San Diego, Oct. 15, 2014 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), an emerging leader in
payment solutions, announced today that its wholly owned
subsidiary, Maxie Mobile, Inc., a mobile financial services
technology ("FinTech") provider focused on underserved markets in
the United States and globally, has launched new low cost, fixed
fee remittance capabilities on its Maxie Mobile app allowing
foreign workers to send payments to up to 60 home countries around
the world directly from their mobile phones.
The Maxie Mobile app is offered free and works on all major
mobile platforms - iOS (Apple products), Android, Windows, Google,
Blackberry - and with any major carrier.
Remittance is a massive market, consisting primarily of workers
living in foreign countries who need to send money back to their
families at home. The World Bank estimates that global
remittances will total $581 billion in 2014 and rise to $681
billion for 2016.
According to remittance industry analysts, the price of sending
money to many underserved markets is inflated by large, traditional
payment transfer companies, which have dominated the global
cross-border remittance market. The low cost, fixed fee remittance
capabilities of the Maxie Mobile app will allow foreign workers and
their families to keep more of the money they have earned, which
could improve their lives and the economies of their home
countries.
While the Maxie Mobile app will be marketed to foreign workers
around the world, an important initial target will be workers from
Latin America earning money in the United States. Remittances
from the U.S. account for 75% of the total sent to Latin American
countries and are expected to climb to approximately $50 billion in
2014, according to World Bank data.
Maxie Mobile has already initiated a marketing strategy to reach
a large number of U.S. based foreign workers. Additional
markets will include Asia, the Pacific Islands, the Middle East and
Africa.
"Maxie Mobile is working closely with key Hispanic
representatives, organizations and media, both in the U.S. and in
the workers' home country, which are expected to provide direct
access to large numbers of potential customers in their native
language through a source they are already familiar with," said Jim
Hancock, CEO of Global Payout, Inc. "These relationships are
expected to position the Maxie Mobile app as
the mobile wallet for Latin American
workers in this country."
The recent acquisition of Maxie Mobile by Global Payout signals
the Company's entry into the expanding financial technology
sector. Within the "FinTech" 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. A large portion of Maxie's targeted market are the
estimated 68 million unbanked, under-banked and unhappily banked
consumers in the United States and the estimated 2.5 billion
worldwide. 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.
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
investors@GlobalPayout.com
1-800-594-4350