San Diego, Sept. 9, 2014 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), a leading provider of international electronic payment solutions, announced today the close of its acquisition of 100% of Maxie Mobile, Inc., a mobile payments provider focused on underserved markets in the United States and globally, in a stock-for-stock transaction.
With the completion of the acquisition, Maxie Mobile's mobile payment and related capabilities are expected to be integrated with Global Payout's existing MoneyTracTM Consolidated Payment Gateway and international prepaid debit card programs to create a company with a broader range of service offerings. Global Payout and Maxie Mobile both target the estimated 60-70 million unbanked and under-banked adults in the U.S. and the estimated 2.5 billion un-banked and under-banked adults around the world.
Maxie Mobile's mobile payment application is given away for free and is designed to operate on any mobile smartphone platform including Android, Apple, Blackberry and Windows based phones. From their phones, app users are able to pay bills, cash their checks, top-up a prepaid phone, send money to 120 countries, and make free long distance calls. Users also receive a virtual and prepaid debit card enabling on-line and retail purchasing and instant access to ATMs.
About Global Payout, Inc.
Global Payout, Inc., www.globalpayout.com, is a 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 is targeting 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), branded as MoneyTracTM, solves fund disbursement and payment challenges by giving the user the ability to transfer money, disburse funds or make ACH payments from a wide variety of sources. These sources include 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.
MoneyTracTM 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:
Forward-Looking Statement: The statements in this press release, such as "Global Payout is targeting 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," and any implied or perceived benefits from the Merger between GOHE and Maxie Mobile, and any other effects resulting from any of the above, are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, our ability to complete post-closing conditions to the merger, and any other difficulties related to risks and effects of legal and administrative proceedings and governmental regulation, future financial and operational results, competition, general economic conditions, and the ability to manage and continue our growth.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.