Payment solutions company Global Payout, Inc. (OTC: GOHE) this morning announced that it will incorporate bitcoin as a payment method for retail and wholesale customers in the cannabis industry, providing a solution for the banking issues that currently face legal cannabis businesses. In support of this initiative, the company’s majority-owned subsidiary, MoneyTrac Technology, Inc., will leverage its virtual financial wallet technology to eliminate cash payments for cannabis at retail stores. “Since there is an inability to access commercial banks for merchant bank accounts, we feel it is imperative to focus on currency alternatives such as bitcoin to service cannabis industry transactions,” Jim Hancock, founder and CEO of Global Payout, stated in the news release. “Furthermore, our payment system is completely ready for use. It will not require a great deal of time or money to incorporate bitcoin into the equation.”
In related news, multifaceted financial news and publishing company NetworkNewsWire this morning released audio of an exclusive discussion with Global Payout CEO Jim Hancock. The wide-ranging interview is currently available at http://nnw.fm/O0rs4.
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