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SOURCE Global Payout, Inc.
Global Payout Announces the Launch of First VISA® General Purpose Reloadable Debit Card Internationally With No KYC Requirements
SAN DIEGO, Feb. 18, 2014 /PRNewswire/ -- Global Payout, Inc. (OTC Pink: GOHE), a B2B purveyor of alternative and custom electronic payment solutions, announced today the launch and immediate availability of a General Purpose Reloadable (GPR) "instant issue" VISA® International prepaid debit card that does not require KYC (Know Your Customer) information. The new, fully compliant debit card offering is unlike any prepaid card currently available internationally. Employers and businesses typically encumbered by the process of gathering account information from employees and payees are now able to simply issue payments on a debit card, without having to gather detailed account information from the recipient. The prepaid debit card is fully functional allowing for: ATM withdrawals for cash, corporate reimbursement of expenses, independent contractor compensation, retail purchases, domestic and international travel expenditures, on-line purchases, bill payment, general purpose spending, gift cards, loyalty and reward capabilities, affinity programs, incentive redemption, and expense vouchers. Possessing chip and pin (EMV) and magnetic stripe functionality, the newly available card can be loaded with up to $3,300 and can be used to withdraw up to $160 per day from an ATM. The card is also equipped for Near Field Communications (NFC) providing the user with a "Tap and Pay" capability at many transit systems worldwide, as well as many merchant locations such as 7/11 and McDonalds.
Because Know Your Customer (KYC) information is not required for this "bearer" card at the time of issuance and card activation, the card provides incredible ease of use to payment issuers, employers and vendors seeking to make payments while rendering the cardholder anonymous and the cardholder's sensitive information unobtainable by hackers through security breach. Global Payout believes the easy issuance of these non-personalized cards will attract a wide range of businesses and payers from around the world. Global Payout can also distribute cards for travel and special events such as The World Cup in Brazil, incentive campaigns for employees or customers, or and a wide range of other marketing and loyalty campaigns. Global Payout anticipates the sale of 50,000 active cards in the next six months and 100,000 cards by the end of calendar year 2014 from new and existing customers.
This new prepaid card can be issued in most countries (not sanctioned by the World Financial Task Force or OFAC). Each card has its own bank account so the cardholder can subsequently re-load the card through online transfer from their own bank account or wire funds directly to the card account. For initial or subsequent corporate loads, the cards can be loaded either through a batch process or an API, integrated with a company's software and accounting technology.
From a corporate customer's perspective, as it relates to marketing and co-branding efforts, Global Payout will allow companies to include their proprietary logos, subject to network approvals.
"Instant issue and non-personalized prepaid cards here in the U.S. have been marketed, sold and cash loaded at major retailers for the last 15 years," says Bill Rochfort, President, of Global Payout, Inc., "However, we have never seen anonymous prepaid cards being distributed internationally and this results in a huge opportunity for Global Payout to aggressively acquire new accounts and significant revenue."
The VISA instant issue GPR debit card product is made possible through one of Global Payout's existing joint partnerships and a European based bank.
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 multinational 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).
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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