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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new information, including press releases, investor newsletters,
SEC filings or other information, is disclosed by the Company, are
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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
