News

Rapidly Growing Cannabis Market Has Massive Impact On Multiple Industry Sectors

There are 11 different sectors currently directly associated with the cannabis industry

As the cannabis industry continues its rapid growth, its overall impact on other industry sectors is also dramatically increasing. There are 11 different sectors currently directly associated with the cannabis industry or play a supporting role, according to the Marijuana Index. While quite a few prominent companies focus on the cultivation, biotechnological product development and marketing of cannabis and hemp products, others engage in the support side of the industry. A great example is Global Payout, Inc. (OTC: GOHE) (GOHE Profile), which provides customized payment solutions to optimize global financial transactions. The company’s cannabis endeavors are undertaken by its MoneyTrac subsidiary, which offers solutions designed to overcome payment logistical problems and security threats in the cannabis industry. Among other cannabis-related activities, MoneyTrac is also collaborating with PotSaver brand, a supplier of medical cannabis listings. MoneyTrac’s solutions could prove beneficial for other companies establishing roots in the cannabis industry, including Medical Marijuana, Inc. (OTC: MJNA), mCig, Inc. (OTC: MCIG), Solis Tek, Inc.(OTC: SLTK), and Freedom Leaf, Inc. (OTC: FRLF).

With more companies expanding their reach into global markets, it is increasingly important to have access to payment solutions that suit the needs of customers anywhere in the world. The role of traditional banks is shrinking, driven by the demand for improved and innovative financial solutions. Global Payout, Inc. (OTC: GOHE) is focused on entrenching itself as a leader in financial technology (FINTECH) and providing customized payment solutions for any type of company that distributes money globally.

Global Payout’s web-based Global Reserve Platform is a configurable solution that can satisfy the front-to-back office processing requirements of domestic, foreign exchange and international payment service providers. It improves work flow, operational efficiencies and financial management for businesses operating worldwide, and can be customized for companies in a wide range of business sectors.

The breadth of Global Payout’s FINTECH solutions now ripples into the cannabis industry through the company’s MoneyTrac Technology, Inc. (“MTRAC”) subsidiary, introduced in 2015 to provide alternative and high-risk enterprises with solutions to manage everything from pin debit and virtual currency to compliance and cash flow logistics.

MTRAC provides a solution to overcome payment logistical problems and security threats that plague the cannabis industry. These problems have arisen because marijuana is still classified as an illegal substance at U.S. federal level although legal across most states, which means that cannabis suppliers do not have access to traditional banking options. In August 2017, the company announced that it will incorporate bitcoin as a payment method to overcome these problems for customers of retail and wholesale cannabis outlets.

Global Payout continues to increase MTRAC’s market reach, most recently announcing a collaboration with SinglePoint, Inc. (OTC: SING), a leading provider of full service mobile technology and mobile payment solutions to multiple industries, including the legal cannabis market, with the purpose of maximizing Global Payout’s existing suite of financial solutions (http://nnw.fm/Ytav8), including those offered by MTRAC. Through this joint venture, the company seeks to boost its existing payment and financial technology platforms.

“SinglePoint’s knowledge and expertise in mobile payments and other mobile technology offerings is something we believe could be a significant addition to the financial payment platforms we have developed, and are still developing, for our clients in the many different industries we serve. We are also eager to use this agreement as an opportunity to examine how a partnership with SinglePoint can be leveraged to enhance the payment and financial solutions offered by MoneyTrac Technology, our majority owned subsidiary is focused on offering in the rapidly expanding multibillion dollar cannabis industry,” Global Payout stated in the press release.

MTRAC is also collaborating with its PotSaver brand, a supplier of medical cannabis listings, to launch a publication for the cannabis industry called PotSaver Biz. The first Los Angeles release is scheduled for January 1, 2018, a timely endeavor as the State of California begins licensing recreational marijuana sales next month.

MoneyTrac completed the majority acquisition of PotSaver (http://nnw.fm/3I2dg) at the end of September this year in an agreement that provided the subsidiary with access to immediate revenue as well as PotSaver’s revenue-generating business model of providing community periodical listings on discounted cannabis products. The publication of PotSaver Biz constitutes another revenue stream for MoneyTrac and Global Payout, generated from the sales of paid listings to the countless businesses engaging in the cannabis industry.

