agency can implement rules
that limit transactions based upon time, geography, quantity
rules and, when interfaced to the POS systems, can also regulate by
individualized product type. PIVOT© can also guarantee
that the out of state purchaser is limited to one card only. Since
this is the only closed loop system with all state compliance
issues addressable or resolved, we believe we will be able to
establish a market share lead before we have any major
competitors," he added.
CONTACT:
Global Payout, Inc.
Investor Relations
IR@GlobalPayout.com
1-800-594-4350
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About Global Payout, Inc.
Global Payout, Inc. (www.globalpayout.com) is a
leading FinTech provider of comprehensive, customized electronic
payment solutions for domestic, international and multinational
businesses, organizations and government agencies worldwide. Global
Payout implements payment solutions tailored to a client's specific
needs, which may include MoneyTrac®, the company's
Consolidated Payment Gateway (CPG), domestic and international
prepaid cards, chip and pin cards, custom and co-branded prepaid
cards, closed-loop marijuana payment systems, and merchant
processing services. The company targets an estimated $3 trillion
market including the estimated 60-70 million unbanked and
under-banked adults in the U.S. and the estimated 2.5 billion
unbanked and under-banked adults around the world.
Engage with us by following Global Payout on Twitter and connect with
us on LinkedIn.
Forward-Looking Statement: The statements in this press
release…are forward-looking statements. Such statements involve
risks and uncertainties, including, but not limited to, our ability
to complete post-closing conditions to the merger, and any other
difficulties related to risks and effects of legal and
administrative proceedings and governmental regulation, future
financial and operational results, competition, general economic
conditions, and the ability to manage and continue our growth.
Should one or more of these risks or uncertainties materialize,
or should underlying assumptions prove incorrect, actual outcomes
may vary materially from those indicated. Important factors that
could cause actual results to differ materially from the
forward-looking statements we make in this news release include
market conditions and those set forth in reports or documents we
file from time to time with the SEC. We undertake no obligation to
revise or update such statements to reflect current events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
