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May 10, 2021

XTM launches instant mobile employee payout solution in US

By Johney Amala

XTM, which provides mobile banking and payment solutions globally, has announced the full-scale roll-out of its Today instant mobile employee payout solution in the US.

The company is currently finalising network enhancements for instant card issuance in the US and has on-boarded users with active cards and active mobile wallets.

Additionally, the fintech firm has entered into partnerships with Point-of-Sale (POS) platforms to drive new client awareness and minimise timelines for on-boarding and data integrations.

XTM CEO Marilyn Schaffer said: “After we conquered Canada with our free XTM Today Card and Mobile app solution, our next focus was on the US; and we are delivering on this.”

The move comes as states such as Florida, Texas, and New York slowly lift the Covid-19 restrictions on restaurants, golf clubs, salons, large event halls, and other service and hospitality businesses.

The firm plans to make key executive hiring announcements in its Miami and New York offices later this month. The hires will cover sales, finance, and compliance roles, among others.

It also intends to strengthen its board of directors to five members and make appointments to support business development in the US.

Schaffer added: “We believe that the comeback, post-Covid, will be like the Roaring 20s, people will be spending and socialising in restaurants, clubs, and salons after 14 months of languishing and XTM is thrilled to be a part of this restoration.”

Last September, XTM inked a letter of intent to roll out a proprietary cashless payment network with one of the online cannabis retailers in the US.

In March this year, the Canadian fintech signed a deal with CurrencyWorks to allow Today Mobile Wallet holders to purchase NFT’s.

In May last year, XTM said that it is using the Interac Bulk eTransfer solution offered by Royal Bank of Canada to enable its business customers to support near real time payments.

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