NEW YORK Luxoft Holding, Inc (NYSE:LXFT), a leading provider of software development services and innovative IT solutions to a global client base, today announced the launch of the first industry solution integrating financial services software, a peer-to-peer payment technology, into the connected car. The functionality of the Paymit platform from SIX Payment Services will be demonstrated with the Rinspeed “Σtos” concept car at the Geneva Motor Show in Geneva, Switzerland.
Luxoft has used this innovative payment technology, originally built for the financial services segment, and brought it into the autonomous vehicle enabling a monetization platform for IoT use cases. The underlying peer-to-peer payment solution, which has been seamlessly integrated into the vehicle’s infotainment system allows drivers to make purchases and perform routine financial transactions, in real time, both inside and outside the vehicle. This collaboration is at the forefront of such innovative change and is demonstrating the convergence of adjacent vertical technologies. This shows just how digitization is playing an increasing role in the automotive and the financial services industries.
“Rinspeed continues to be at the forefront of embracing innovative technologies within the autonomous vehicle,” said Frank M. Rinderknecht, Founder and CEO of Rinspeed, Inc. “The introduction of this new feature within ‘Σtos’ demonstrates the importance of cross-industry collaboration. The work we have engaged in alongside of Luxoft and SIX Payments Services have created many real world use cases around the driver’s ability to simply make a ‘payment’ while never actually leaving or in some cases, even stopping the vehicle. We look forward to continuing our work together, also embracing other technologies that are not specifically designed for this industry, in order to continue to enhance the driver experience.”
To learn more about Rinspeed’s autonomous vehicle and this newly launched feature, visit the Rinspeed Booth #6240 at the Geneva Motor Show, March 3 – 13, 2016.
Luxoft Holding, Inc (NYSE:LXFT) is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft’s software development services consist of core and mission critical custom software development and support, product engineering and testing, and technology consulting. Luxoft’s solutions are based on its proprietary products and platforms that directly impact its clients’ business outcomes and efficiently deliver continuous innovation. The Company develops its solutions and delivers its services from 27 dedicated delivery centers worldwide. It has over 10,500 employees across 31 offices in 17 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. Luxoft is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland and is listed on the New York Stock Exchange. For more information, please visit luxoft.com
Rinspeed is a Swiss creative think tank and mobility lab for the automotive industry for more than thirty-eight years. Innovations, visions and creations, always paired with emotions, result in a long list of products used and enjoyed by the motorists around the globe every day.
Visionary mobility concepts, innovative drives, sustainability, comprehensive network and stated competences in worldwide communications are part of the core business. It is privately held and run by its founder - Frank M. Rinderknecht. Rinspeed makes the future reality - today. For more information, please visit www.rinspeed.com.
This news release of Luxoft Holding, Inc (“Luxoft”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include information about possible or assumed future results of our business and financial condition, as well as the results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. These statements are subject to, without limitation, the risk factors discussed under the heading “Risk Factors” in Luxoft’s Annual Report on Form 20-F for the year ended March 31, 2015 and other documents filed with or furnished to the Securities and Exchange Commission by Luxoft. Except as required by law, Luxoft undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this news release whether as a result of new information, future events or otherwise.
Luxoft Holding, Inc
Alina V. Plaia, +1 212-964-9900 ext. 2404
Vice-President, Global Communications
Kristen A. Soroka, +1 212-964-9900 ext. 2290
Investor Relations Analyst