XTM Announces Proposed Acquisition of Certified EWA Solution & Processor, QRails

XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations and mobile solutions specifically geared towards service industries including hospitality, personal care and other service providers, announces its intent to acquire QRails Inc. (“QRails”), a prepaid payments issuer-processor and one of the first vertically integrated provider of earned wage access (“EWA”) with operations currently in the United States and the UK, offices in Denver, Kansas City and London and which is incorporated under the laws of Delaware (the “Proposed Transaction”).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230519005320/en/

AnyDay Certified EWA provider in North America and the UK (Graphic: Business Wire)

Built on its own world class issuer-processor platform, QRails’ flagship product AnyDay is currently white labeled for some of the largest HR & Payroll Solution Providers in the world and is fully integrated to multiple payroll and time & attendance systems providing workers with real-time access to available wages. Some of the product features included in AnyDay are:

• Full suite of payment options including virtual and physical card, mobile wallet, card-to-card transfers
• White label opportunities for integration into existing apps using APIs and SDKs
• Perfect for Workforce Management (“WFM”), Time and Attendance, and Payroll partners to include as part of the overall solution

Information on QRails’ traction in the EWA space can be reviewed at the following link: QRails News

As part of the acquisition, Cary Strange, XTM’s Chief Revenue Officer will be appointed President of QRails. Strange is an early investor in QRails and its former Chief Revenue Officer. QRails will run as a wholly owned subsidiary of XTM with staff and operational integrations phased in over time as revenue potential has achieved momentum. With a deep and experienced background in payments, and with first-hand knowledge of QRails’ clients, Strange has been assisting XTM with its evaluation and integration planning to be able to quickly scale QRails and XTM into the US and international markets.