Global Payout Establishes Company In the United Kingdom For Adoption of EMV
SAN DIEGO, Feb. 20, 2013
SAN DIEGO, Feb. 20, 2013 /PRNewswire/ -- Global Payout, Inc. (OTC Pink: GOHE)
has formed a registered company in the United Kingdom, Global Funding Ltd., to
become Program Manager of prepaid cards in the European region. Global Funding
Ltd., formed in August 2012, has contracted with an issuing bank and stored
value processor to issue a prepaid MasterCard®to European residents who
require EMV ("Chip and Pin") technology for use in the Euro region. EMV stands
for Europay, MasterCard and Visa®, a global standard for inter-operation of
integrated circuit cards (IC cards or "chip cards"), capable of acceptance at
point of sale terminals and automated teller machines (ATMs) for
authenticating credit and debit card transactions. The EMV technology ensures
additional security and eliminates potential fraud and illegal card usage.
Global Funding Ltd. will be launching their first prepaid card product in
March 2013 to accommodate their European business clients requiring "chip and
pin" prepaid cards.
Presently, in the United States, EMV technology for prepaid, debit and credit
cards is not available. The existing technology in the United States is the
magnetic stripe on the back of the cards that is accepted at POS terminals and
ATM machines, nationwide.
"Global Payout's expansion to the European Region illustrates our commitment
to a more comprehensive offering for our international clients", says Jim
Hancock, Chief Executive Officer, Global Payout, Inc., "Our presence in the
United Kingdom opens up many revenue opportunities for us in 2013".
About Global Payout, Inc.
Global Payout, Inc., www.globalpayout.com, headquartered in San Diego,
California, is a management consultant services company and program manager
offering companies electronic payment and prepaid card solutions.Global has a
product line of prepaid products that can be utilized off the shelf or the
company can customize payment solutions for qualified businesses. Through
Global Payout's processors and solution providers, the company offers both
international and domestic payment solutions. The company provides for U.S.
and international prepaid cards allowing account holders without bank accounts
to access funds worldwide. As program manager, reseller and consultant, Global
is a provider of prepaid cards in the U.S. for payroll and general spend
programs. In addition, Global offers an electronic payment platform that will
allow transfer of money to bank accounts and remittance locations, worldwide.
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.
Equiti-trend Advisors, LLC
SOURCE Global Payout, Inc.
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