San Diego, Feb. 17, 2015 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), a prepaid card program
manager and leading domestic and international payment gateway
solutions provider announced today that it has received approval to
launch the first Prepaid MasterCard®
card with state-of-the art "Chip and PIN" technology from North
International Bank, LTD (NIB). Global Payout is also announcing the
immediate availability of this new "Chip and PIN" card together
with, or without, its Consolidated Payment Gateway platform in all
compliant countries in North America, South America, Central
America, the Pacific Rim, and the Caribbean effective
immediately.
This new Prepaid MasterCard® debit
card program is based upon the EMV standard. This same Chip and PIN
technology has effectively demonstrated a significant reduction in
the multi-billions of dollars lost to fraud and security breaches
each year. The United States is rapidly moving to make the Chip and
PIN Technology mandatory by October, 2015 and this move positions
Global Payout and NIB as early leaders in the move to meet the
October date.
"NIB believes this new development on NIB payment tools provides
a more secure and universal payment methodology. The partnership
with Global Payout and MasterCard helped us launch this product in
record time," said Angel Pacheco NIB's VP of Business
Development.
The new MasterCard Chip and PIN debit card technology
establishes the highest debit card security available to consumers
and merchants and is the 3RD prepaid card program
launched for Global Payout to date. The new Prepaid
MasterCard® and two other debit cards
can be used in connection with Global Payout's proprietary
MoneyTrac® Consolidated Payment Gateway
(CPG) platform to lower payment costs, eliminate check usage and
make payouts and receive payins for vast array circumstances
including: payroll, member payments, vendor payments, overseas
foreign workers, cruise lines, and many other efficiency and
expense lowering purposes.
The word "chip" refers to a computer chip embedded in a card and
the word PIN refers to a personal identification number that must
be supplied by the consumer at the point of sale (POS). The
technology intends to obsolete the current magnetic strip swipe
terminals, rolls of paper and the requirement of signatures making
the new cards difficult to counterfeit or copy. The "Chip and PIN"
technology can be applied to any debit, prepaid debit, credit
and/or ATM cards so that transactions are only validated when the
cardholder's personal identification number (pin) matches the
encrypted information imbedded in the card's microchip. This
provides another level of identification and authentication
security over the conventional magnetic strip card, and makes it
more difficult to extract data or use the card in a fraudulent
manner.
Jim Hancock, Global Payout's CEO stated, "The great thing about
this new NIB MasterCard® is it can be used in, or
sponsored by any OFAC complaint country in the world, and that it
can be used in connection with our Consolidated Payment
Gatewayplatform. We feel we have pent up demand for this new NIB
MasterCard® product and are anxious to launch."
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
us on LinkedIn.
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
