NEW YORK, Sept. 4, 2019 /PRNewswire/ -- Consumer trends are always changing and forcing many businesses to adapt accordingly. One of the biggest demands in the consumer industry is more efficient payment systems. With the emergence of online platforms, digital payment solutions have become a popular payment method. Consequently, most businesses involving customer interaction have implemented a digital payment system. And over the past several years, payment solution providers have improved their technology by providing faster transaction speeds and upgraded security. Generally, most large industries have already integrated a digital platform of some sort. However, there are many emerging industries that have not yet adopted digital payment solutions. Specifically, the cannabis industry was recently in dire need of technological advancements as legalization efforts continued to ramp up and more regions worldwide began to establish recreational or medical cannabis dispensaries. However, because cannabis is still listed as a controlled substance, many service providers have opted not to do business with the cannabis industry. As such, the lack of mutual relationships have hindered the cannabis industry's growth. However, as a result, many entrepreneurs have taken the initiative and launched operations in order to help accelerate the industry. Specifically, technology entrepreneurs have created platforms, such as seed-to-sale trackers or automated farming systems, to help maximize efficiency and maintain organization. And now, digital payment solutions are expected to be a major growth driver for the overall cannabis industry. According to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024. Global Payout, Inc. GOHE, MariMed Inc. MRMD, Emerald Health Therapeutics Inc. EMHTF EMH, Aleafia Health Inc. ALEAF ALEF, Tilt Holdings Inc. SVVTF TILT
Generally, most financial service providers tend to avoid dealing with cannabis businesses because of regulatory compliance matters. However, as legalization continues to suffuse throughout regions, financial institutions are beginning to launch operations within the cannabis marketplace. For instance, after the U.S. passed the Farm Bill in late 2018, which legalized hemp, many digital payment providers decided to offer their services to hemp-derived CBD retailers. Notably, businesses became able to manage their funds through an online portal instead of dealing with physical money, which was previously a major security concern. Prior, many cannabis-based operators had to hire a security service in order to transport and guard cash piles because banks refused to work with them. Now, as the cannabis market continues to evolve, financial service providers are beginning to tap into the cannabis market. And currently, the CBD marketspace is highly popular for most tech entrepreneurs. However, as the overall cannabis market continues to develop, service providers are expected to integrate into the broader industry as well. "Forward-thinking companies are stepping in to fill the gap created by outdated federal banking policies, and helping address the problems caused by a lack of financial services in the cannabis industry," said Morgan Fox, Media Relations Director for the National Cannabis Industry Association. "Lawmakers should take heed and open this space to all financial institutions."
Global Payout, Inc. GOHE just announced breaking news this morning that, "as the Company enters the last month of the third quarter of 2019 it has reached a point where it is effectively processing tens of millions of dollars in daily transaction volume across its growing base of clients in the multibillion-dollar cannabis industry.
As demonstrated in the Company's recent Q2 disclosure detailing Company financials, MTrac's growth trajectory has remained positive and has continued to gain significant traction throughout the year. This growth can be attributed to the successful strengthening of their foothold and market reach in what has become one of the most dynamic industries in today's economy. This feat has been accomplished in part through MTrac's success in securing several strategic service agreements with some of the largest companies in the industry today.
The company has recently signed a new account application with an anticipated 34 locations and has applications coming in weekly for the services offered through MTrac.
In addition to their expanding market reach, the Company is also fully engaged with key legislative partners in different states to help push for the adoption of their system as a means of providing merchants within these states with a viable and compliant payment processing alternative to cash as they remain focused on delivering "The Key to Cashless®" to as much of this diverse and expanding industry as possible.
About Global Payout, Inc. 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 Cashless®.""
MariMed Inc. MRMD, a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. MariMed Inc. recently received a special permit to allow its Panacea Wellness™ dispensary in Middleborough to merchandise cannabis products under the Massachusetts adult use program. It will now proceed at the Cannabis Control Commission (CCC) for adult use final approval. The dispensary has already received town approval for medical use. The state's Cannabis Control Commission is anticipated to give the go-ahead to open Panacea Wellness under the medical use program following the inspection of the dispensary earlier this week. "This special permit brings Panacea Wellness another important step closer to participating in Massachusetts's adult-use cannabis program," said MariMed Chief Operating Officer, Tim Shaw, "and keeps us on track to becoming the first company to provide top-quality cannabis medicines to the residents of Middleborough and the surrounding area.
