The Buzz Surrounding XTM, Inc. (OTC: XTMIF) (CSE: PAID) | Financial Buzz

The Buzz Surrounding XTM, Inc. (OTC: XTMIF) (CSE: PAID)

About XTM Inc.

XTM Inc. is a  fintech innovator in the neo-banking space helping business and workers alike expedite earnings payout and eliminate banking fees. XTM Inc. is a global card issuer and real-time payment specialist providing our technology to businesses to automate and expedite worker payouts and eliminate cash. XTM integrates businesses to a payment ecosystem that is coupled with a free mobile app and a Visa or Mastercard debit card with free banking features. XTM drives enterprise value and creates a positive user experience.

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Investor Recap

Features

Digital Banking

Tips, commissions and expenses are often paid out independent of employees paychecks. However, the theft and reconciliation risks that come with paying out cash and the admin costs involved with printing out cheques, is an expensive hassle. XTM’s digital bank allows corporate loads to a safe & secure digital direct account to disburse funds to employees, consultants, and other workers.

 

Issuing Cards

Tips, commissions and expenses are often paid out independent of employees paychecks. However, the theft and reconciliation risks that come with paying out cash and the admin costs involved with printing out cheques, is an expensive hassle. XTM’s digital bank allows corporate loads to a safe & secure digital direct account to disburse funds to employees, consultants, and other workers.

 

Pre-Authorized Debit

PADs are a convenient way to make payments automatically. Instead of waiting for customers to send a payment, a business is given permission to debit a customer’s bank account when payments are due. We use this feature for programs on our platform so we don’t need chase business owners for payments.

They set the terms, allowing us to pull corporate funds weekly, monthly, or daily, then deposit it onto the cards.

Reverse ATM

The self-serve cash accepting kiosks empower users to easily convert their cash to a Mastercard in seconds

Three easy steps:

1. Customer adds cash via bill acceptor in kiosk Min $10 to a max of $1,000
2. Amount inserted appears on screen with dispense card button when finished
3. Mastercard is instantly activated, loaded, and dispensed from kiosk.

 

Solutions

Recent Developments

Feb. 9, 2021 - XTM to Launch Direct Deposit for its Today™ Card Holders

XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF) (CSE:PAID) (FSE:7XT), a Miami and Toronto based Fintech company in the neo banking space, providing mobile banking and payment solutions around the world is pleased to announce its plan to launch a direct deposit program to all of its Today™ Card Holders.  The Today program has been adopted and rolled out to thousands of hospitality, personal care and food delivery staff through their employers as a way of eliminating cash from the gratuity and earning disbursements ecosystem. 

As part of the Company strategy to deliver micro-credit, this direct deposit option will allow users to opt-in to have their wages direct deposited to their Today Mobile wallet and garner an increase in the amount available for overdraft.  The Today Mobile app will allow users to print or email a void check whereby they can deliver a request to their employer to have their paychecks also deposited to the Today Mobile wallet. Depending on the frequency and amount of deposits, opt-in users will have access to various levels of overdraft from $20  $250, for a nominal monthly fee.

The product name of  XTM’s micro-credit program is Moretoday.

“Our Today users have spoken and with overwhelming demand they have asked for a solution that provides them with short term access to funds through overdraft protection” said Marilyn Schaffer, CEO, XTM.  “Having visibility to funds flow and first access allows XTM a unique opportunity to provide a very inexpensive and low-risk solution for our quickly growing Today Card user base.”

For Full Release: https://www.prnewswire.com/news-releases/xtm-to-launch-direct-deposit-for-its-today-card-holders-301224997.html

Feb. 5, 2021 - XTM to Go Live on BlackFox Restaurant Management Tracking App with Today™ Program

XTM, Inc. (“XTM” or the “Company”)  (OTCQB: XTMIF) (CSE: PAID), (FSE: 7XT), a Miami and Toronto-based Fintech company in the neo-banking space, providing mobile banking and payment solutions around the world, is pleased to announce it will launch its payment solution as a continuation of the Black Fox restaurant management tracking app.

