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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