XTM Inc. Sees Immediate 300% Spike in Inbound Sales Leads Following Record-Attended Gratuity Tax Compliance Webinar

Rhea-AI Summary

XTM Inc. reported a remarkable 300% increase in new business leads following a successful webinar focused on tax compliance for gratuity disbursements, hosted in partnership with Restaurants Canada and hospitality tax lawyer James Rhodes.

The Company is preparing to launch its Earned and Early Wage Access solution in the US, viewing it as a significant growth market. CEO Marilyn Schaffer emphasized this commitment, citing the potential for tenfold market opportunities. With banking and compliance approvals nearing completion, XTM is developing a strong pipeline of clients.

Positive

• 300% increase in new business leads post-webinar.
• Expansion plans into the larger US market, which is ten times the size of the current market.
• Development of a robust client pipeline with several clients in onboarding stages.

Negative

• None.

XTM, Restaurants Canada and James Rhodes, Leading Hospitality Tax Lawyer Addressed Tax Risk Mitigation for Gratuity Disbursements

MIAMI & TORONTO--(BUSINESS WIRE)-- XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations specifically for service industries including hospitality, personal care and service staff, saw a 300% surge of inbound new business leads within a few hours following the record-attended webinar hosted with Restaurants Canada, an industry-leading non-profit association representing over 30,000 foodservice providers and James Rhodes, leading hospitality tax lawyer. The webinar was curated to provide strategic solutions for hospitality professionals to ensure restaurants are tax compliant on gratuity payouts.

The webinar imparted important distinctions between direct versus controlled tips, with actionable solutions that restaurant owners can implement to ensure tip compliance. James Rhodes referenced XTM as the solution to support compliant payout best practices. For a copy of the recorded webinar please contact compliance@xtminc.com.

With XTM firmly established as the contender in Canadian restaurant technology payments, it is focused on rolling out its Earned and Early Wage Access solution to hospitality businesses in the United States.

“A bigger market calls for a bigger commitment, investment and more time to market,” said Marilyn Schaffer, CEO, XTM. “The United States represents ten times our market, ten times the opportunities and huge multiples. We’ve been developing the hospitality and staffing market with an innovative, one-of-a-kind payment model that is seeing tremendous traction. With our banking and compliance approvals near-complete we have a robust pipeline, signed clients and some in early stages of onboarding.”

About XTM

XTM, www.xtminc.com, is a Miami and Toronto-based fintech innovator helping businesses disseminate and their workers access earned wages and gratuities instantly. 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 employees in restaurants, salons and service positions across Canada and the United States. XTM is a global card issuer and real-time payment specialist and our payment platform is used at no charge by businesses to automate and expedite worker payouts and eliminate cash from their ecosystems. XTM's Today solution drives enterprise value with efficiency, helps attract and retain a workforce with a bespoke user experience designed specifically for employees, contract staff and workers in restaurants and personal care services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221109005631/en/

Marilyn Schaffer

finance@xtminc.com

416.260.1641

Source: XTM Inc.

FAQ

What was the impact of the webinar organized by XTM Inc.?

The webinar led to a 300% surge in new business leads for XTM Inc.

What market is XTM Inc. planning to expand into?

XTM Inc. is focused on expanding its services into the US market.

What is XTM's Earned and Early Wage Access solution?

It is a payment solution that allows hospitality businesses to provide early access to earned wages and gratuities.

Who hosted the webinar with XTM Inc.?

The webinar was hosted in collaboration with Restaurants Canada and hospitality tax lawyer James Rhodes.

What did CEO Marilyn Schaffer say about the US market?

She indicated that the US market represents ten times the opportunities compared to Canada.