BlackFox is an application developed exclusively for restaurant and bar managers and servers.  Their seamless cash-out process provides managers with calculation and management of tip-outs,  tip reporting management of due-backs and reporting to accounting.  Clients include Franworks, one of Canada’s largest hospitality groups in the casual dining segment, State & Main, The Keg, Original Joes, and the Rowden Group.

Restaurant sales were estimated for North America at  $863B in 2019 with 85% of full-service restaurant bills being paid with Debit or Credit.  The COVID-19 pandemic has accelerated the adoption of digital payments.  With the significant decline in the use and acceptance of cash and many service businesses declining cash as a form of payment, now more than ever, service industry operators need a solution for earnings and gratuity payouts.

XTM’s integration with BlackFox app is completed via its suite of published APIs.  The integration makes use of restful API calls, allowing for the creation of account administrators, card holders and card management directly from the BlackFox platform.  BlackFox users are not required to do any lifting in order to completely manage and move money to the Today program users.  The XTM APIs are publicly available at https://apidocs.mytodaycard.com.

Restaurant staff use their Today mobile app and prepaid card as they would any challenger or neo bank solution with a free mobile bank account and a paired app that empowers bill pay, online commerce, card-present point-of-sale, card-to-card transfer, ACH and eTransfer and more.

“The Today Solution works beautifully with the sophistication of BlackFox’ app,” said Marilyn Schaffer, CEO.  “BlackFox solves the tip-out calculations, reporting and accounting problems and we deliver the staff earnings; poetry in motion.”

“We were looking for a way to further the benefits of our solution within the restaurant space, said Dirk Britton, CEO, BlackFox.  “XTM already owns the earnings payout space so it made the most sense for best-of-breeds to collaborate for the ultimate solution.”

For Full Release: https://www.prnewswire.com/news-releases/xtm-to-go-live-on-blackfox-restaurant-management-tracking-app-with-today-program-301222852.html

Feb. 2, 2021 - XTM Goes Live with the Integration of the Today™ Program to the DELIVER Plus Point-of-Sale System

XTM, Inc. (“XTM” or the “Company”) (CSE: PAID) (FSE: 7XT), a Toronto-based Fintech company in the challenger banking space, providing mobile banking and payment solutions around the world, is pleased to announce it went live following integration of the XTM Fintech Platform to the DELIVER Plus Point-of-Sale System.

DELIVER Plus is currently installed in pizza and other QSR restaurants in the USA and Canada.  The DELIVER Plus team is organized around pizza POS and Pizza Hut specific markets.

With cash declining at a record pace in food delivery and quick serve restaurant (QSR) environments, now more than ever, workers need instant access to their pay.  XTM’s Today™ Card and mobile wallet is now fully integrated to the DELIVER Plus POS system.

Daily deposits to drivers’ Today mobile wallet, paired with XTM’s mobile app gives drivers access to their earnings daily.  Earnings can be used in-store, online, at ATMs, to pay bills, send Interac eTransfers and more.

XTM completed the full integration with the DELIVER Plus POS software via its suite of published APIs.  The integration makes use of restful API calls, allowing for the creation of account administrators, card holders and card management directly from the DELIVER Plus platform.  DELIVER Plus users are not required to do any lifting in order to completely manage and move money to the Today program users. The XTM APIs are publicly available at https://apidocs.mytodaycard.com.

“The Today Solution effectively eliminates cash from each store’s payout process,” said Marilyn Schaffer, CEO.  “Despite systemic dine-in restaurant closures in many areas due to COVID-19, XTM’s food delivery business is doing a brisk business with many people opting to order-in a delicious Pizza pie for family nights.”

“We were looking for a partner in the gratuity and earnings payout space, said Kevin Keegan, President, DELIVER Plus. “XTM turned out to be the right partner.  Their engineering team worked competently and efficiently with our team.  Our restaurants needed a quick and easy solution and the XTM team was able to deliver.”

For Full Release: https://www.prnewswire.com/news-releases/xtm-goes-live-with-the-integration-of-the-today-program-to-the-deliver-plus-point-of-sale-system-301220381.html

Jan. 28, 2021 - Earls Restaurants Signs Deal with XTM for Today™ Mobile App and Mastercard for Instant Employee Payouts

 XTM, Inc. (“XTM” or the “Company”) (CSE: PAID) (FSE: 7XT), a Toronto-based Fintech company in the challenger banking space, providing mobile banking and payment solutions around the world, is pleased to announce that its Today Mobile App and Mastercard instant payout solution was chosen by Earls Restaurants as their payment solution for earnings and gratuity payouts to its thousands of staff members across Canada and the United States.

