San Diego, May 7, 2014 (GLOBE NEWSWIRE) -- Global Payout, Inc. (OTC Pink: GOHE), the leading new multi-national Program Manager of B2B custom and conventional electronic payment solutions, announced today that it has signed a contract with ADB Private Limited, a wholly owned subsidiary Mater Holding Group, to use Global Payout's proprietary MoneyTrac™ Consolidated Payment Gateway (CPG) and co-branded prepaid debit cards. ADB has contracted the use of the CPG and MoneyTrac™ debit card as their preferred method to make recurring biweekly payroll payments. The CPG is a revolutionary payment platform that facilitates easy and economical access to payroll disbursements, money transfers, cash access and account management for its customers and their constituent cardholders and is designed to make payroll disbursements cheaper for the user, and simpler and more convenient for the payment recipient. The contract calls for the immediate purchase of 5,300 co-branded, prepaid debit cards. Once the CPG is activated, the constituent cardholders, e.g. employees, will receive instant access to their payroll earnings on a prepaid debit card due to the capabilities of the CPG. The co-branded, prepaid debit cards will provide instant access to employee wages and function like any other debit card by allowing the employee/recipient to make online purchases, ATM withdrawals, money transfers and general spending purchases at retail locations. The average disbursement is estimated to be 700 Euros every 2 weeks for all 5,300 employees. Global Payout sees substantial revenue generated from this contract while providing substantial payroll savings costs to ADB Private.
"This is a very significant contract for Global Payout," said William Rochfort, President of Global Payout, Inc. "And it proves the viability of our Consolidated Payment Gateway self-directed payments platform in a multinational, multi-currency setting. We are looking forward to working with ADB Private Limited to facilitate their payout requirements, and we anticipate additional international opportunities based upon their growth for 2015 and 2016 and their ownership of and affiliations with numerous other companies. They have had tremendous success in building their business through major contracts awarded from the Italian federal government and developing outsourced business services for entrepreneurs and startups, significant markets where we can add value," he added.
ADB Private and Global Payout have also agreed to pursue additional contracts. Because ADB Private Limited is the servicing and administrative organization for all the subsidiaries and clients of Mater Holding Group, Global Payout is now in a unique position to provide MoneyTrac™ Consolidated Payment Gateway and prepaid debit cards to all of Mater Holding Group's affiliates and clients. ADB Private is currently supporting customers in 31 countries with a heavy concentration of clients in Western Europe.
"Our employees and clients will be extremely pleased to access and manage their earnings with the added options to deposit to their bank, a prepaid card, or credit card" says Antonio Delfino, Executive Director of ADB Private Limited. "With Global Payout as a business partner, we can offer payroll services as a part of our existing portfolio for timely and secure payments."
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 MoneyTracTM, 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. MoneyTracTM 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.
CONTACT: Global Payout, Inc. Investor Relations IR@GlobalPayout.com 1-800-594-4350 Source:Global Payout, Inc.