Technology Development Agreement supported by an International Patent Portfolio, Including 7 U.S. Patents, Will Enhance Xalles Operating Subsidiaries to Grow Revenues and Scale Globally
Xalles Holdings Inc., a fintech holding company providing technology and financial services solutions, has acquired a non-exclusive, worldwide right to a unique suite of technology from Xped Holdings Pty. Ltd of Adelaide, Australia, and its U.S. affiliate Xpeditum LLC (collectively “Xped”).
Developed over 10 years of research and development, Xped’s new “Simplify Platform,” supports near-field communication (NFC) virtual cards and mobile wallets across multiple currencies and cryptocurrencies for merchant and consumer payments.
“Having delivered payment technology to hundreds of millions of consumers globally, Xped Holdings looks forward to integrating our mobile and NFC centric technology across multiple businesses within the Xalles Holdings portfolio,” said Keith Benson, CEO of Xped Holdings. “The full platform is expected to be commercially deployable on a global scale by the end of 2021. We’re excited to see how the technology will enhance the capabilities for Xalles’ subsidiaries,” stated Benson.
Xalles operating subsidiaries will benefit directly from the licensing agreement with Xped:
- Argus Technology Partners will integrate the payment platform into its recently announced e-commerce platform.
- Vigor Crypto Holdings can transfer and hold multiple currencies including cryptocurrencies among external cryptocurrency traders.
- Global Savings Network will be rolled out with a fully electronic merchant discount and couponing program that benefits local merchants and non-profit organizations.
- 1Rivet will look to enable their eGovernment services platform with the new Xalles payment platform.
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Xalles Limited, the original Xalles Holdings subsidiary, will use the new platform as the backbone for its new version of X2X, a financial transaction reconciliation system. One of the applications of X2X is supporting the post payment auditing services to support multiple vertical markets.
“This is the most significant technology acquisition in the company’s history,” stated Thomas Nash, CEO, Xalles Holdings. He continued, “Most of the Xalles operating entities will be able to take advantage of this unique platform by customizing it for their own applications and in some cases, will enable rapid deployment and enhanced revenue growth. We are excited to get the integration and implementation projects underway.”
