Provides Updates on U.S. Business Developments and Rollout
MIAMI & TORONTO – January 5, 2023 – XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations and staff management solutions specifically for service industries including hospitality, personal care and service staff today announced that December’s Gross Dollar Value (“GDV”), a non-IFRS metric the Company monitors to track performance increased sharply during the month of December to $50.4 mm up 14.4% from the previous month.
The Company added almost 100 new locations (doors) during the month of December and 1,000 additional wallet holders. Ancillary revenue streams were piloted through the introduction of ‘Budget Insights’, the early version of what will be a robust in-app subscription-based and gamified budgeting tool. The beta generated more than 1,000 opt-ins within the first two weeks of launch. In addition, the company continues to see subscriptions increase on its tip and gratuity management tool that was officially launched in 2022. With the success of these new revenue generating features, the Company will continue to roll-out several new Client and Today user services and features, including automated staff management/time and attendance.
“We provide today’s update with confidence”, said Marilyn Schaffer, Founder and CEO. “With our growing momentum, increased revenue streams and new business in the United States that includes staffing agencies, time and attendance, payroll and POS integrations, we are increasingly bullish about our ability to sustain our growth while reducing our burn,” Marilyn added. “In the interim, we are actively assessing efficient US go-to-market solutions within which our unique EWA business profile fits.”
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 its 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.
For further information please visit xtminc.com or contact:
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, the success of XTM’s intended geographic and business expansions, the success of XTM’s new market relationships, 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.