San Diego, Feb. 3, 2015 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), an emerging leader in domestic and international payment gateway solutions and mobile payment applications is announcing today that a strategic operator and investor has joint-ventured with Global Payout to head and fund its European unit, Global Funding, Ltd. Effective immediately, European-based Diocles Consult Ltd. (Diocles), Malta, will now lead Global Payout's sponsored Chip and PIN card sales as well as offer Global Payout's Consolidated Payment Gateway (CPG) platform, and other payment technologies throughout Europe and in other select situations. Financial benefit to Global Payout and new customers for Global Funding in Europe will be immediate.
Diocles has an expanding and diverse portfolio of business including the provision of financial services to English, French and German customers, as well as others throughout Europe and beyond. Diocles is also an experienced operator in the financial services and prepaid card industries. The Diocles/Global Funding partnership is expected to generate revenues to Global Funding through Diocles direct use of Global Payout payment systems and through new, external customer acquisition. The partnership will also enable the launch of additional Global Payout sponsored payment solutions in Europe, including the potential use of Maxie Mobile's mobile payment platform for remittance, picture check cashing, bill pay, and mobile wallets. Diocles will also lead the sales of Global Payout's Chip and PIN (EMV) prepaid MasterCards internationally.
Diocles is expected to deliver contracts with three European based companies including: an online retailer of health and beauty aids, and supplements; an international trading and stock brokerage platform for investors and traders; and, a travel and tourism company recently named "World's Leading Luxury Tour Operator" at the annual World Travel Awards.
Dr. Michael Rau, CEO and owner of Diocles commented, "We consider this joint venture as an excellent opportunity to introduce a new and innovative financial solution whose time has come. Europe has already adopted Chip and PIN prepaid cards as the gold standard and we have a substantial opportunity to utilize prepaid cards and the Consolidated Payment Gateway in our own businesses, as well as introduce Global Payout financial technology to many others. We are very pleased to work with Global Payout's payment platforms and their management team to develop this market quickly."
As defined under agreement, Global Payout will share daily management responsibility and maintain the ongoing working relationships with the issuing bank, the payment processor and the card provider on behalf of Global Funding. Global Payout will also train and manage Diocles' support personnel, supervise the operations of all card programs, and supervise the application and implementation of new card programs such as planned General Spend Reloadable Card Programs in the future.
Diocles' responsibilities include the development of new business and the addition of new customers for prepaid cards and the CPG; support a Global Funding office in Europe for sales, marketing, implementation and operations for additional prepaid card programs. Diocles will also offer Global Payout's eWallet system and mobile payments platform alongside the card programs. Global Funding currently has approximately 5,000 chip and PIN cards in inventory and ready for distribution. Revenues from the partnership, including from card sales, implementation fees and card transaction income, will be shared between Global Payout and Diocles in the same percentage as ownership. London based Global Funding is already the program manager of the prepaid chip and PIN cards designed for use in European countries where chip and PIN is the industry standard.
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 MoneyTrac®, 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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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.