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 accounts.
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 environment.
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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:
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