Global Payout Establishes Company In the United Kingdom For Adoption of EMV Technology
SAN DIEGO, Feb. 20, 2013 /PRNewswire/ -- Global Payout, Inc. (OTC Pink: GOHE) has formed a registered company in the United Kingdom, Global Funding Ltd., to become Program Manager of prepaid cards in the European region. Global Funding Ltd., formed in August 2012, has contracted with an issuing bank and stored value processor to issue a prepaid MasterCard® to European residents who require EMV ("Chip and Pin") technology for use in the Euro region. EMV stands for Europay, MasterCard and Visa® , a global standard for inter-operation of integrated circuit cards (IC cards or "chip cards"), capable of acceptance at point of sale terminals and automated teller machines (ATMs) for authenticating credit and debit card transactions. The EMV technology ensures additional security and eliminates potential fraud and illegal card usage. Global Funding Ltd. will be launching their first prepaid card product in March 2013 to accommodate their European business clients requiring "chip and pin" prepaid cards.
Presently, in the United States, EMV technology for prepaid, debit and credit cards is not available. The existing technology in the United States is the magnetic stripe on the back of the cards that is accepted at POS terminals and ATM machines, nationwide.
"Global Payout's expansion to the European Region illustrates our commitment to a more comprehensive offering for our international clients", says Jim Hancock, Chief Executive Officer, Global Payout, Inc., "Our presence in the United Kingdom opens up many revenue opportunities for us in 2013".
About Global Payout, Inc.
Global Payout, Inc., www.globalpayout.com, headquartered in San Diego, California, is a management consultant services company and program manager offering companies electronic payment and prepaid card solutions. Global has a product line of prepaid products that can be utilized off the shelf or the company can customize payment solutions for qualified businesses. Through Global Payout's processors and solution providers, the company offers both international and domestic payment solutions. The company provides for U.S. and international prepaid cards allowing account holders without bank accounts to access funds worldwide. As program manager, reseller and consultant, Global is a provider of prepaid cards in the U.S. for payroll and general spend programs. In addition, Global offers an electronic payment platform that will allow transfer of money to bank accounts and remittance locations, worldwide.
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.
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SOURCE Global Payout, Inc.