IRVINE, Calif.--(BUSINESS WIRE)--General Payment Systems, Inc. (Pink sheets: GPSI) announced today that it has sold substantially all of its assets related to its correction payments business to TouchPay Holdings, LLC, an affiliate of Global Tel*Link Corporation. Proceeds of the sale were used to retire and restructure various debt obligations of the company. With the sale of these assets, GPSI will now focus on providing high volume payment automation solutions to courts, municipalities and other government agencies mandated with the responsibility of collecting payments from the public.