Enhanced Investments - Financial Portal

XXImo becomes one of the first Visa card issuers in the EU to process payments entirely through the AWS Cloud, as it scales up its services to help customers meet new regulatory requirements

Published: 2023-11-29 09:37:00 ET

UTRECHT, Netherlands, Nov. 29, 2023 /PRNewswire/ -- XXImo, the corporate mobility payments platform, today announced that it is going all-in on Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), and will become one of the first EU Visa card issuers to process payments entirely through the AWS Cloud, in the first quarter of 2024. Processing payments through AWS Payment Cryptography and Visa Cloud Connect will enable XXImo to optimize operational expenses and scale its business to help make flexible mobility payments accessible to corporate employers and resellers across Europe.

Processing its payments entirely through AWS will help XXImo scale and optimize its platform requirements and will give it the infrastructure to rapidly expand its business throughout Europe. As a licensed Payment and Electronic Money Institution (EMI), XXImo offers mobility payment cards with compliant payment processing directly to corporations, and as white-label solutions to resellers in the fuel, parking, charging, fleet management and leasing space. XXlmo projects that the demand for these compliant services will drive significant growth over the next two years.

XXImo supports modern mobility policies and provides its customers with detailed analysis of their employees' mobility footprint, enabling them to meet requirements for reporting carbon emissions from their businesses. With XXImo cards accepted over the entire mobility network, including air travel, hotels, all forms of public transport, car hire, bike and scooter sharing and fuel, customers can give their employees more options for how they travel while measuring and managing their environmental impact.

XXImo is responding to the growing demand driven by sustainability reporting and regulations by going all-in on AWS, closing its data centers and migrating all operations to AWS. This will help ensure continuity, security and scalability for its payment processing platform. Implementing a cloud-native strategy with AWS will also enable XXImo to expand the scope of its research and development with Amazon Bedrock and Amazon SageMaker, exploring how generative artificial intelligence (generative AI) can improve the experience of managing mobility for customers and their employees, while using machine learning to add new layers of analysis to its reporting.

"Going all-in on AWS and processing payments in the cloud will transform our business, providing a powerful new foundation for growth and innovation," said XXImo's Chief Technology Officer, Zaheer Sacranie. "This is an investment in the future of XXImo that we believe is already delivering strong returns."

"XXImo's commitment to innovation and enabling sustainability for its customers aligns perfectly with AWS's own values," said Tanuja Randery, managing director of AWS Europe, Middle East, and Africa. "This opens up exciting potential synergies between the two businesses going forward, and we're looking forward to seeing where XXImo's innovative use of the cloud will take it next."

About XXImoXXImo, the all-in-one mobility management platform for corporations and resellers, was founded in 2011 and is part of AutoBinck Group – a Dutch family business that has grown into a key player in the European mobility market. XXImo has offices in the Netherlands, Belgium, Germany, the UK, Ireland, and France. Learn more at xximo.com

About AmazonAmazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Since 2006, Amazon Web Services has been the world's most comprehensive and broadly adopted cloud. For more information, visit amazon.com/about and follow @AmazonNews.

Photo - https://mma.prnewswire.com/media/2287466/XXlmo_1.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/xximo-becomes-one-of-the-first-visa-card-issuers-in-the-eu-to-process-payments-entirely-through-the-aws-cloud-as-it-scales-up-its-services-to-help-customers-meet-new-regulatory-requirements-302000445.html

SOURCE XXImo

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.