Global Payout, a management consultant services company and program manager offering companies electronic payment and prepaid card solutions, today announced it has formed a joint venture with UK-based CCS Prepay, a business-to-business electronic payment services provider, for more strategic targeting of international markets.
The joint venture pools both companies' international prepaid debit card products and resources together in order to fulfill specialized client needs more comprehensively and satisfactorily. In mid-November 2013, the companies had formed a product-sharing agreement on an EMV (EuroPay, Visa MasterCard Smart Card) Visa International Prepaid Debit Card, which had been developed with a partner bank in Europe. By the year-end of 2013, there will be additional joint ventures between the companies on three more EMV Visa and MasterCard cards, of which will be a global-scale GPR (General Purpose Reloadable) Card for retail use.
"The prepaid products offered by Global Payout and CSS Prepay are complementary in many respects but are sometimes different in geographic restrictions and application uses. We feel it is better for both companies to share new revenue streams in competitive situations than to leave clients without best solutions for their requirements. With this new alliance strategy, we intend for all parties, including our new clients, to be winners," says James L. Hancock, CEO of Global Payout.
Mark McDonald, Managing Director of CCS Prepay added, "Both of our companies were early developers of international prepaid debit cards. Today the market is rapidly maturing, not only in geographic diversity of deployment of these products but also in the requisite variety of applications. By joining forces in this fashion, we are better positioned to capture the window of opportunity and enhance our collective market share."
For more information on Global Payout, visit: globalpayout.com
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