In the world today, there are approximately 2.5 billion people who are “un-banked”, according to FICO. FICO defines an “un-banked” population as people who rarely, if ever, hold a transaction account, including checking and savings, at a depository institute. The World Bank lists consumer financial illiteracy and lack of consumer access to financial institutions as the main factors that limit accessibility to such services. On the whole, this global business-to-business market space is estimated to be $3 trillion.
San Diego-based Global Payout stands out in this large market through its proprietary Consolidated Payment Gateway, which offers global customers a secure, easier-to-use, and lower-cost fund disbursement or payment experience than those offered by competitors. Global Payout also extends many other customizable payment solutions to its global clientele, including domestic pre-paid cards, chip and pin pre-paid cards, custom and co-branded pre-paid cards, international pre-paid cards, merchant processing, and mobile payment apps. Global Payout’s prepaid debit card solutions are issued through most major card issuers, such as Mastercard®.
Global Payout’s electronic payment solutions enable the company’s customers to distribute funds, pay employees or organizations even if they do not have a transaction account, use Global Payout’s services for payroll purposes, deploy vendor payments, issue rebates, and enjoy the benefit of a prepaid solution. The company’s payment solutions can be tailored to the unique needs of a range of global clientele. These include: 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, healthcare benefits and academic related payments that need to reach “banked” or “un-banked” individuals, businesses, and organizations or government agencies in any World Financial Task Force-compliant or OFAC-compliant country. These payment solutions also meet quality standards for fraud resistance and security compliance.
Global Payout has said 2014 may be its breakout year. At present, the company has clientele in the United States, the European Union, China, and Malaysia. It is also building up a client base in South America. However, in 2014 Global Payout already has achieved several significant developments, including the signing of several new client contracts. Some highlights are:
• Extending global reach and functional attractiveness of Global Payout’s proprietary payment platform to customers in an additional 105 countries
• Signing a business agreement with Payment Processing Alliance, which gives Global Payout access to Payment Processing Alliance’s broad portfolio of 200+ client companies across many industries
• Inking a client contract with ADB Private Limited for providing recurring payroll disbursements to its 5,000+ employees
• Rolling out an aggressive chip and pin technology program in Europe through company subsidiary Global Funding Ltd.
• Extending payment solutions accessibility to Philippines, where many companies hire out virtual-based independent contractors
In many of these developments, Global Payout has said there is much room for even more contracts being inked.
For more information about Global Payout, visit: www.globalpayout.com
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