XTM Closes on Acquisition of Tiproll Gratuity Pooling Software Solution
XTM, a Miami and Toronto-based fintech company, has successfully acquired Tiproll, a gratuity-pooling software, to integrate with its Today platform. The acquisition aims to simplify tip distribution for hospitality businesses by eliminating manual calculations. The Tiproll integration is expected to be completed by the end of August 2021, offering a free service to current and new clients via a tiered subscription model. As the hospitality sector recovers, XTM focuses on providing innovative, compliant, and no-cost solutions for service workers and employers, enhancing operational efficiency.
- Acquisition of Tiproll enhances the Today platform, providing better gratuity distribution solutions.
- Tiproll offers a user-friendly platform that can automate complex tip calculations, reducing manual labor.
- Integration expected to be completed by August 2021, allowing fast deployment of the service.
- The Today solution provides a free payout system, appealing to businesses recovering from the pandemic.
- None.
TIPSTODAY™ PROGRAM TO INTEGRATE THE TIPROLL SOFTWARE TO ITS GRATUITY ACCESS PLATFORM
MIAMI and TORONTO, July 13, 2021 /PRNewswire/ - 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 it has closed the acquisition of the assets of Tiproll, a gratuity-pooling software solution to be an add-on to the Today (or the "Tipstoday) program.
Founded in 2015 Tiproll has developed and delivered a user friendly and intuitive gratuity pooling distribution platform serving locations across North America. With hundreds of combinations, the platform can solve almost any labor intensive tip out calculation including percentage based, point system based, employee specific, position specific, combinations of all and more. Using the Today portal employers can easily activate and set up the Tiproll option making cumbersome spread sheet and manual calculations a thing of the past.
XTM expects to have the Tiproll integration with the Today portal completed by the end of August 2021. On commercial launch, the Tiproll solution will be offered for free to all employers who currently use the Today program or to new clients as a monthly subscription-model based on tiered numbers of users.
With the current restorative climate within the hospitality and service industries, XTM remains focused on providing every advantage within its means to help these businesses recover quickly. XTM with its Today payout solution offers one of the only free, integrated hospitality and service worker solutions that is fully compliant with all paycard, wage and gratuity disbursement rules and regulations in all 50 States and Canada.
The Today payout solution includes:
- *Two free monthly ATMS and, effective July 15, unlimited free ATM withdrawals through our fee-free and surcharge-free ATM networks
- Free unlimited account loads
- Free of any monthly or annual fees
- Free unlimited POS and online transactions
- Free unlimited bill payments
- Free Today-user to Today-user transfers
- Same day ACH and Interac e-transfers for a small fee
*(effective July 15, 2021 via rebate and August 1, 2021 through in-app ATM finder)
"Providing a best in class, totally free solution to the hospitality and service workers and employers has always been our primary objective," said Marilyn Schaffer, XTM, CEO. "With cash disappearing within the industry and in fact the economy, XTM is providing a free end-of-shift instant payout solution as compared to merging gratuities with paychecks that employees tell us, by an overwhelming percentage, they do not want."
"After spending years as an operator in the hospitality space, I'm thrilled to have finally found a partner in XTM who can extend our Tiproll offering and get it in process with thousands of establishments as part of a wholistic end-to-end solution," said Scott Selland, Founder, Tiproll. "The XTM team has integrity and is committed to delivering solutions for hospitality, by hospitality."
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 and our technology is used by Restaurants and Salons at no charge to automate and expedite worker payouts and eliminate cash from their ecosystems. XTM's Today solution drives enterprise value with efficiency and a bespoke user experience designed specifically for restaurateurs and personal care services.
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 integrations will attract new business 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. While XTM can make best efforts to estimate when businesses will re-open or back to pre-Covid 19 business levels there are no guarantees this will happen in the time the Company expects or if at all. 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.
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SOURCE XTM Inc.
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