San Diego, Nov. 6, 2014 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), an emerging leader in international payment solutions, announced today a new contract for the ongoing use of its Consolidated Payment Gateway (CPG) platform to make monetary payouts and receive pay-ins in multiple currencies. The new customer, State Prime Limited, is a leading global provider of online financial products and services and will use the CPG to pay and receive payments to and from their customers in countries around the world. Global Payout will receive revenue from the platform set-up, load fees, transaction fees, currency conversion fees, and ongoing monthly fees.
The CPG is an international payment platform capable of facilitating all kinds of payment making or payment receiving needs while also seamlessly being tied to the FOREX for currency exchange purposes. In effect, the CPG helps companies, organizations and individuals make electronic, bank-like transactions without the high cost of traditional banking fees or paper checks directly from a personal computer or internet connected device. Payments can be made to an eWallet, traditional account types, or some form of a prepaid card.
State Prime Limited (SPL) estimates up to 1,600 CPG users initially, primarily in China, Hong Kong, Australia, and New Zealand. In 2015, SPL has indicated the contract may expand to include co-branded international prepaid cards which would provide additional revenue.
State Prime Limited offers a variety of online financial products and trading services and related training to individuals and institutions around the world, including online foreign exchange, gold, silver, metals, CFDs, options, futures, NDF, and other products and tools, using top international trading technology to make online financial transactions a method of investment in which anyone can participate. State Prime Limited's trading platform consists of more than 12 major international banks to provide sufficient liquidity ensuring that the company is able to provide the minimum spread and the most stable execution price.
The contract extends Global Payout's footprint into new market opportunities and geographic areas. And further supports Global Payout's mission to become a pseudo-bank by providing financial services to the under-banked, unbanked and bank adverse at favorable pricing.
"State Prime Limited has ambitious plans for growth, particularly in the China market where they are positioning themselves as a master agent for Chinese currency exchange firms," said Steven Yu, General Manager of State Prime Limited. "As our business grows, we expect to expand upon the products and services that Global Payout provides, including the use of a co-branded, prepaid international card."
"We are very pleased to work with State Prime Limited and believe our CPG is the ideal payout and pay-in solution for their affiliated companies and customers," commented Jim Hancock, CEO. "We look forward to working with State Prime as their international payment solution needs grow."
About Global Payout, Inc.
Global Payout, Inc. (www.globalpayout.com) is a leading provider of comprehensive, customized electronic payment solutions for domestic, international and multinational businesses, organizations and government agencies worldwide. Global Payout implements payment solutions tailored to a client's specific needs, which may include MoneyTracTM, the company's Consolidated Payment Platform (CPG), domestic and international prepaid cards, chip and pin cards, and custom and co-branded prepaid cards. The company targets an estimated $3 trillion market including the estimated 60-70 million unbanked, under-banked and unhappily banked adults in the U.S. and the estimated 2.5 billion around the world.
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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.