MIAMI & TORONTO, January 20, 2022—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 provide an update further to its July 13, 2021 announcement of the acquisition of Tiproll, a gratuity-pooling and distribution calculation software solution, an addition to the Today program.
Based on extensive industry research, XTM further developed the intellectual property of Tiproll to complete a gratuity management solution that is customized to the behaviors of the hospitality business i.e. point-based, percentage-based or employee-specific. Branded as XTM’s Today Tippool™, the product enables hospitality organizations to integrate the module with their installation of the Today program. Prospects not currently on the Today program will soon be able to leverage the Today Tippool solution as an ancillary module through their POS to disburse their gratuity allocations. Based on client demand, XTM’s Tippool solution will have wide adoption with little heavy lifting by XTM.
XTM is continuing its efforts in introducing technology to help lower the administrative labor costs for hospitality and service businesses, enabling the service businesses to focus on their core compency while XTM helps to increase their margins. XTM is actively seeking other acquisitions and partnerships that are complementary to the existing suite of Today services including US and Canada payroll services, compliance and employee on-boarding.
“We listened to owner/operators small and large looking for a single source solution to eliminate back of house hospitality administration costs,” said Marilyn Schaffer, XTM, CEO. “We are working on fulfilling the eco-system to deliver cost effective, technology driven solutions that solve pain-points, save money and make service businesses more productive. Through acquisitions and organic technology, we are confident that we will lead this charge.”
XTM, www.xtminc.com, is a Miami and Toronto-based fintech innovator in the neo-banking space, helping businesses and service workers in the hospitality and personal care space disseminate and access earned wages and gratuities. XTM’s Today™ Solution, comprised of a free mobile app and a Visa or Mastercard debit card with free banking features, is used by thousands of restaurants, salons and staff across Canada and the United States. XTM is a global card issuer and real-time payment specialist. Our technology is used by Restaurants, Salons and service staff at no charge to automate and expedite Earned Wage and Gratuity Access, increasing time and attendance and eliminating cash from ecosystems. XTM’s Today solution drives operational efficiencies and delivers a bespoke user experience designed specifically for service workers.