XTM Will Deliver Partner Payroll Recipients With Mobile Wallet, Opt-In Virtual Debit Card and Portal Access to W2s
MIAMI & TORONTO, February 16, 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 announce the roll-out of mobile wallets, W2 Wage and Tax Statement access and virtual debit cards through a partner integration to more than 100,000 hospitality clients across the United States.
XTM will initiate the roll-out with employee access to W2 in Q1 and continue the installation with mobile wallet and virtual cards, delivering payouts and the benefits of the Today™ program to employees of Earned Wage Access (EWA). The added volume of users on XTM’s platform has the ability to apply a significant multiple to the company’s Gross Dollar Value load and thereby revenue.
“This is an example of our pursuit of partnerships that are complementary to the existing suite of Today services including US and Canada payroll services, compliance and employee on-boarding,” said Marilyn Schaffer, CEO, XTM. “Our partner is licensed and currently executing payroll in 50 states. This roll-out exponentially accelerates our US market penetration.”
About XTM
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.