XTM Rolls Out Certified Earned Wage Access in Canada and US – First Vertically Integrated Solution – Free to Employees and Employers

XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto, Denver and London-based Fintech creator of payment innovations including fully certified Earned Wage Access (EWA) through its QRails AnyDay product, is pleased to announce, further to its announcement in June 2023 XTM to Launch EWA in Canada, the official roll out of its SAP-certified and fully-complaint Earned Wage Access solution in Canada through its AnyDay product currently in use to deploy earnings to thousands of hospitality, personal care and soon to be added, health care workers.

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(Photo: Business Wire)

Further to the recent acquisition of issuer-processor QRails in August 2023, the Company’s Today/Tipstoday brands are evolving to the new name with a visual identity and website that aligns with XTM’s vision for the future. The AnyDay brand will replace the Today brand, formerly Tipstoday.

“Through our QRails acquisition, XTM became the first vertically integrated, fully SAP-certified provider of on-demand pay, which is a game-changer for employers who want to offer impactful, retention-focused benefits to their employees at scale,” said Marilyn Schaffer, CEO, XTM. “Since the acquisition of QRails in August of last year, we have seen significant momentum for EWA within the U.S., including a 328% YOY increase in revenue. We are excited to bring this innovative payroll enhancement to Canadian employers and payroll partners.”

“Today is an important milestone for XTM, as our app, used daily by thousands of hospitality, personal care and soon to come, health care workers, reflects a new name and brand identity mirroring the Company’s revitalized trajectory as a global contender in the Earned Wage Access movement,” Marilyn added.

While employers continue to struggle with high turnover rates across healthcare, retail and hospitality, employees continue face financial challenges amid the seemingly ongoing financial crisis. In a recently published white paper, The Era of On-Demand Pay, XTM cites that nearly 80% of workers in North America are living paycheck to paycheck, making it “the main financial lifestyle.” AnyDay’s Earned Wage Access solution solves for both challenges and is fully optional and free to employees, and free to businesses that make their payroll accessible mid-pay-cycle. By giving employees flexibility and control over when and how they get paid, employers can offer an automated and impactful financial wellness benefit that does not affect their bottom line. This is not a new concept, but a growing payroll movement. Millions of workers across North America have access to their earned wages, on-demand, any day during their pay cycle.