top of page

XTM Provides Update on its Vert™ Credit Card Providing Underbanked Access to Credit

DECEMBER 14, 2020

TORONTO, December 14, 2020 – XTM, Inc. (“XTM” or the “Company”) (CSE:PAID) (FSE:7XT), a Toronto-based Fintech company in the neo-banking space, providing mobile banking and payment solutions around the world today announces an update on XTM’s product and launch of its Vert Visa credit card.

Further to the Company’s news release on November 20, 2020, the Vert Visa program allows applicants to establish or re-establish their credit without relying on their credit score to obtain approval.  With a bank account, a monthly source of income and confirmation that the applicant is not in the middle of a bankruptcy, approval percentage is 91.8% with a median credit approval amount of $386 dollars. 


Upon sign-up, applicants link their bank account using digital banking embedded in the Vert mobile application.  This allows the Company to analyze one full year of banking transactions, including deposit history, and in real-time instantly approve and adjudicate a credit amount, using proprietary artificial intelligence, without pulling a credit file. 


The Company will realize an average revenue per user (ARPU) of $5.83 per month net of all processing and capital costs despite the possible scenario of a cost of capital of 12% APR due to high default and bad-debt rates.


The Company has seen significantly meaningful sign-ups in the past 30 days via the website  Based on this tremendous response and demand, the Company has expanded its discussions with large lenders to provide the Company with a larger lending facility to meet demand. 


“The tremendous response to this offering solidifies our strategy that this demographic has long been under serviced and neglected by the existing credit-card issuers,” commented Marilyn Schaffer, CEO.  “We intend to disrupt the cycle of good people looking for credit being denied due to old legacy approval requirements.”

About XTM Inc.


XTM, 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 debit card with free banking features. XTM drives enterprise value and creates a positive user experience. 


For further information please visit or contact:



Ready for a simple future?

Let’s get started.

bottom of page