San Diego, Oct. 7, 2014 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), an emerging leader in payment solutions, announced today its strategy to capitalize on the existing business and expansion potential of Maxie Mobile, Inc., a mobile financial services technology provider focused on underserved markets in the United States and globally, which was recently acquired by the Company in a stock-for-stock transaction.
The acquisition of Maxie Mobile signals Global Payout's entry into the expanding financial technology sector. Within the financial technology sector, mobile and payment technologies, like those offered by Maxie Mobile, are the segments expected to experience the most explosive growth in the coming years.
Maxie Mobile, Inc. was formed to provide mobile financial services to the estimated 68 million unbanked, under-banked and unhappily banked consumers in the United States and the estimated 2.5 billion worldwide. There are rising numbers of consumers who prefer managing their spending outside of traditional banking and credit relations. Globally, there are an estimated 6.6 billion mobile phones in use, while only 2 billion adults have bank accounts. This leaves a large unbanked population who use mobile phones and can be targeted for mobile financial services including bill payment, payroll deposits, cross border remittances, check cashing, prepaid phone top up, and free long distance calling. With integrated prepaid cards, functionality is expanded to include the ability to purchase products online or at retail locations as well as access cash at ATMs worldwide.
Maxie Mobile has existing customers in the telecommunications and hotel and gaming industries that use the Maxie Mobile app to deliver financial services, including payroll, for both unbanked and banked workers. As a universal financial solution on a mobile platform, Maxie Mobile expects to expand its current U.S. customer base and into additional international markets. The global remittance market alone is projected to reach $681 billion for 2016, and with a growing number of workers in foreign countries needing to send money back to their families at home, the Maxie Mobile app represents a more convenient and less expensive alternative to traditional remittance providers. Additional markets for Maxie Mobile include college students who are away from home and need to receive money from parents, pay their living expenses and have a means to spend money to buy food and other necessities with their debit cards.
The integration of Maxie Mobile into Global Payout provides the opportunity to expand the card options currently associated with the Maxie Mobile app to include Global Payout's international card offerings. The Maxie Mobile app works on all mobile platforms and with all carriers.
"Given its existing customer base, additional opportunities in vertical markets, and its position as a proven mobile financial services technology, the acquisition of Maxie Mobile is a transformative event for Global Payout," said Jim Hancock, CEO of Global Payout, Inc. "The Maxie Mobile app is the first financial technology that the Company owns and signals our entry into the FinTech industry. Market response to the app has been extremely positive with existing customers seeking to expand their use of Maxie Mobile. With greater functionality being added to the app in the coming weeks, we anticipate even more interest from companies and consumers in both domestic and international markets."
About Global Payout, Inc.
Global Payout, Inc. (www.globalpayout.com) is an emerging leader in the financial technology sector serving the needs of the world's mobile population. With the acquisition of Maxie Mobile, a comprehensive, cloud based payment solution platform built for mobile phones, tablets and computers, the Company is positioned to meet the needs of the estimated billions of unbanked, under-banked and unhappily banked consumers worldwide. The Maxie Mobile app, which operates on all major mobile phone platforms and with all major carriers, gives users secure access to services including bill payment, payroll deposits, cross border remittances, check cashing, prepaid phone top up, and free long distance calling. With an integrated prepaid card, users can purchase products online or at retail locations as well as access cash at ATMs worldwide.
Shareholders who would like to receive email notifications when new information, including press releases, investor newsletters, SEC filings or other information, is disclosed by the Company, are asked to send their names and email addresses to investors@globalpayout.com. Those interested in following the progress of the Company can also engage with @GlobalPayout on Twitter.
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.