San Diego, Oct. 7, 2014 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), an emerging leader in
payment solutions, announced today its strategy to capitalize on
the existing business and expansion potential of Maxie Mobile,
Inc., a mobile financial services technology provider focused on
underserved markets in the United States and globally, which was
recently acquired by the Company in a stock-for-stock
transaction.
The acquisition of Maxie Mobile signals Global Payout's entry
into the expanding financial technology sector. Within the
financial technology sector, mobile and payment technologies, like
those offered by Maxie Mobile, are the segments expected to
experience the most explosive growth in the coming years.
Maxie Mobile, Inc. was formed to provide mobile financial
services to the estimated 68 million unbanked, under-banked and
unhappily banked consumers in the United States and the estimated
2.5 billion worldwide. There are rising numbers of consumers
who prefer managing their spending outside of traditional banking
and credit relations. Globally, there are an estimated 6.6
billion mobile phones in use, while only 2 billion adults have bank
accounts. This leaves a large unbanked population who use
mobile phones and can be targeted for mobile financial services
including bill payment, payroll deposits, cross border remittances,
check cashing, prepaid phone top up, and free long distance
calling. With integrated prepaid cards, functionality
is expanded to include the ability to purchase products online or
at retail locations as well as access cash at ATMs worldwide.
Maxie Mobile has existing customers in the telecommunications
and hotel and gaming industries that use the Maxie Mobile app to
deliver financial services, including payroll, for both unbanked
and banked workers. As a universal financial solution on a
mobile platform, Maxie Mobile expects to expand its current U.S.
customer base and into additional international markets. The
global remittance market alone is projected to reach $681 billion
for 2016, and with a growing number of workers in foreign countries
needing to send money back to their families at home, the Maxie
Mobile app represents a more convenient and less expensive
alternative to traditional remittance providers. Additional markets
for Maxie Mobile include college students who are away from home
and need to receive money from parents, pay their living expenses
and have a means to spend money to buy food and other necessities
with their debit cards.
The integration of Maxie Mobile into Global Payout provides the
opportunity to expand the card options currently associated with
the Maxie Mobile app to include Global Payout's international card
offerings. The Maxie Mobile app works on all mobile platforms
and with all carriers.
"Given its existing customer base, additional opportunities in
vertical markets, and its position as a proven mobile financial
services technology, the acquisition of Maxie Mobile is a
transformative event for Global Payout," said Jim Hancock, CEO of
Global Payout, Inc. "The Maxie Mobile app is the first
financial technology that the Company owns and signals our entry
into the FinTech industry. Market response to the app has
been extremely positive with existing customers seeking to expand
their use of Maxie Mobile. With greater functionality being
added to the app in the coming weeks, we anticipate even more
interest from companies and consumers in both domestic and
international markets."
About Global Payout, Inc.
Global Payout, Inc. (www.globalpayout.com) is an emerging leader in
the financial technology sector serving the needs of the world's
mobile population. With the acquisition of Maxie Mobile, a
comprehensive, cloud based payment solution platform built for
mobile phones, tablets and computers, the Company is positioned to
meet the needs of the estimated billions of unbanked, under-banked
and unhappily banked consumers worldwide. The Maxie Mobile
app, which operates on all major mobile phone platforms and with
all major carriers, gives users secure access to services including
bill payment, payroll deposits, cross border remittances, check
cashing, prepaid phone top up, and free long distance
calling. With an integrated prepaid card, users can purchase
products online or at retail locations as well as access cash at
ATMs worldwide.
Shareholders who would like to receive email notifications when
new information, including press releases, investor newsletters,
SEC filings or other information, is disclosed by the Company, are
asked to send their names and email addresses to investors@globalpayout.com.
Those interested in following the progress of the Company can also
engage with @GlobalPayout on Twitter.
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.
CONTACT: Global Payout, Inc.
Investor Relations
IR@GlobalPayout.com
1-800-594-4350
