XTM Launches Three Large U.S. Restaurant Chains to Its Today™ Program for Digital Staff Payout

Rhea-AI Summary

XTM, Inc. announced the initiation of payment solutions for hospitality staff at over 50 U.S. rooftops by partnering with three large restaurant chains. This rollout includes XTM's Today solution, which allows staff to access earned gratuities on the same day through a mobile app, digital account, and debit card. The service aims to improve staff retention and operational efficiency for restaurant clients. The phased implementation will occur over the next 60 days, enhancing cash flow for employees and supporting restaurant operations.

Positive

• Signed agreements with three large U.S. restaurant chains to implement the Today solution.
• The Today solution provides same-day access to earned gratuities, improving cash flow for staff.
• Enhances operational efficiency for restaurant operators, potentially improving employee retention.

Negative

• None.

Payment Initiated for Hospitality Staff Working Across 50+ U.S Rooftops

MIAMI & TORONTO--(BUSINESS WIRE)-- 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 that it has signed agreements with three new large U.S. restaurant chains to roll out their 50+ rooftops to its Today solution for same-day staff payouts.

The Today solution consists of a mobile app, digital account and debit card giving operators and servers the benefits associated with immediate earned gratuity access. With same day payout, servers have the advantage of same-day access to their funds to make point of sale transactions, pay their bills, make peer-to-peer transfers and take advantage of XTM’s upcoming local cash back rewards. Restaurant operators benefit from incentivized employees and improved time and attendance.

The restaurant groups signing onto the Today program are located across the USA and growing. Both XTM and its restaurant clients will roll-out in phases over the next 60 days for smooth transition and to create momentum with staff and zero friction for operations. The restaurants will be named upon completion of the full roll-out.

“XTM has been working hard to create a viable, equally attractive solution in the US as it has in Canada,” said Marilyn Schaffer, XTM CEO. “We are excited to see the traction. With our solution to digitize staff payments, we support the restaurant operators with a free, fluid, seamless platform that reduces the need for non-revenue generating activities enabling the focus to be on delighting the customer.”

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.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220614005659/en/

Marilyn Schaffer

E: finance@xtminc.com

T: 416.260.1641

Source: XTM, Inc.

FAQ

What recent developments has XTM, Inc. announced regarding hospitality staff payments?

XTM, Inc. has initiated payments for hospitality staff across 50+ U.S. rooftops by partnering with three major restaurant chains to implement its Today solution.

What is the Today solution offered by XTM, Inc.?

The Today solution is a mobile app and debit card system that allows restaurant staff to access their earned gratuities on the same day.

How will XTM's partnerships with U.S. restaurants impact staff payments?

The partnerships will enable same-day payouts, providing staff with immediate access to their funds for transactions and bills.

When will the rollout of the Today solution occur for XTM, Inc.?

The rollout of the Today solution will take place in phases over the next 60 days.

What benefits does the Today solution provide to restaurant operators?

The solution helps restaurant operators by incentivizing employees and improving time and attendance.