San Diego, March 2, 2015 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), a leading provider of
international electronic payment solutions, announced today the
ability of its Consolidated Payment Gateway (CPG) platform
technology to make payouts for virtual currency and crypto currency
exchange companies. Now, companies that exchange virtual currency
such as Bitcoin, LiteCoin and Ripple, can now give their clients
the ability to receive payouts through the CPG to
MoneyTrac® Prepaid Discover® Cards for
US residents, or to Prepaid MasterCards® for
international residents. The system is available for use
now.
"We are seeing a growing diversity of needs from potential
customers who want to utilize our open loop and closed loop payment
system capabilities across a growing list of new and unique
opportunities," said Jim Hancock, CEO of Global Payout, Inc. "And
payouts for virtual currency platforms and virtual currency
exchange companies are just a few. Our Consolidated Payment Gateway
in combination with our prepaid debit card options is a speedy and
simple way to make low cost payouts. And interest is growing for
these customized applications as we have developed the technical
capabilities that can answer these new demands. The coming weeks
should prove to be an exciting time for our company," he added.
With 6 billion prepaid card transactions in the United States in
2009 alone, and valued at more than $140 billion, the U.S. prepaid
card transactions, are growing substantially faster than
transactions on debit and credit cards according to a Federal
Reserve System Study. With approximately 10% current market
penetration, some industry growth rates have been recently
estimated at 42%. The growth is generally attributable to four
primary usage patterns including; 1) An alternative to a checking
account; 2) A tool to give your child their allowance; 3) An
alternative check cashing tool and 4.) To provide access to
electronic transactions. Another key driver is coming from the card
program managers that provide innovative tools to facilitate use
and create new opportunities. As a result, management sees a huge
and growing opportunity to provide many new solutions in eCommerce,
payroll, payouts, revenue recognition or categorized spending,
closed loop payment, payment gateway services, and currency
conversion platforms to a growing list of businesses and consumer
categories.
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, 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 and under-banked adults in the U.S. and the estimated 2.5
billion unbanked and under-banked adults around the world.
Engage with us by following Global Payout on Twitter and connect with
us on LinkedIn.
Forward-Looking Statement: The statements in this press
release…are forward-looking statements. Such statements involve
risks and uncertainties, including, but not limited to, our ability
to complete post-closing conditions to the merger, and any other
difficulties related to risks and effects of legal and
administrative proceedings and governmental regulation, future
financial and operational results, competition, general economic
conditions, and the ability to manage and continue our growth.
Should one or more of these risks or uncertainties materialize,
or should underlying assumptions prove incorrect, actual outcomes
may vary materially from those indicated. Important factors that
could cause actual results to differ materially from the
forward-looking statements we make in this news release include
market conditions and those set forth in reports or documents we
file from time to time with the SEC. We undertake no obligation to
revise or update such statements to reflect current events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
CONTACT: Global Payout, Inc.
Investor Relations
IR@GlobalPayout.com
1-800-594-4350
