Cannabis Offshoots: Industry Growth Accelerates Ancillary Needs.
Read the full article on Investorideas.com looking at cannabis ancillary companies https://www.investorideas.com/News/2019/cannabis/09050AncillaryMarket.asp
The maturation of the Canadian and US markets, along with the rapid expansion of international cannabis markets is now beginning to drive the ancillary sector of the industry as more companies realize the need for better payment processing, more reliable delivery services and advanced infrastructure. These new demands on the industry are beginning to generate revenue for such ancillary providers and also provide investors a lower-risk entry point to the cannabis industry as these ancillary providers have no direct plant contact.
Global Payout Inc. (OTC Pink: GOHE) and its wholly owned subsidiary, MTrac Tech Corporation yesterday announced that as the Company enters the last month of the third quarter of 2019 it has reached a point where it is effectively processing tens of millions of dollars in daily transaction volume across its growing base of clients in the multibillion-dollar cannabis industry.
As demonstrated in the Company's recent Q2 disclosure detailing Company financials, MTrac's growth trajectory has remained positive and has continued to gain significant traction throughout the year. This growth can be attributed to the successful strengthening of their foothold and market reach in what has become one of the most dynamic industries in today's economy. This feat has been accomplished in part through MTrac's success in securing several strategic service agreements with some of the largest companies within the cannabis industry today.
The company has recently signed a new account application with an anticipated 34 locations and has applications coming in weekly for the services offered through MTrac.
In addition to their expanding market reach, the Company is also fully engaged with key legislative partners in different states to help push for the adoption of their system as a means of providing merchants within these states with a viable and compliant payment processing alternative to cash as they remain focused on delivering "The Key to Cashless[sup.[R]]" to as much of this diverse and expanding industry as possible.
While there has been a heavy focus on cultivation and production in the cannabis industry for the last few years, the industry is now reaching a new turning point in which ancillary services and infrastructure are becoming more paramount. This growth in the cannabis ancillary market is not only providing the industry with more efficient technology and services but is also beginning to bring in more investment opportunities, with more diversified options than the standard production story we've seen so far.
For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
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|Publication:||Financial News Releases|
|Date:||Sep 5, 2019|
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