Global Payout, a new multi-national program manager of B2B custom and conventional electronic payment solutions, is working toward fulfillment of its mission to provide access to the world’s under-banked and unbaked adult population by expanding its international prepaid card capability outside of Europe and the United States.
“Our goal is to build the world’s largest and most trustworthy money transfer mechanism in the world,” Jim Hancock, CEO of Global Payout stated in the news release. “We aim to connect business, government and organizations to the people they are making payments to wherever they may be and do it cheaper, faster and safer than anyone else. This is how we intend to make financial inclusion a reality and reach the 2.5 billion under-banked adults of the world. And by doing so, we will have meaningful participation in a $3 trillion market.”
The new international prepaid cards will be integrated with Global Payout’s proprietary Consolidated Payment Gateway (CPG) financial payments tool, which enables businesses, organizations, and government agencies to distribute money to their payment receiving constituents. The constituent can then utilize CPG and Global Payout’s MoneyTrac™ prepaid cards to manage, spend, and/or transfer money simpler, cheaper, and more efficiently than traditional bank accounts.
Global Payout is leveraging its newest financial institution, a MasterCard Worldwide Principal Member, and its latest card processor partnership that provides processing and distribution redundancies to ensure operational functionality and the timely and secure delivery of MoneyTrac prepaid cards. The addition of this new international prepaid card to the CPG platform extends reach into new and existing countries while giving multi-national companies a solution for their members or employees to access and distribute payments or cash.
The expanded functionalities of bank and processor will allow Global Payout’s MoneyTrac accountholders to receive prepaid cards, manage and distribute money, receive multicurrency cards both in dollars and euros, as well as to make payments to bank accounts and credit cards worldwide.
Global Payout’s aims to develop payment programs that can reach regions anywhere in the world that are OFAC compliant with the MoneyTrac CPG. Global Payout is also adding account opening and verification software that will scan and submit through a camera phone credentials such as driver licenses, Passports, and other government-issued identification documents needed to establish accounts.
For more information, visit www.globalpayout.com
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