Fintech Brings Financial Revolution for Entrepreneurs
NEW YORK, May 9, 2018 /PRNewswire/ --
NetworkNewsWire Editorial Coverage
Financial technology is currently making new era advances, providing innovative, accessible solutions for entrepreneurs and small businesses. As part of this movement, Global Payout, Inc. (OTC:GOHE) (GOHE profile) has created a flexible platform for dealing with finance across a business's infrastructure, as well as a specialist payment system for high-risk businesses. Glance Technologies, Inc. (OTC: GLNNF) has produced a mobile phone payment system that is secure, simple to use, and helps local businesses reach their customer base. MassRoots Retail (OTC: MSRT) uses technological solutions to help businesses develop links with consumers and is moving into financial technology through the development of a cryptocurrency. Support company mCig, Inc. (OTC: MCIG) has set up a cryptocurrency consulting division to help with the spread of this technology, as well as investing in state-of-the-art ATMs. Medical Cannabis Payment Solutions (OTC: REFG) has provided retailers with a secure payment processing system that helps to automate financial processes such as tax collection and sales tracking.
As financial technology leaps forward, small businesses are empowered by the products of these innovators.
Creating Greater Access to Finance
Access to finance is a vital part of any business - not only obtaining the money to fund an enterprise but also gaining access to the financial facilities needed to run a working business. The bigger finance-related companies have typically focused on providing both finance and financial services to other larger, traditional businesses. This is a logical move because the rewards are larger and the outcomes more certain. But this has meant that entrepreneurs, small-business owners and high-risk enterprises have sometimes been overlooked.
That trend is changing, however, thanks to the revolutionary changes currently taking place in financial technology. Developments such as blockchain are transforming core components of the finance industry, thereby providing unprecedented access to investment capital and financial services for previously overlooked groups. As the technology matures, these advancements are empowering marginalized enterprises across the world.
Offering Financial Innovation
For someone setting up a small business or an entrepreneur looking to work more efficiently, traditional financial systems can seem frustrating, inaccessible and inefficient. Fortunately, fintech companies such as Global Payout, Inc. (OTC: GOHE) are offering novel solutions.
Global Payout is a provider of financial technology, with a focus on payment solutions. Its aim is to make payment processing faster, smarter and more efficient. By creating better systems, Global Payout is also making efficient payment processing available to a wider range of businesses.
The company's main payment system is the Global Reserve Platform (GRP). This highly customizable system is designed to be adapted to the needs of individual businesses rather than providing a one-size-fits-all approach. At the same time, the system is easy to deploy and use, an important part of making fintech accessible.
A complete "banking in a box" system, GRP isn't just about payment processing. It can be used for online banking, P2P payments, loans, management, FOREX and almost any other transaction a business might need. By connecting these systems together, it improves efficiency and record keeping, making it easier to process and track financial interactions. By using a single adaptable tool, a business can avoid the inefficiencies that arise from jumping between systems and styles of working.
Global Payout's success comes in large part from paying attention to the wider market around it. CEO James Hancock noted that "with the FINTECH industry currently experiencing exponential growth, the Global Payout management team has devoted much of its recent time and efforts on meticulously observing current and projected trends within the industry to identify the key market sectors (http://nnw.fm/Bi2nC)." It is this attention to the market that has allowed the company to identify and target the most profitable areas.
Working with Small Businesses
One of the four sectors that Global Payout's team has specifically targeted is small and medium enterprises. Having seen the gap in support for such businesses, the company is seizing the opportunity to expand in that niche and, in the process, provide superior services to underserved customers.
For small companies, Global Payout is determined to ease the difficulties experienced in areas such as international payments and money transfer. These challenges can limit the expansion of a business, preventing it from achieving its potential. The solution is a single platform for financial services. Global Payout's cloud architecture provides a simple process for making and receiving international payments, while its customer interface can adopt local language modifications, making it accessible for clients around the world.
To be genuinely useful for small business clients, a financial platform has to be inexpensive, fully functional and usable on an array of mobile devices. This is an important part of what Global ayout provides - solutions that entrepreneurs the world over can both use and afford.
