Global Payout Announces Major Product Launch With World's Second Largest Payment Network Global Payout Can Now Transfer Money To China UnionPay Cardholders And Chinese Bank Accounts
SAN DIEGO, Jan. 28, 2014 /PRNewswire/ -- Global Payout, Inc. (OTCPK: GOHE) announced today that they have launched the ability to transfer money to China UnionPay (CUP) bank cardholders. CUP is the only domestic bank card organization in the People's Republic of China and is the second largest payment network in the world. The international transfer of money is made possible by Global Payout's proprietary Consolidated Payment Gateway (CPG). Because the China Union Pay card is the largest debit card platform in China representing 70 banks, Global Payout stands to receive millions of new, Chinese account holders whom can receive funds from multi-national companies in an efficient manner. The integration of China UnionPay gives Global Payout access to the world's largest market.
The ability of Global Payout to access these millions of Chinese bank accounts, is the result of previous licensing agreements with First American Electronic Payment Solutions, Inc., and Intradata Solutions, LLC. As a result, multi-national companies that have Chinese residents are now able to payout money to their employees or members with bank accounts that are linked to the China Union Pay bank card. It is estimated that there are millions of current Chinese residents who could utilize these payout services from Global's international client companies.
China UnionPay is the only domestic bank card organization in China. In addition, accountholders of Global's Consolidated Payment Gateway are not limited to the transfer of money to Visa or MasterCard debit and credit cards. Global's effort to reach out to residents of China will significantly increase revenue beginning in the second quarter 2014 and will extend to future years thereafter. The CUP integration will diversify Global's portfolio of payment options and result in a competitive advantage in the B2B payments industry.
"Our strategic partners, First American and Intradata have allowed Global Payout the opportunity to reach out to China, the largest country in the world," says Jim Hancock, CEO of Global Payout. "By integration of our payment platform with CUP, Global provides a competitive advantage for our clients to access all Chinese residents."
About Global Payout, Inc.
Global Payout, Inc., www.globalpayout.com, headquartered in San Diego, California, is a B2B purveyor of electronic payment solutions such as prepaid debit cards and e-wallet solutions specifically suited to: large, medium and small sized businesses, member organizations, governmental and non-governmental organizations, institutions, religious organizations, network marketing companies, unions and recipients of various kinds of financial aid. Global Payout's proprietary Consolidated Payment Platform (CPG) and prepaid debit card solutions, as well as other customizable payment solutions, uniquely serves an estimated $3 trillion market with an easier to use and a lower cost platform providing competitive and comparative advantages. The company's payment solutions, and U.S. and international prepaid card offerings allow issuers to distribute funds, and account holders with or without bank accounts to access and use funds, on a worldwide basis, for payroll purposes, vendor payments, rebates and general spend prepaid programs. Additionally, Global Payout is capable of including in these electronic payment platforms the ability to transfer money to bank accounts, credit cards and debit cards worldwide. The company stated publicly on January 14 that it believes 2014 will be its breakout year in sales revenue, new contracts and new clients. Accordingly, in the first quarter of 2014, the company will be able to transfer money to China Union Pay (CUP) accountholders in China and Asia (also Brazil and elsewhere), and by the second quarter of 2014, the company will be issuing CUP cards to employees, independent contractors or affiliates of Asian multi-national companies. The company has already established the ability for employees or members of international companies to transfer money to, and use, in Europe, Asia, Africa, South America and the U.S. (and more soon).
About First American Electronic Payment Solutions, Inc./Intradata Solutions
First American thru its subsidiary entity Novo technology Solutions, Inc., www.novotechnologysolutions.com, headquartered in New York with offices in Florida and Trinidad/Tobago, 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. The company is presently deploying a state of the art biometric payment platform for government payments in the Caribbean.
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.
SOURCE Global Payout, Inc.