San Diego, May 13, 2014 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), the leading new
multinational Program Manager of B2B custom and conventional
electronic payment solutions, announced today that it is continuing
its mission to provide access to the 2.5 Billion under-banked and
unbanked adults in the world by further expanding its international
prepaid card capability outside of Europe and The United
States. The new international prepaid cards will be
integrated with Global Payout's proprietary Consolidated Payment
Gateway (CPG), a global financial payments tool that allows
businesses, organizations and government agencies to distribute
money to their payment receiving constituents. These constituents
can then utilize the financial tools afforded through the CPG and
Global Payout's MoneyTracTM prepaid cards to manage,
spend and/or transfer money simpler, cheaper and more efficiently
than traditional bank accounts. The expanded geographic
capabilities and product functionalities are made possible through
Global Payout's newest financial institution which is designated by
MasterCard Worldwide as a Principal Member, and its latest card
processor partnership that provides processing and distribution
redundancies to ensure operational functionality and the timely and
secure delivery of MoneyTracTM prepaid cards. By
adding this new international prepaid card to the CPG platform, it
will further solidify geographic reach into new and existing
countries while giving multi-national companies an effective
solution for their members or employees to access and distribute
payments or cash.
"Our goal is to build the world's largest and most trustworthy
money transfer mechanism in the world", stated Jim Hancock, CEO.
"We aim to connect business, government and organizations to the
people they are making payments to wherever they may be and do it
cheaper, faster and safer than anyone else. This is how we intend
to make financial inclusion a reality and reach the 2.5 Billion
under-banked adults of the world. And by doing so we will have
meaningful participation in a $3 Trillion market," he added.
The expanded functionalities of bank and processor will allow
Global Payout's MoneyTrac accountholders to receive prepaid
cards, manage and distribute money, receive multicurrency
cards both in dollars and euros, and to make payments to bank
accounts and credit cards worldwide. Global Payout continues to
develop payment programs that can reach regions anywhere in the
world that are OFAC compliant with the MoneyTracTM CPG. The
addition of Global Payout's newest prepaid card processor will
facilitate card issuance and also create issuance redundancies to
further strengthen capabilities in new and existing markets.
Global Payout is also adding new simplified but technologically
advanced account opening and verification software which allows
users to scan their credentials such as driver licenses, Passports
and other government issue identification documemts that will
immediately scan and submit through a camera phone to establish
Global Payout's CPG is both compliant with and certified by the
Payment Card Industry Data Security Standard (PCI DSS), a set of
requirements designed to ensure that ALL companies that process,
store or transmit prepaid card information maintain a secure
About Global Payout, Inc.
Global Payout, Inc., www.globalpayout.com, is the leading new
Program Manager of B2B custom and conventional electronic payment
solutions for domestic, international and multinational businesses,
organizations and government agencies worldwide. Global Payout
uniquely serves an estimated $3 trillion market with a secure,
easier to use and lower-cost payment platform giving users
competitive and comparative advantages over banks and other
payments and remittance providers. The company's proprietary and
fraud resistant Consolidated Payment Platform (CPG) solves fund
disbursement and payment challenges by giving the user the ability
to transfer money, disburse funds or make ACH payments from:
corporations, member organizations, governmental and
nongovernmental organizations, institutions, faith-based
organizations, network marketing companies, unions and
administrators of various types of financial aid and entitlement
programs such as food stamps, healthcare benefits and academic
related payments that need to reach "banked" or "non-banked"
individuals, businesses, organizations or government agencies in
any World Financial Task Force or OFAC compliant country.
Branded as MoneyTracTM, the CPG platform provides
businesses, organizations and government agencies (and their
cardholders or account holders) the ability to manage and monitor
payments to and from "non-bank" accounts and eWallets online, and
through a variety of prepaid debit card solutions issued via most
major card issuers, as well as other customizable payment
solutions. MoneyTracTM payment solutions enable these
establishments to make payments to their cardholders or
accountholders with or without bank accounts, allowing both to
possess and distribute funds in almost any country for payroll
purposes, vendor payments, rebates and expense reimbursement and
daily spending purposes while also providing seamless foreign
currency exchange when/where applicable. Global Payout is also
capable of including in these electronic payment platforms the
ability to reload cards and/or transfer money to bank accounts,
credit cards and debit cards worldwide. The CPG platform is a
permission based API (application programming interface) and will
also include mobile app capability in the near future.
Forward-Looking Statements Disclosure:
This press release may contain "forward-looking statements"
within the meaning of the federal securities laws. In this context,
forward looking statements may address the Company's expected
future business and financial performance, and often contain words
such as "anticipates," "believes," "estimates," "expects,"
"intends," "plans," "seeks," "will" and other terms with similar
meaning. These forward-looking statements by their nature address
matters that are, to different degrees, uncertain. Although the
Company believes that the assumptions upon which its forward
looking statements are based are reasonable, it can provide no
assurances that these assumptions will prove to be correct. All
forward-looking statements in this press release are expressly
qualified by such cautionary statements, risk, and uncertainties,
and by reference to the underlying assumptions.
CONTACT: Global Payout, Inc.
Source: Global Payout, Inc.