The move will solidify Global Payout’s position as a key provider of financial services to the 2.5 billion un-banked and under-banked adults in the world and will complement and extend Global Payout’s existing MoneyTracTM Consolidated Payment Gateway and international EMV debit card programs.
EMV stands for Europay, MasterCard and Visa, a global standard for inter-operation of integrated circuit cards (IC cards or "chip cards") and IC card capable point of sale (POS) terminals and automated teller machines (ATMs), for authenticating credit and debit card transactions.
Once completed, the acquisition will immediately provide the un-banked and under-served populations of the world with a cost effective means of accessing their money, paying bills, topping up prepaid phones and cashing checks using the Maxie Mobile financial services application.
Maxie Mobile’s mobile payment application is given away for free and operates on any mobile smartphone including Android, Apple, Blackberry and Windows based phones.
From their phones, users are able to pay bills, cash their checks, top-up a prepaid phone, send money to 120 countries, make free long distance calls and all users receive a virtual and prepaid debit card enabling on-line and retail purchasing and instant access to ATMs.
If the acquisition is completed as planned, Maxie Mobile is expected to attract many new customers, and generate substantial revenue. The acquisition is scheduled to close within the next 30 days.
