XTM Signs Regis Corporation Salons

Rhea-AI Summary

XTM Inc. has successfully integrated its technology with Regis Corporation's point of sale systems, enabling automated earnings payouts to salon stylists via the Today™ card and digital wallet. This partnership allows franchise owners to automate gratuity and earnings payments, enhancing cashless transactions, especially amid COVID-19. As of June 15, 2020, approximately 68% of Regis locations have reopened, with 235 franchise sites onboarded to the XTM platform, leading to significant daily load increases in prepaid card usage.

Positive

• Automated payouts enhance efficiency and user experience for stylists.
• 235 franchise locations onboarded, indicating strong acceptance of the technology.
• 68% of Regis locations reopened, suggesting recovery and potential growth.

Negative

• None.

INTEGRATES WITH POS SOFTWARE FOR INSTANT PAYOUTS TO SALON STYLISTS

TORONTO and MIAMI, June 23, 2020 /PRNewswire/ - XTM, Inc. ("XTM" or the "Company") (CSE: PAID) (FSE: 7XT), a global fintech company providing mobile banking and payment solutions around the world is pleased to announce that it has completed the technology build enabling automated data collection from Regis Corporation point of sale (POS) and salon management platform facilitating instant earnings payouts to the Today™ card and digital wallet.  Regis Corporation (NYSE: RGS) has more than 7,000 franchised, owned or held ownership interests in salons throughout North America and is the largest hair salon chain in the world.  Some of their brands include Supercuts^®️, SmartStyle^®️, Cost Cutters^®️, Roosters^®️ and First Choice Haircutters^®️.

The solution allows all Regis Corporation Franchisee Salon owners the ability to completely automate the payout of gratuities and earnings using the Today™ instant payments solution.  At the end of each shift, the XTM platform automates the collection of all earnings data and transfers funds to the stylists' Today digital wallets and prepaid card, in real-time.   

In just a few weeks XTM on-boarded 235 franchise locations representing thousands of issued and activated Today cards with significant daily loads.  As at June 15, 2020 approximately 68% of the Regis Salon portfolio locations have re-opened from hibernation caused by the COVID-19 pandemic and XTM is receiving a growing number of commitments from more franchise locations across Canada and the US.

"With the risks associated with handling and distributing cash amid COVID-19, our solution just works for the many Regis franchise owners looking to simplify and completely automate their gratuity and earnings disbursement process," said Marilyn Schaffer CEO, XTM.   "Our POS integration removes any friction making the transition to cashless disbursements, quick, easy and efficient."

"We are all trying to create a safe environment for our customers and staff" said Luther Winchell, Regis Corp Franchise owner of 26 salons.   "XTM's solution allows us to eliminate the need to handle cash, keep same day payouts and reduce time spent managing disbursements to our hard-working stylists."

About XTM Inc.

XTM, www.xtminc.com is a Toronto-based fintech innovator in the challenger banking space helping business and workers alike expedite earnings payout and reduce or eliminate banking fees.   We are a global card issuer and payment specialist providing free technology to business to automate and expedite worker payouts that can eliminate cash.  XTM integrates businesses to a payment ecosystem that is coupled with a free mobile app and Mastercard debit card with free banking features. XTM drives enterprise value and creates a positive user experience. 

About Regis Corporation

Regis Corporation (NYSE:RGS) is a leader in beauty salons and cosmetology education. As of March 31, 2020, the Company franchised, owned or held ownership interests in 7,026 worldwide locations. Regis' franchised and corporate locations operate under concepts such as Supercuts^®, SmartStyle^®, Cost Cutters^®, Roosters^® and First Choice Haircutters^®. Regis maintains an ownership interest in Empire Education Group in the U.S. For additional information about the Company, please visit the Investor Information section of the corporate website at www.regiscorp.com.

This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (the "forward-looking statements"), within the meaning of applicable Canadian securities legislation, including expected performance of XTM, ,the expectation that businesses with which XTM does business or have committed to do business will in the expected timeline, the continuing trend toward electronic payment methods, that the salon integration will attract new salon owners to use the Today program, and the general conditions and revenues of XTM. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur.

The CSE has not approved nor disapproved the contents of this press release, and the CSE does not accept responsibility for the adequacy or accuracy of this release.

View original content:http://www.prnewswire.com/news-releases/xtm-signs-regis-corporation-salons-301081643.html

SOURCE XTM Inc.

FAQ

What recent partnership did RGS announce?

RGS announced a partnership with XTM Inc. to automate earnings payouts to salon stylists.

When was the XTM and RGS partnership announced?

The partnership was announced on June 23, 2020.

How many Regis locations have reopened as of June 15, 2020?

Approximately 68% of Regis locations have reopened as of June 15, 2020.

What is the benefit of the XTM integration for RGS franchise owners?

The integration allows franchise owners to automate gratuity and earnings disbursements, making cash handling safer and simpler.

What payment solution does XTM provide for RGS stylists?

XTM provides the Today™ card and a digital wallet for instant earnings payouts.