Global Payout, a payments solution provider, has received approval to launch new Prepaid MasterCard card enabled with chip and pin technology from North International Bank (NIB).
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The new chip and pin card, based upon EMV standard, will be available with immediate effect in all Office of Foreign Assets Control (OFAC) compliant countries in North America, South America, Central America, the Pacific Rim, and the Caribbean.
Global Payout will enable the use of the new Prepaid MasterCard in connection with its proprietary MoneyTrac CPG platform to lower payment costs, eliminate check usage and carry out payouts and payins for payroll, member payments, vendor payments, overseas foreign workers, cruise lines, and many other expense lowering purposes.
NIB VP of business development Angel Pacheco said: "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."
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