Lock Trust, Inc. Reinvents Payment Processing Tax & Gaming
SALT LAKE CITY, September 11, 2017 (Newswire.com) - With a proposal to the Trump administration for automated tax collection for all e-commerce sales, Lock Trust would act as a portal to all online transactions. With patents pending in both the United States and the European Union, Lock Trust disrupts the payment industry with innovative technology.
With 2 trillion or more dollars of underground monies being exchanged yearly, Taxes not being collected and over 60 percent of all online gaming transactions unable to process due to geo location issues, Lock Trust announces the success of a 4-year project development to solve these problems.
Example:
$450 million dollars was not paid in taxes from one utility company alone, according to the NY Times; Lock Trusts' solution would solve the United States deficit and automate payment processing.
Lock Trusts’ technology has the ability to track and monitor transactions such as gaming and Medical Marijuana; they can decline transactions to stop cross boarder risk, and collect taxes paid directly to both state and federal.
Banking the unbankable, Marijuana was made legal on a state level, while keeping it illegal on a federal level - It made it un-bankable and gave the cartel a free pass. Only when cash is taken out of the equation will it be a good business move. The revenue alone that is sitting in unbanked cash would stimulate the U.S. economy allowing government to automate tax collection solves all these problems
The Gaming issues of not every state desiring for it to be legal would be mitigated with real time monitoring of transactions instead of using outdated BINs of issued cards to stop these illegal transactions.
About Lock Trust, Inc.
Lock Trust, Inc. is a startup founded in 2013 by a 25-year vet in the industry. The company was born in Orlando, Florida & based in both London, England, and Salt Lake City, Utah. Our vision is that Lock Trust technology will move the world into a one world market; securely combining both physical and digital channels.
Press Contact:
Lock Trust, Inc.
Gina LeBlanc
Tel.: +1 407 520 9731
Email: Gina@LockTrust.com
Forward-looking Statement
This press release contains forward-looking statements that are in inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "forecast", "intend", "may", "plan", "project", "predict", "should" and "'will" and similar expressions as they relate to Lock Trust inc are intended to identify such forward-looking statements. These forward-looking statements involve risks and uncertainties concerning the Company. Actual events or results may differ materially from those described in this press release due to a number of factors. Lock Trust is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.