The COVID-19 pandemic has accelerated the adoption of digital payments resulting in a significant increase in transaction value.  According to Statista, global digital payments transactions value is forecast to reach US $6,685 billion in 2021, representing a 21% YoY increase.  

With the significant decline in the use and acceptance of cash and many service businesses declining cash as a form of payment, now more than ever, service industry operators need a solution for earnings and gratuity payouts. XTM’s Today Card and mobile wallet pushes Earls Restaurant staff their earnings at the end of each shift.  Employees can use their Today Card and mobile banking solution to make in-store or online purchases,  withdraw cash at ATMs, pay bills, send Interac eTransfers and more.

With the Today Mobile Solution admin portal, each Earls location can administer and have complete control and automation of the entire process from card delivery, activation and assignment to daily employee earnings disbursement of gratuities. 

“This was an important decision for our organization” said Eric Holland, Vice President, Operations, Earls Restaurants. “First and foremost, we wanted to ensure it benefited our employees. Ultimately we are looking to make their lives easier and more efficient.  We analyzed the pros and cons of XTM’s solution thoroughly and piloted the program before we moved forward. With very positive feedback all around we are confident that this solution is the right fit and we will be able to grow with it in the future.”

“With Earls being an industry leader and innovator in the hospitality sector, we are delighted to have been chosen to provide the payment solution to all their valued staff members,” said Marilyn Schaffer, CEO, XTM.  “Same-day pay is important as are the other features we will continue to build into our solution including overdraft protection, unsecured credit products and cash back rewards.”

“We are thrilled to be working with Earls and helping them achieve this new level of operational efficiency,” said Dylan Erlendson, VP, Sales, XTM.  “We have great admiration for this organization, and it’s the Earls’ vision in the hospitality space that has resulted in it being such an iconic brand.”

With XTM’s cloud based, PCI compliant web and mobile architecture, users have features common to bricks and mortar banks including transaction tracking, balance reports, same day e-Transfer and ACH, bill-pay, card-to-card transfers, card to bank, suspicious activity notifications and more.  All free to the employers and near-free to the employees with the exception of card-to-bank transfers which have a small transaction fee.  

For Full Release: https://www.prnewswire.com/news-releases/earls-restaurants-signs-deal-with-xtm-for-today-mobile-app-and-mastercard-for-instant-employee-payouts-301217198.html

Jan. 6, 2021 - XTM and KABN North America Unveil New Challenger Banking Program for Verified Self Sovereign Identity Users

XTM, Inc. (“XTM” or the “Company”) (CSE: PAID) (FSE: 7XT), a Toronto-based Fintech company in the challenger banking space, providing mobile banking and payment solutions around the world,  together with fintech leader in the Self Sovereign Identity (SSI) space, KABN Systems North America Inc. (“KABN North America”)  (www.kabnsystemsna.com) (CSE: KABN) (OTC: TRWRF) (FRA: 4T51) announce the launch of the KABN Visa Card and digital banking solution.  Users of KABN’s Liquid Avatar (www.liquidavatar.com) platform will have the added features of XTM’s sophisticated fintech, bank-in-a-box solution.

XTM’s cloud based, PCI compliant web and mobile architecture has the features common to neo banking including transaction tracking, balance reports, e-Transfer/ACH, bill-pay, card-to-card transfers, card to bank, suspicious activity notifications and more, including:

  • Multi-language, time-zone and multi-currency support
  • Publicly published APIs to facilitate rapid integrations
  • Lending and adjudication engines facilitating overdraft and other credit offerings
  • Multi-bank and multi-processor integrations allowing for quick launch and rollout

KABN North America, by way of its Liquid Avatar platform provides a biometrically, verified, SSI solution which allows users to manage a wide range of verifiable credentials, online site and program access, and data permissions, putting control over personal data in the hands of its owners.

