MTrac Tech, a wholly-owned subsidiary of Global Payout, has executed an exclusive management and development agreement with blockchain-based point-of-sale (PoS) firm Cultivate Technologies to offer an integrated payment processing solution for merchants.

Under the agreement, MTrac will incorporate Cultivate’s PoS system into its existing blockchain-powered payment processing platform.

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Cultivate’s system features instant fees settlement along with improved compliance and reporting.

The new payment processing solution is smaller compared MTrac’s existing platform that requires in-store kiosk. It will support conventional pin/debit and credit card processing hardware.

MTrac Tech CEO Vanessa Luna said: “This agreement with Cultivate brings the tech support, equipment, and ease of integration that will significantly enhance our ability to capture those coveted high-risk-merchant sectors we have been focused on for over a year now.

“The goal and objective of MTrac continues to be bringing on approved merchants through the seamless process our team has developed to fully support the rapid growth we anticipate here on a large scale, to transact and showcase the revenue potential of this company.”

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MTrac is a software technology, sales and marketing, and business development company. It primarily offers MTRAC payment platform, a full-service solution for alternative banking and electronic financial marketplace.

Its technology offerings comprise payment platform, blockchain, compliance, PoS, e-wallet, mobile application and digital payment solutions, among others.