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Fintech Brings Financial Revolution for Entrepreneurs

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. (OTCQB: GLNNF) has produced a mobile phone payment system that is secure, simple to use, and helps local businesses reach their customer base. MassRoots Retail (OTCQB: 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 Payout 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).

About NetworkNewsWire

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.

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