Looking to the Future
In addition to traditionally underserved areas of the economy, Global Payout has recently turned its attention to a new and growing market sector - high-risk businesses.
The growth of the legal cannabis market has created a whole new challenge for payment systems. Cannabis businesses often cannot access legal banking because of complications arising from the drug's legal standing. As a result, cannabis merchants have had to work on a cash basis, increasing the risks of fraud, theft and error. Their experience has highlighted the needs of the wider category of high-risk businesses that are looking for payment solutions to move them out of the cash-only economy.
To serve this community, Global Payout has turned to its partner MoneyTrac. MoneyTrac is applying blockchain technology, one of the most exciting new areas in programming, to create innovative payment solutions for high-risk businesses, many of which are also small businesses. Its recently launched MTRAC payment system (http://nnw.fm/c4eoX) allows cannabis merchants to accept payments electronically without having to rely on banks. New technology allows the system to sidestep the inefficiencies and restrictions of traditional banking, while still letting businesses see the money in their accounts at the end of the day.
MoneyTrac also supplies a wider network of support services to small businesses. By recognizing that businesses which need payment services may also need support in other areas as well, MoneyTrac is bolstering its customer base and ensuring a healthy future for small-scale, high-risk businesses.
New Payment Solutions for a New World
Such innovative solutions aren't limited to high-risk areas. Glance Technologies, Inc. (OTCQB: GLNNF) has created a simple, secure mobile phone payment system. Like MoneyTrac, Glance Technologies used blockchain to create a secure, fast system that maximizes the potential of modern technology. This system offers merchants customization and data tools previously only available to large businesses, allowing smaller-scale entrepreneurs to better leverage their position and gain attention from local customers. The system offers customers a secure, simple payment system accompanied by loyalty rewards and the ability to identify the best small-scale local providers. The company's Glance Pay system, which started out in Canada, is also now available in the United States.
MassRoots Retail (OTCQB: MSRT) uses technology to help businesses establish links with consumers. Its dispensary portal and social platform help cannabis merchants understand their local market and cannabis consumers identify the best products and sellers in their areas. The company is now looking to expand into financial technology with a cannabis-oriented cryptocurrency. This will provide companies with another way to make payments within the cannabis market. This new technology will also help MassRoots reward customers who provide helpful reviews on its system, increasing the value of the data to both customers and businesses.
Cryptocurrency plays a central role in the cannabis market; consequently, more cannabis companies are moving to adopt this technology. mCig, Inc. (OTC: MCIG), a diversified support company for the cannabis industry, has stepped into the cryptocurrency arena in a number of ways. Late last year, it created a cryptocurrency consulting division named ICOMethod, LLC., to help blockchain companies with business strategy, development and technology integration. It has also become involved in taking cryptocurrency to the high street by investing in multicryptocurrency ATMs.
Another company providing payment solutions to the cannabis industry is Medical Cannabis Payment Solutions (OTC: REFG). Its Green payment system provides a secure way for cannabis merchants to receive and process payments. The company's systems provide complete end-to-end management of a business's finances, including tax collection and sales tracking.
Financial technology has seen big leaps forward in recent years, providing accessible solutions for small businesses. The needs of specialist markets are providing a drive towards further innovation, leading to a host of sophisticated systems for smaller businesses.
For more information on Global Payout, Inc., please visit Global Payout,Inc.(GOHE)
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization 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. 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. For more information, please visit https://www.NetworkNewsWire.com
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. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies 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, FNM, 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 & FNM 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 and FNM undertake no obligation to update such statements.
NetworkNewsWire (NNW) is affiliated with the Investor Brand Network (IBN).
Over the past 10+ years we have consistently introduced new network brands, each specifically designed to fulfil the unique needs of our growing client base and services. Today, we continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.
Please feel free to visit the Investor Brand Network (IBN) http://www.InvestorBrandNetwork.com
Corporate Communications Contact:
New York, New York
FN Media Group, LLC
[ Back To Homepage ]