San Diego, Jan. 5, 2015 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), an emerging leader in domestic and international payment gateway solutions and mobile payment applications, announces that it has received a new contract with a Certified Public Accounting firm for its rapid refund solution designed specifically for Electronic Return Originators (ERO). As a result, EJ Watson CPA of Florida will utilize Global Payout's Consolidated Payment Gateway (CPG) platform and MoneyTracTM Prepaid Debit Cards in combination for a more simplified, expedient and cost-effective method of rapid refund of client tax reimbursements. EJ Watson will be able to access the payment platform portal from any computing device and it will be used in combination with instant issue and reloadable debit cards. EJ Watson CPA has already placed an order for MoneyTracTM Prepaid Cards and is being set up for use on the CPG platform.
As previously reported, Global Payout has developed a revolutionary application of its payment platform that combines the use of their CPG and its MoneyTracTM Prepaid Debit Cards. The application allows any ERO to issue and activate prepaid debit cards directly to tax clients for the receipt of their refund upon the completed filing of their tax return. Meanwhile, the IRS is able to load tax refund dollars directly to that prepaid card upon receipt of electronically filed tax return documents. Tax refund customers will be able to pay bills, withdraw cash at ATMs, or spend monies deposited to the card just like any other debit card.
"Our system is a win, win for everyone. The tax client does not have to pay out of pocket tax preparer fees because they are deferred until the refund is issued by the IRS, and the tax preparing ERO attracts more clients due to the speed of the refund and deferred cost of preparation. We are pleased to work with EJ Watson and expect this market to develop nicely for Global Payout in the coming months and years," said Jim Hancock, CEO.
Global Payout continues to expand and customize the uses of its Consolidated Payment Gateway and its MoneyTracTM Prepaid Debit Cards, including the anticipated inclusion of mobile applications through its Maxie Mobile subsidiary. The rapid refund process is one of many new and recent initiatives.
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, custom and co-branded prepaid cards, and merchant processing services. 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.