SAN DIEGO, July 30, 2012 /PRNewswire/ -- Global Payout, Inc. (OTC Pink: GOHE) and First American Electronic Payment Solutions, Inc./Intradata Solutions (Intradata), have executed a licensing agreement that will enable Global Payout to employ Intradata's state-of-the-art software to power Global's international MoneyTrac payment solution. The payment technology developed by Intradata is being utilized worldwide by global companies as well as government entities including TSTT (Trinidad and Tobago), TTT Moneycorp and Global Money Remittance. The payment platform is also being utilized by numerous international money remittance businesses worldwide. The company thru its subsidiary Novo Payment is a teaming and solutions provider for IBM. The agreement provides for Global to manage sales, marketing and customer service for their B2B clients. Intradata will host the platform and will provide technical assistance in implementation for each business client. In addition, Global will receive revenue from the platform based upon a revenue share arrangement between both Intradata and Global. Global anticipates the platform will be launched on or about August 15, 2012.
"We believe that our technology is more comprehensive than any electronic payment platform in the market today, says Peter Vitelli, CEO of First American. "Our platform has the capability of making payments on a global basis either directly to banks or thru our vast remittance payment network. We are expanding our payment and processing network daily. Global's experience in the prepaid market will give us opportunities that will give us an edge in the B2B marketplace."
"This is a potential 'game-changer' in Global's drive to provide the best possible payment solutions for our business clients," stated Jim Hancock, Global Payout Chief Executive Officer. "The Intradata technology strengthens Global's efforts to insure the long-term viability, and be on the leading edge of innovation necessary to meet the challenges and demands of the global marketplace."
Global Payout's MoneyTrac platform, enables multi-national companies to pay its members or employees in foreign countries through a web-based portal in several currencies. Accountholders can transfer money from their online account or by cell-phone to bank accounts or prepaid debit cards. Additionally, Global's improved competitive position is expected to positively impact its market share resulting in increased revenue production.
About Global Payout, Inc.:
Global Payout, Inc., www.globalpayout.com, headquartered in San Diego, California, is a management consultant services company offering multi-national companies electronic payment and prepaid debit card solutions. Through Global Payout's processors and solution providers the company offers an international payment platform allowing accountholders to move money to international bank accounts and prepaid debit cards. In addition, the company provides for U.S. and international debit cards, allowing accountholders without bank accounts to access funds worldwide. As program manager and reseller, Global, is a provider of prepaid debit cards in the U.S. for payroll and general spend programs.
About First American Electronic Payment Solutions, Inc./Intradata Solutions
First American thru its subsidiary entity Novo Technology Solutions, Inc., www.novotechnologysolutions.com; www.intradatasolutions.com, headquartered in New York with offices in Florida and Trinidad/Tobago, and its' network affiliates is a full service software payment processing provider. The payment platform including its state of the art mobile payment app provides international companies with an international payment platform which includes real-time Forex exchange, money remittance, bill payment and e-Wallet capability.
Forward-Looking Statements Disclosure:
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, award 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.
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SOURCE Global Payout, Inc.