Xalles and Xped Execute New Payment System Licensing Agreement to Support Global Savings Network

Rhea-AI Summary

Xalles Holdings Inc. (OTC: XALL) has partnered with Xped Holdings to customize the Shomei Payment Platform for its subsidiary, Global Savings Network Inc. (GSN). This collaboration aims to launch a new payment solution that facilitates real-time payments for local not-for-profit organizations. Consumers will benefit from mobile in-store payments offering discounts and cashback. The GSN platform is set to relaunch by October 2022, enhancing user experience by integrating NFC virtual cards and supporting cryptocurrency transactions.

Positive

• New licensing agreement with Xped Holdings for Shomei Payment Platform.
• GSN will enhance consumer experience with mobile payments and cashback.
• Integration of cryptocurrency payments expected to attract diverse users.
• Planned relaunch of GSN platform by October 2022 for extensive merchant network.

Negative

• None.

Global Savings Network will relaunch in 2022 taking advantage of the Shomei Payment Platform to support real time local and international payments

WASHINGTON, DC, May 16, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, has executed a new licensing agreement with Xped Holdings Pty. Ltd. (“Xped”) of Adelaide, Australia, for its Shomei Payment Platform (“Shomei”). 

Global Savings Network Inc. (“GSN”), a wholly owned subsidiary of Xalles Financial Services Inc., will customize the Shomei real-time payment platform to create a new payment solution. The GSN business model is to support local not-for-profit organizations through passive fundraising. The Shomei-based GSN system will enable GSN consumers to make mobile payments in-store, which will give the consumers discounts at the merchants plus cash back on their purchases. The system will also provide the merchant with real time payments as well as the not-for-profit organization will also receive their calculated fundraising payments as a percentage of the purchase total in real time.

“Our team will be working closely with the GSN team to deliver near-field communication (NFC) virtual cards and mobile wallets across multiple currencies,” said Keith Benson, CEO of Xped Holdings. He continued, “The system, supported by multiple technology patents, will also enable consumers to pay for goods and services using cryptocurrencies.” 
“The new Shomei-based GSN system will enable seamless payments to all parties in our financial service ecosystem, including the consumers, merchants and not-for-profit organizations. Secure, real time and simple is our objective by acquiring this technology,” stated Terry Mowery, President, Global Savings Network Inc. 

GSN will upgrade its technology platform and re-launch to its extensive merchant and consumer network using the Shomei-based GSN system by October of 2022.

About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holding company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets in which it can invest and accelerate growth, targeting companies with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities. The company places emphasis on leveraging blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which, over time, will allow for the capture of recurring revenue streams. For more information visit: http://xalles.com

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Investor Relations Contact:
info@xalles.com
www.xalles.com
202.595.1299 Office

FAQ

What is the purpose of the new licensing agreement between Xalles and Xped Holdings?

The agreement aims to customize the Shomei Payment Platform for Global Savings Network to support real-time payments.

When is the relaunch of the Global Savings Network expected?

The relaunch is planned for October 2022.

How will consumers benefit from the new GSN platform?

Consumers will enjoy discounts, cashback on purchases, and the ability to make mobile payments.

What type of payments will the GSN platform support?

The platform will support real-time payments, mobile payments, and cryptocurrency transactions.

What are the goals of Xalles in terms of fintech investments?

Xalles focuses on investing in disruptive fintech companies with strong management and lucrative growth opportunities.