Emerald Health Therapeutics Inc. EMHTF EMH is a Canadian licensed producer of cannabis products, with strategic initiatives focused on differentiated, value-added product development for medical and adult-use customers supported by novel intellectual property, large-scale cultivation, extraction, and softgel encapsulation, as well as unique marketing and distribution channels. Emerald Health Therapeutics, Inc. recently received its cultivation license from Health Canada for the 12-acre outdoor grow area at its new organic cannabis operation in Metro Vancouver, BC. The outdoor grow area is expected to be capable of producing approximately 10,000 kg of cannabis annually with multiple crops during a full growing season. With this license effective as of July 12th, 2019, Emerald is positioned to deliver one harvest and a portion of the expected full production volume this year. "As one of the few licensed producers licensed for outdoor growing, receiving this cultivation license highlights our planning and execution to achieve potentially very-low cost organic cannabis. We have been working for months on ground and seed preparation and are now preparing for planting," said Dr. Avtar Dhillon, Executive Chairman and President of Emerald. "With our team's extensive organic farming experience and expertise, we look forward to assessing multiple cannabis strains and refining cultivation practices for scalable outdoor growing."
Aleafia Health Inc. ALEAF ALEF is a leading, vertically integrated cannabis health and wellness company with four primary business units. Aleafia Health Inc. recently announced that its wholly owned subsidiary, Emblem Cannabis Corporation, had completed the largest adult-use cannabis order in the Company's history. The value of the Order is expected to generate proceeds from the sale of cannabis exceeding USD 1.0 Million, and has been shipped to a Canadian provincial government for distribution to online and retail consumers. The single Order features all of the Company's product formats and 17 individual product SKUs. Aleafia Health's average monthly gross revenue generated from the sale of cannabis now consistently and significantly exceeds equivalent revenues generated during Aleafia Health's entire 2018 annual reporting period. "Our largest cannabis sale to date again points to the consistent, upwards trajectory of Aleafia Health as we grow and refine our vertically integrated production supply chain across three facilities," said Aleafia Health Chief Executive Officer Geoffrey Benic.
Tilt Holdings Inc. SVVTF TILT serves cannabis brands worldwide through a strong network of portfolio companies committed to technological innovations that support long-term success. TILT Holdings Inc. recently announced the expansion of retail offerings for its wholly-owned subsidiary Jupiter Research, a designer, developer and manufacturer of vaporizing technologies for natural plant-derived oil. Jupiter will offer a complete starter kit in retail-ready packaging that includes black Liquid6 power supply and one empty black powder-coated collar 1.0 ML fill-your-own cartridge. This latest product offering was created to further Jupiter's goal of being an innovative leader in the global vaping market and provide the high-quality products to their brand partners. The vape market continues to be a fast growing segment in the cannabis industry. In 2019 and for the first time ever, California sold more concentrates than flower, and vapes were ranked the most popular method of ingesting concentrates. Vape sales grew 69 and 80 percent in California and Oregon, respectively, according to BDS Analytics data. "Consumer behavior trends are leaning towards vaping products as the preferred cannabis consumption method and Jupiter continues to lead the industry with its high-quality products, including the launch of this product," said Mark Scatterday, Interim Chief Executive Officer of TILT Holdings. "Jupiter's Liquid6 Complete Starter Kit is an all-in-one package solution. This latest technology is a direct reflection of our passion to design, develop and manufacture high-performance and state-of-the-art vaporization technologies designed for today's high viscosity extracts."
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For global payout inc. financial and corporate news dissemination, FinancialBuzz.com has been compensated four thousand dollars by global media partners inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.
For further information:
Media Contact:
info@financialbuzz.com
+1-877-601-1879
SOURCE FinancialBuzz.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Your update on what’s going on in the Fintech space. Keep up-to-date with news, valuations, mergers, funding, and events. Sign up today!