SAN DIEGO, CA--(Marketwired - Aug 14, 2017) - Global Payout, Inc. (
The finalization of this agreement comes on the heels of the Letter of Intent that was executed between the companies on May 1, 2017. Under the LOI, Global Payout and Cagney entered into advanced phases of planning the integration of the Global Reserve Platform into the existing processes and software currently utilized by Cagney for its logistics supply chain.
"Our technical team has been diligently working to address the specific needs and requests that have been presented to us by Cagney," says Global Payout President William Rochfort. "In this time, we have developed a more in-depth understanding as to how the intricate components available in our Global Reserve Platform can be configured to deliver a platform for Cagney that will completely enhance the logistics supply chain process experience for its customers and delivery partners."
Global Payout expects that the finalization of this Licensing Agreement will provide the Company with a revenue stream as early as the beginning of the third quarter of 2017. For Cagney, the agreement will enable improved payment and supply chain efficiency.
"The Global Reserve Platform provides Cagney Global Logistics, our e-commerce customers, and 'Final Mile' delivery partners anywhere in the United States, a true market differentiator streamlining payment solutions and pipeline visibility. Home and office web sale deliveries for the exploding 'e-tailer' marketplace is by far the hottest space in logistics today," said Tom Cagney, founder and CEO. "Customer success is our goal, and Global Payout has provided us with a truly unique solution to speed delivery, payment options and cloud based control tower visibility."
Global Payout and Cagney will collaborate on the integration of the Global Reserve Platform with the intent to roll-out a test launch in key markets in the coming weeks.
About Global Payout, Inc.
Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions for domestic and international organizations distributing money worldwide. In 2014, Global Payout introduced its first online payment platform, called the Consolidated Payment Gateway (CPG), which allowed its enterprise clients to transfer money to international bank accounts, mobile accounts, and prepaid card accounts. The development of the CPG became the foundation for the introduction of its new, state-of-the-art FINTECH payment system in 2017, designed for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs. Global Payout will continue to offer its FINTECH payment system to many vertical markets for support of foreign currency exchange and digital currency, including ongoing support of the banking industry and international governments.
For more information, visit www.GlobalPayout.com
About Cagney Global Logistics
Cagney Global Logistics is a supply chain solutions provider specializing in full-service, client-specific "gain sharing" programs. The Company brings transportation intelligence to businesses, using customized solutions, giving them meaningful and measurable advantages. For over 28 years, Cagney Global Logistics has been a leader in global logistics, warehousing, distribution, local delivery, residential delivery, storage, reverse logistics, less than truck load (LTL) and full truck load. Cagney Global Logistics dedication to teamwork, technological advancement and customer satisfaction has made the success of their customers the basis of their own success.
Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "to," "plan," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue," or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.