QRails and XTM Merge

XTM’s Gratuity Payout Solution Launches on QRails’ AnyDay App

September 26, 2023

Integration Results in Instant Payment of Gratuities as well as Earned Wage Access and Additional Earnings

September 26, 2023, MIAMI, TORONTO — XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations is pleased to announce that it has officially integrated and merged XTM’s Today tipping solution into the Qrails’ AnyDay Earned Wage Access (EWA) solution for its U.S. clients resulting in an additional feature roll-out opportunity for large strategic partners such as SAP, Discover and Veritas Prime.

Employees in the U.S., who traditionally receive their gratuities as part of their paychecks, no longer need to wait a pay cycle to receive their gratuities. Through the AnyDayTM Payments platform, enabled by XTM’s technology, employers can now leverage this solution for improved recruitment and retention. This creates new opportunities for XTM’s current US pipeline of Human Capital Management and Payroll partners who have been eagerly waiting for this solution since the close of the QRails acquisition on August 21st, 2023.

“XTM’s tipping solution has been relieving the financial burden for more than 80,000 hardworking employees in Canada on a daily basis,” says Cary Strange, President, XTM. “Combining the ability to receive daily tips with the AnyDayTM Earned Wage Access app addresses pent-up demand within the hospitality industry in the U.S. and our team is ready to fill the gap.”

The combined solution is now in use with a variety of XTM clients across the U.S.

The AnyDayTM  mobile wallet and debit card creates a robust retention tool and includes a client portal with added features that support financial and accounting teams for seamless reporting and reconciliation.  The valuable processing and issuing tech stack provides employers with a secure, efficient and effective way to distribute earnings, instantly.

This technology integration is the start of the advantages to be realized of consolidating the resources of XTM and QRails in the areas of sales & marketing, onboarding, customer service and product development.

The merged companies are currently in talks with large hospitality groups in the U.S. that will help quickly scale the integrated solution and further position XTM as the only vertically integrated platform offering real-time payments for a variety of workers’ earnings.

About XTM

XTM is a Miami and Toronto-based fintech innovator founded in the cloud-banking space and further helping businesses inspire their workforce in the hospitality, personal care and services staffing industries. Established as a leader in on-demand pay with many large brands including Earls, Maple Leaf Sports & Entertainment, Cactus Club, Marriott Hotels and Live Nation, XTM continues to innovate with further digital featurization to support businesses to inspire workers to want to work more with shift scheduling and call-outs, staff management, expense management, in-app health and financial wellness; and gamified loyalty programs. XTM’s Today Financial™ is in use through POS and Payroll integrations and directly through web portals by thousands of businesses and their workers across Canada and the United States. For more information, please visit www.xtminc.com.

About QRails

QRails is a cloud-based, API-driven issuer-processor enabling payroll providers, financial institutions and other global fintech companies to keep up with the on-demand economy by delivering innovative digital payment solutions to their employees. QRails helps companies modernize and leverage payroll as a differentiator in attracting and retaining talent all at low to no cost for the employee and employer. QRails’ flagship solution, AnyDayTM, is the first provider to own their full tech stack that powers their Earned Wage Access solution.

SAP-certified, QRails also has earned several industry certifications under PCI DSS, and SOC. For more information, please visit www.QRails.com.

For more information about these solutions please contact:

Jon Weiss