KABN North America will begin rolling out the program in Canada throughout the first quarter of 2021.  With all of the necessary approvals and partnership agreements in place users will sign on for their card through the Liquid Avatar app or by visiting (www.kabncard.com)

“KABN North America’s unique business model creates opportunities to convert a growing number of qualified, authenticated users into active program participants,” says Marilyn Schaffer, CEO of XTM.  “This is our second initiative with KABN North America, as we recently joined their healthcare consortium to introduce our other program participants to the COVID-19 verifiable identity healthcare credential.  We are thrilled to be aligned with the powerful, international KABN North America team.”

“We’re excited to launch our challenger bank program, with XTM, as our first financial services offering, to those with a verified Self Sovereign Identity,” said David Lucatch, CEO KABN. “Our goal is to power Liquid Avatar users and other partner program participants to be able spend a blend of traditional and digital currencies, like cash back balances from KABN KASH, while ensuring that they manage and control their identity, data and the respective value it creates.”

Based on a December 15, 2020 article published by McKinsey & Company, entitled ‘This way out:  How leading companies chart a full potential COVID-Exit,’ holistic transformation is an ‘all-in event for leading organizations.’  “Our clients are living this advice,” added Marilyn Schaffer, “launching an all-in transformation is a way to break for the COVID-Exit.   Our clients are onboarding in record numbers, mandating change for their entire organizations, and now, with KABN North America, we have a very real opportunity to cross-sell and up-sell providing a richer, value-driven experience for our users looking come through the pandemic stronger.”

KABN Visa cardholders will be able to enhance their spending power wherever Visa is accepted, online and in more than 200 countries and territories worldwide.  They will be automatically enrolled in KABN KASH (www.kabnkash.com), a customized consumer experience where users can earn cash back on transactions with a growing list of over 250 brand name online merchants. Cardholders will also have access, through our managed partner programs, to a customized online and mobile banking experience that allows for integration to a host of unique value-based services and offers.

As part of its onboarding strategy for the KABN prepaid Visa cardholders, KABN North America, via its Liquid Avatar, biometric, verified self sovereign identity platform, provides state of the art, “Always On” identity verification and validation services at no charge to consumers. This allows users to create, manage and control verifiable credentials to digitally prove their identity and provide access continuously without the hassle of needing to reverify time and time again to a growing list of online service providers, healthcare initiatives, and other value-based programs. In turn, validated users are qualified for unique and customized financial services and offers including the KABN prepaid Visa card, KABN KASH and other value-based opportunities, subject to permissions and necessary approvals

For Full Release: https://www.prnewswire.com/news-releases/xtm-and-kabn-north-america-unveil-new-challenger-banking-program-for-verified-self-sovereign-identity-users-301201840.html

Dec. 16, 2020 - XTM to Join Consortium to Enable Verification of COVID-19 Vaccination Credentials for Hospitality, Personal Care, Delivery and Other Industry Sectors

XTM, Inc. (“XTM” or the “Company”) (CSE:PAID) (FSE:7XT), a Toronto-based Fintech company in the neo-banking space, providing mobile banking and payment solutions around the world today announced it has joined Verifiable Identity Healthcare Credential consortium to support the issuance, management and verification of COVID-19 digital diagnostic testing and vaccination verification for the hospitality, personal care and other business sectors that it services. XTM joins consortium lead, Liquid Avatar (www.liquidavatar.com), and KABN Systems NA Holdings Corp.  (CSE:KABN), a Canadian fintech company that specializes in continuous online identity verification, together with partners Trust over IP Foundation, Lumedic, Loop Insights (TSXV:MTRX), The Campus Agency and TripXpertz.

XTM enables North American industry leaders in the hospitality, personal care and sports and entertainment sectors to power cashless payments to employees, including 7 of the 10 largest restaurant chains; 5 of the largest pizza delivery chains including Dominos and Boston Pizza; the largest personal care salon chain; and the largest Canadian sports and entertainment group.

“We’re excited to join this prestigious consortium in bringing this expertise to our customers and their employees in the hospitality, personal care, food services and entertainment sector,” said Marilyn Schaffer, CEO of XTM.  “Our goal is to support our industry partners through innovation.  Our free, cash-replacement solution like the Verifiable Identity Healthcare Credential initiative, is our way of ensuring that our customers can effectively, efficiently and safely get back to doing business.”

