XTM, a global fintech company in challenger banking space in the US, has decided to take the final steps to launch the ‘Today Mastercard’ programme in the US.
XTM is a global card issuer and payment specialist that assist businesses in automating and expediting worker payouts to eliminate cash.
It incorporates businesses to its payment ecosystem, empowering them with a mobile banking app with free banking features and a Mastercard debit card.
The latest move comes into effect as a result of the huge demand for XTM’s cashless earnings and gratuity platform along with Today Mastercard for workers in the US.
The company has a network of customers waiting to onboard the programme as soon as XTM is ready to issue Mastercard cards in the US.
It is readying the launch in collaboration with its processor and card-issuing banks.
XTM CEO Marilyn Schaffer said: “Accelerating our launch of the Today program in the US is a critical component of our expansion and growth plan.
“The success and learning we’ve gained in the Canadian market will be rapidly replicated in this much larger market with our well-refined roll-out methodology and business model.”
XTM’s currency-agnostic platform accepts and processes all types of currencies that Mastercard and its processors support.
Upon foraying into the US, the Toronto-based company is expected to partner with a local bank as its card-issuing sponsor and one that accepts deposits.
XTM expects to issue Mastercard cards in the US by July this year, followed by the programme launch.