Global Payout, Inc., a prepaid card program manager and domestic and international payment gateway solutions provider, announced that it has received approval to launch what it says is the first prepaid MasterCard card with chip-and-PIN technology from North International Bank, LTD (NIB).
Global Payout is also announcing the immediate availability of this new chip-and-PIN card together with, or without, its Consolidated Payment Gateway platform in all compliant countries in North America, South America, Central America, the Pacific Rim, and the Caribbean effective immediately.
According to the company, this new prepaid MasterCard debit card program is based upon the EMV standard.
“NIB believes this new development on NIB payment tools provides a more secure and universal payment methodology. The partnership with Global Payout and MasterCard helped us launch this product in record time,” said Angel Pacheco, NIB’s VP of Business Development.
The new prepaid MasterCard and two other debit cards can be used in connection with Global Payout’s proprietary MoneyTrac Consolidated Payment Gateway platform to lower payment costs, eliminate check usage and make payouts and receive payins for vast array circumstances including: payroll, member payments, vendor payments, overseas foreign workers, cruise lines, and many other efficiency and expense-lowering purposes.