- Global Reserve Platform offers ‘Banking-in-a-Box’ web-based technology
- Capability to provide a wide range of financial product solutions
- Strategic focus on freight forwarding and shipping
In the 16th century, the Belgian city of Antwerp, enthused by the entrepreneurial spirit of its burghers, became ‘the center of the entire international economy’. That innovative force made the city the diamond capital of the globe and the location of the world’s oldest stock exchange building, which is in operation to this day. The port of Antwerp, one of the largest in the world, is testing a blockchain system designed to make the handling of containers more efficient and secure. Developments like these herald the ‘rise of the smart port’, according to one commentator (http://ibn.fm/xTfsB), for it shows the immense potential of fintech and blockchain to streamline the multitude of processes involved in shipping freight. Reducing the frictions encountered in logistics, shipping and freight forwarding is a major goal of Global Payout Inc. (OTC: GOHE), as well. The company has established a division to provide fintech services to underserved supply chain entities. Through it, Global Payout offers freight forwarders, government contractors, motor carriers, customs brokers, and third party logistic providers online access to funds for working capital.
Global Payout has already made its mark in the fintech industry. Its menu of offerings ranges over a variety of state-of-the-art software solutions aimed at companies involved in processing money remittances, wire transfers, bill payments, business-to-business payments, currency exchange, e-wallet payments and other types of financial transactions. Fortified by a collaboration with First American Electronic Payment Solutions, Inc., the company was able to introduce a customizable, ‘banking-in-a-box’ web-based platform. Its Global Reserve Platform (“GRP”) offers the capability to execute the front-to-back office processing requirements of domestic, foreign exchange and international payment service providers and is expected to improve workflow, operational efficiencies and global financial management for enterprises operating across the globe.
Recently, Global Payout published details of a joint venture agreement between its majority-owned subsidiary, MoneyTrac Technology, Inc. (“MTRAC”), and GreenBox POS, LLC (“GBOX”) (http://ibn.fm/55o2A). GBOX is a technology company that builds end-to-end suites of financial products that can benefit almost any industry. Churning out a string of innovations, the software developer has been awarded five provisional patents for its technologies. The company has the capability to modify existing point-of-sale systems and is presently offering custom-built blockchain kiosk machines. Under the terms of the agreement, MoneyTrac will provide sales and marketing support to GBOX.
MoneyTrac has been cutting other deals, too. Last year, it signed an agreement with H Smart Inc. under which H Smart Inc. will use MTRAC’s financial technology platform. H Smart, a division of Marijuana Company of America (OTC: MCOA), is a developer and distributor of innovative wellness and cannabidiol products. The technology available on MTRAC’s platform, employing software developed and provided by MTRAC, will allow H Smart to pay commissions to its affiliates (http://ibn.fm/qVMv4).
As Global Payout expands its network of business partners, its revenue streams multiply. The company continues to explore avenues through which its payment and transaction processing systems may reduce costs and improve client satisfaction, such as freight forwarding and shipping. Shipping a container typically involves over 20 different parties and over 100 different transactions. Since many of these interactions are carried out by email, phone and fax, paperwork accounts for a substantial part of container transport costs. However, blockchain solutions like those being developed by Global Payout could limit intermediary involvement and thus substantially reduce transaction costs.
For more information, visit the company’s website at www.GlobalPayout.com
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