Xalles and Xped implement new payment system licensing agreement

By Leandra Monteiro

Xalles Holdings Inc, a FinTech holding company providing technology and financial services solutions, has executed a new licensing agreement with Xped Holdings Pty. Ltd. of Adelaide, Australia, for its Shomei Payment Platform.

Global Savings Network Inc. (GSN), a wholly-owned subsidiary of Xalles Financial Services Inc., will customise 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 cashback on their purchases. The system will also provide the merchant with real-time payments as well as the not-for-profit organisation 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. “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.