Demonstrating the potential of cross-networking within the cannabis industry, MTRAC has also formed a referral partnership agreement with GreenRush Group, Inc. This agreement is expected to provide MTRAC with a direct source of revenue from the referral of cannabis-related businesses who secure a contract with greenRush for the use of its e-commerce payment platform, and Green Label Platform.

“The greenRush e-commerce platform is truly ahead of anything else in our industry today and is one of the most valuable resources available to dispensaries and other companies and brands who need an effective platform to market and sell their products for both B2C and B2B purposes. This agreement will give us an opportunity to contribute to the growth of greenRush through our referrals and will also play a vital role in the growth and success of our existing and future clients and partners as we work with them to leverage the resources available through the greenRush platform,” MTRAC COO Vanessa Luna stated in the press release (http://nnw.fm/7uW3w).

An established company engaged in the research and development of cannabinoid-based products, operating in the medical marijuana and industrial hemp markets, Medical Marijuana (OTC: MJNA) was the first-ever publicly traded cannabis company in the United States. Its products are developed for the pharmaceutical, nutraceuticals and cosmeceutical industries using patented and proprietary based processes. The company also markets and distributes a range of hemp oil-based products, as well as chewing gum-based cannabinoid infused products for pain relief and other medical disorders. Medical Marijuana recently announced that its HempMeds® Mexico subsidiary generated the largest sales in a single month in November 2017. During the same month, HempMeds® Mexico’s president was invited to address the United Nations and World Health Organization, where he urged both international bodies to recognize the benefits of cannabidiol (CBD) as a nutritional supplement.

mCig (OTCQB: MCIG) is a multidimensional company that operates through five divisions, comprising construction and consulting, CBD, vaporizers, media and supplies. Its construction operation designs, engineers and builds greenhouses for growers in the cannabis and hemp markets. The company also offers a consulting service to cultivators in the cannabis industry. mCig’s cannabidiol division markets hemp-based CBD products, including a private label VitaCBD, while it devotes another division to the sale of e-cigarettes and vaporizers. The company operates a social platform, called 420cloud, to advertise cannabis products and runs another division that supplies legal cannabis. On December 4, 2017, mCig announced that its wholly owned subsidiary focused in hemp cultivation, product research and production, NYAcres, Inc., forecasts total revenue of $10 million in its first year of operation.

Climate control within greenhouses and indoor cultivation facilities is critical for producing cannabis and hemp crops of consistent quality. Solis Tek (OTCQB: SLTK) designs, develops and manufactures indoor lighting and ancillary equipment for horticultural facilities in the USA and globally. It produces innovative LED lighting products that emit less heat than traditional lighting systems, backed up by the use of digital ballasts to enable more accurate control of lighting within a greenhouse. The company also supplies mercury vapor and high-pressure sodium lamps, reflectors and a range of fertilizers and plant nutrients.

Headquartered in Las Vegas, NevadaFreedom Leaf (OTCQB: FRLF) publishes news for the cannabis, medical marijuana and industrial hemp industry. Its flagship publication is Freedom Leaf Magazine, The Good News in Marijuana Reform, which reports on movements in the cannabis industry as well as lifestyle, arts and fashion. In addition, the company provides a creative marketing and talent agency service for creation and launch of business development and private label products. Freedom Leaf also sells cannabis and hemp oil-based products and is actively involved in mergers and acquisitions in the cannabis industry. On December 5, 2017, the company announced that its subsidiary, Leafceuticals, Inc., had concluded an agreement to purchase hemp from producer Harris Farms, Ltd., Pahrump, Nevada, for the supercritical CO2 extraction of hemp oil in its facility under State of Nevada license NV SB396.

If the fast-developing cannabis market is to sustain its growth, it needs the support of enterprises that can bring advanced technology beyond cultivation and product development to the table. These companies demonstrate that there is room for a diverse range of businesses to add value to this industry and create a climate for them all to thrive.

For more information on Global Payout, please visit: Global Payout, Inc. (OTC: GOHE)

 

SOURCE CannabisNewsWire

Stay up-to-date!

Get all the news and info straight into your inbox that you need to help grow your business.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

To Top