The consortium has developed an integrated solution ecosystem that enables healthcare issuers, individuals and verifiers to have a digital COVID-19 verifiable identity healthcare credential that is secure, user managed and controlled to ensure privacy, transportability and ease of use. This solution supports the foundation for the acceptance of digital Healthcare Passports and allow qualified Health Professionals with the ability to issue a Verifiable Credential that enables venues and other facilities to verify both the issued credential and the known user in real-time to grant access and / or services. 

“We’re excited to have XTM join the consortium and together work to help business and their patrons start getting back to their normal lives and frequenting restaurants, salons, arenas and other entertainment and hospitality facilities, with the use of safe, private, secure and easy to use digital credentials” said David Lucatch, CEO KABN.

The ecosystem is built on a Trust over IP (TOIP) open standards framework, and the World Wide Web Consortium’s (W3C) specifications for decentralized identifiers for credential management with the ability to issue, manage and verify interoperable COVID-19 vaccination and other verifiable credentials across a host of user managed and controlled digital wallets and applications.

The COVID-19 Verifiable Healthcare Credential combines healthcare data with the user’s biometrically verified identity credential.  When a request is made by a Verifier, the User has a choice of which attributes are shared, creating a private verification transaction between themselves and a verifier. While much of the technology and services are already in place, the launch of the healthcare credential pilot is expected to take place in the first quarter of 2021 to coincide with the expected release of the COVID-19 widespread vaccination program. This solution will not only be able to verify identity credentials for the Covid-19 vaccines, diagnostic and antibody testing, but will also be able to support a wide range of immunizations and healthcare records.  

Healthcare issuers and individuals will be granted access to the system at no cost.  Verifiers wishing to access the system will be charged a nominal subscription and micro-payment per verification, making it very cost efficient and effective to use the system for small and medium sized enterprises all the way up to major airlines, venues and facilities.  The partners are committed to making the services affordable to all parties, so that everyone can get back to their everyday lives.

For Full Release: https://www.prnewswire.com/news-releases/xtm-to-join-consortium-to-enable-verification-of-covid-19-vaccination-credentials-for-hospitality-personal-care-delivery-and-other-industry-sectors-301194123.html

Dec. 14, 2020 - XTM to Join Consortium to Enable Verification of COVID-19 Vaccination Credentials for Hospitality, Personal Care, Delivery and Other Industry Sectors

 XTM, Inc. (“XTM” or the “Company”) (CSE: PAID) (FSE: 7XT), a Toronto-based Fintech company in the neo-banking space, providing mobile banking and payment solutions around the world today announces an update on XTM’s product and launch of its Vert Visa credit card.

Further to the Company’s news release on November 20, 2020, the Vert Visa program allows applicants to establish or re-establish their credit without relying on their credit score to obtain approval.  With a bank account, a monthly source of income and confirmation that the applicant is not in the middle of a bankruptcy, approval percentage is 91.8% with a median credit approval amount of $386 dollars

Upon sign-up, applicants link their bank account using digital banking embedded in the Vert mobile application.  This allows the Company to analyze one full year of banking transactions, including deposit history, and in real-time instantly approve and adjudicate a credit amount, using proprietary artificial intelligence, without pulling a credit file. 

The Company will realize an average revenue per user (ARPU) of $5.83 per month net of all processing and capital costs despite the possible scenario of a cost of capital of 12% APR due to high default and bad-debt rates.

The Company has seen significantly meaningful sign-ups in the past 30 days via the website www.myvertcard.com.  Based on this tremendous response and demand, the Company has expanded its discussions with large lenders to provide the Company with a larger lending facility to meet demand. 

“The tremendous response to this offering solidifies our strategy that this demographic has long been underserviced and neglected by the existing credit-card issuers,” commented Marilyn Schaffer, CEO.  “We intend to disrupt the cycle of good people looking for credit being denied due to old legacy approval requirements.”

For Full Release: https://www.prnewswire.com/news-releases/xtm-provides-update-on-its-vert-visa-credit-card-providing-underbanked-access-to-credit-301192098.html

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