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PRESS RELEASE: Paid content from NewMediaWire
Press release content from NewMediaWire. The AP news staff was not involved in its creation.

CannaTrac Announces Manufacturing and Distribution Agreement with Valid USA, Inc.

December 17, 2019 GMT

Chicago, IL - ( NewMediaWire ) - December 17, 2019 -  CannaTrac® Technology, Inc. (“CannaTrac®” or “the Company”), the leading cashless payment solution for the cannabis and hemp industries, announced today they have signed an agreement with Valid USA, Inc. (“Valid”). 

As part of the agreement, Valid will provide the technology to implement, distribute, license and promote CannaTrac’s payment solution software and products under the name CannaCard®. The partnership with Valid will allow CannaTrac® to expand its current client base to include international retailers, provide enhanced security for CannaCard® users while increasing convenience, and produce additional consumer technology in the near future. Through this partnership, CannaTrac® also plans to expand the unique features of the CannaCard® to include a lifestyle rewards program and in-store purchase options.

“The partnership announcement with Valid is a major milestone for CannaTrac and the CannaCard,” said CannaTrac Vice Chairman and CEO Thomas Gavin IV. “We could not be more thrilled to work with one of the top secure solutions providers in the world to expand our offerings into the international market. We look forward to broadening our consumer and retailer benefits as we innovate and bring new technology to our CannaCard platform.”

Valid is a global technology provider that offers businesses a variety of solutions in payment, mobile, data, and identity, as well as Digital Marketing and Digital Certification. The company develops both physical and digital solutions that allow companies, government agencies, consumers and citizens to identify themselves, connect, communicate and make secure financial and data transactions.

“We are thrilled to start this endeavor with CannaTrac and consolidate our Secure Services Hub platform to provide a complete set of solutions to the Fintech industry in the USA,” said Franco Zaro, Director of Business Development at Valid.

The rapidly expanding global cannabis market, expected to reach $66.3 billion by 2023, presents a large opportunity to bring the safety and convenience of CannaCard to consumers and businesses around the world. 

For more information about CannaTrac®, visit https://www.cannatrac.com/.

ABOUT CANNATRAC®CannaTrac® is dedicated to bringing safety to the cannabis and hemp industries by serving as the industry’s leading cashless mobile payment system solution. CannaTrac® created the CannaCard® and the CannaCard App™ to provide consumers and retailers with a convenient way to benefit from increased safety and convenience through cashless purchases within the legal cannabis industry. Shop.Pay.Earn Rewards™ with the CannaCard®. To learn more about CannaCard® or register as a merchant, please visit https://cannatrac.com/

ABOUT VALIDValid (B³: VLID3 - ON) makes your digital life more secure with solutions that ensure security-based technologies for document identification, mobile security, SIM cards, digital certifications, banking applications, transportation services and anywhere else client data is located. With 6,000 employees in 16 countries, we take into account the particularities of each culture and region to create customized and integrated solutions, making Valid a relevant global player when it comes to online lifestyle. Our ability to safely identify objects, transactions and people makes the Company the largest issuer of identification documents in Brazil, the fifth largest producer of SIM Cards in the world and one of the top 10 global manufacturers of banking cards. When you are online, Valid protects you. For more information, go to www.valid.com. 

PR ContactCaitlin FranscellCMW Mediacaitlin@cmwmedia.com