SAN DIEGO, April 29, 2014 /PRNewswire/ -- Global Payout, Inc. (OTC Pink: GOHE), the leading new Program Manager of B2B custom and conventional electronic payment solutions, announced today that it supports Target Corp.'s accelerated national transition to Chip and PIN technology and installation of new Chip-and-PIN payment terminals in all 1,797 United States (US) stores by September of this year. The move by one of our nation's largest retailers is well ahead of the October 2015 EMV Europay MasterCard and VISA (EMV) "liability shift" mandate imposed by most major card services companies, and clearly demonstrates the major push to eliminate or deter cyber-attacks and fraud activity here in the US. The EMV technology implementation is a move to catch up with international counterparts who already utilize the technology, and have seen a reduction in fraud statistics. Concurrently, Global Payout also announced its initiatives to launch Chip and PIN, debit card technology through its proprietary MoneyTrac™ Consolidated Payment Gateway (CPG) payments platform, its desire to immediately develop Chip and Pin cards not only in Europe, but also worldwide. Efforts are already underway.
The MoneyTrac™ Consolidated Payment Gateway is emerging as the newest, leading mass payments platform capable of real time account access, cash management and funds disbursement on a global basis. The CPG incorporates a wide range of financial services capability and geographic accessibility while providing secure, efficient and cost effective money transfers to any Office of Foreign Assets Control (OFAC) compliant country for business accountholders and their individual subaccount holders and cardholders. Through the MoneyTrac™ CPG, disbursements can be made to hundreds of cardholders or accountholders, or hundreds of thousands, in a single, simple effort. By providing mass payment services, payroll capabilities, ACH, prepaid instant issue debit cards, and easy to use money transfer and remittance and other money transfer capabilities, Global Payout is able to provide valuable access to financial services to a considerable percentage of the 2.5 billion unbanked and under-banked adults in the world (according to the World Bank) at a considerably lower cost than direct mail or traditional bank transfer methods.
Global Payout is currently in the midst of CPG and prepaid debit card program launches and initiatives in China, Malaysia, Canada, Germany, England, The United States, Brazil and other countries in South America, the SEPA (Single Euro Payments Area) within the European Union (EU), as well as the Philippines. Others will be announced soon.
About Global Payout, Inc.
Global Payout, Inc., www.globalpayout.com, is the leading new Program Manager of B2B custom and conventional electronic payment solutions for domestic, international and multinational businesses, organizations and government agencies worldwide. Global Payout uniquely serves an estimated $3 trillion market with a secure, easier to use and lower-cost payment platform giving users competitive and comparative advantages over banks and other payments and remittance providers. The company's proprietary and fraud resistant Consolidated Payment Platform (CPG) solves fund disbursement and payment challenges by giving the user the ability to transfer money, disburse funds or make ACH payments from: corporations, member organizations, governmental and nongovernmental organizations, institutions, faith-based organizations, network marketing companies, unions and administrators of various types of financial aid and entitlement programs such as food stamps, healthcare benefits and academic related payments that need to reach "banked" or "non-banked" individuals, businesses, organizations or government agencies in any World Financial Task Force or OFAC compliant country.
Branded as MoneyTrac™, the CPG platform provides businesses, organizations and government agencies (and their cardholders or account holders) the ability to manage and monitor payments to and from "non-bank" accounts and eWallets online, and through a variety of prepaid debit card solutions issued via most major card issuers, as well as other customizable payment solutions. MoneyTrac™ payment solutions enable these establishments to make payments to their cardholders or accountholders with or without bank accounts, allowing both to possess and distribute funds in almost any country for payroll purposes, vendor payments, rebates and expense reimbursement and daily spending purposes while also providing seamless foreign currency exchange when/where applicable. Global Payout is also capable of including in these electronic payment platforms the ability to reload cards and/or transfer money to bank accounts, credit cards and debit cards worldwide. The CPG platform is a permission based API (application programming interface) and will also include mobile app capability in the near future.
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.