San Diego, March 2, 2015 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), a leading provider of international electronic payment solutions, announced today the ability of its Consolidated Payment Gateway (CPG) platform technology to make payouts for virtual currency and crypto currency exchange companies. Now, companies that exchange virtual currency such as Bitcoin, LiteCoin and Ripple, can now give their clients the ability to receive payouts through the CPG to MoneyTrac® Prepaid Discover® Cards for US residents, or to Prepaid MasterCards® for international residents. The system is available for use now.
"We are seeing a growing diversity of needs from potential customers who want to utilize our open loop and closed loop payment system capabilities across a growing list of new and unique opportunities," said Jim Hancock, CEO of Global Payout, Inc. "And payouts for virtual currency platforms and virtual currency exchange companies are just a few. Our Consolidated Payment Gateway in combination with our prepaid debit card options is a speedy and simple way to make low cost payouts. And interest is growing for these customized applications as we have developed the technical capabilities that can answer these new demands. The coming weeks should prove to be an exciting time for our company," he added.
With 6 billion prepaid card transactions in the United States in 2009 alone, and valued at more than $140 billion, the U.S. prepaid card transactions, are growing substantially faster than transactions on debit and credit cards according to a Federal Reserve System Study. With approximately 10% current market penetration, some industry growth rates have been recently estimated at 42%. The growth is generally attributable to four primary usage patterns including; 1) An alternative to a checking account; 2) A tool to give your child their allowance; 3) An alternative check cashing tool and 4.) To provide access to electronic transactions. Another key driver is coming from the card program managers that provide innovative tools to facilitate use and create new opportunities. As a result, management sees a huge and growing opportunity to provide many new solutions in eCommerce, payroll, payouts, revenue recognition or categorized spending, closed loop payment, payment gateway services, and currency conversion platforms to a growing list of businesses and consumer categories.
About Global Payout, Inc.
Global Payout, Inc. (www.globalpayout.com) is a leading provider of comprehensive, customized electronic payment solutions for domestic, international and multinational businesses, organizations and government agencies worldwide. Global Payout implements payment solutions tailored to a client's specific needs, which may include MoneyTracTM, the company's Consolidated Payment Platform (CPG), domestic and international prepaid cards, chip and pin cards, custom and co-branded prepaid cards, and merchant processing services. The company targets an estimated $3 trillion market including the estimated 60-70 million unbanked and under-banked adults in the U.S. and the estimated 2.5 billion unbanked and under-banked adults around the world.
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Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.