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.
Engage with us by following Global Payout on Twitter and connect with
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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
