San Diego, June 25, 2014 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), the leading new multi-national Program Manager of B2B custom and conventional electronic payment solutions, announced today that it has received a new contract from XPayCard International, LLC to provide MoneyTracTM prepaid debit cards and assigned eWallets through Global Payout's proprietary Consolidated Payment Gateway (CPG), an internet based payments platform that enables payroll solutions and payment disbursements on a worldwide basis. Upfront payment for due diligence and activation fees have been received for the first phase of engagement. Approval for the program is anticipated imminently. The number of initial accounts contracted is set at 2500, but is anticipated to grow significantly thereafter.
XPayCard International, LLC, is an affiliate of PagSuporte (www.pagsuporte.com) and Globaldine (www.globaldine.com) that specializes in international trade development. Their global network allows their companies to quickly and easily obtain competitive prices in connection with logistics and shipping operations. XPayCard's contract with Global Payout allows XPayCard to offer efficient methods of payment to its clients' customers and members. This contract with XPayCard International is for its client, Eternyon, a fast growing international network marketing company in Brazil specializing in advertising, technology and E-commerce. Eternyon has become one of the fastest growing websites in Brazil over the last few months.
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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 Gateway (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.