Global Payout, Inc. To Provide Its Global Reserve Platform to VAT Recovery Leader: Companies Trade & Service LTD, Through Execution of Customized Licensing Agreement
SAN DIEGO, CA--(Marketwired - Jun 6, 2017) - Global Payout, Inc. (OTC PINK: GOHE) (the "Company") is pleased to announce it has finalized a Customized Licensing Agreement (the "agreement") for the use and exclusive white labeling of its Global Reserve Platform with Companies Trade & Service LTD ("CTS"), a London based VAT recovery and FOREX processing service provider.
With this agreement, the Company will white label the Fintech solutions available within its Global Reserve Platform to provide CTS with an integrated software solution. This software will give CTS an opportunity to more effectively process and manage business-to-business related VAT recoveries, as well as FOREX processing for the SME's and global companies they service worldwide.
The Company contends that this agreement is an important first step into the growing arena of VAT recovery. A multitude of global enterprises are actively seeking Fintech solution services to gain better control over what is often a complex process that requires a major investment of time and resources, and can also contribute to lost revenue when not managed properly.
"We are very excited to have executed this licensing agreement with Companies Trade & Service," said Global Payout President, William Rochfort. "Both our companies recognize the growing need in our global economy for improved processes to more effectively manage the myriad of challenges that are associated with VAT recovery. The integration of our Global Reserve Platform with the existing processes CTS utilizes for VAT recovery will fortify the back-end of this process for them and thereby maximize their ability to issue recoveries back to their clients more efficiently than ever before," Mr. Rochfort remarked further.
The Company will remain focused on exploring additional ventures and opportunities in the VAT recovery sector. The Company contends that its Global Reserve Platform can be effectively leveraged towards streamlining the VAT recovery process through the proprietary payment solutions the platform offers.
About Global Payout, Inc.
Since the Company's inception in 2009, Global Payout, Inc., www.globalpayout.com, has been a leading provider of comprehensive and customized prepaid payment solutions for domestic and international organizations distributing money worldwide. In 2014, Global 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, for both online and mobile applications to allow account holders to maximize an expanded suite of financial services and minimize operational costs. Global will continue to offer their 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.
Forward-Looking Statements: 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.
