XTM, Inc. (“XTM” or the “Company”) (CSE:PAID) (FSE:7XT), a Toronto-based Fintech company in the neo banking space, providing mobile banking and payment solutions around the world is pleased to announce its plan to offer micro-credit to its Today™ Cardholder community. The Today program has been adopted and rolled out to thousands of hospitality, personal care and food delivery staff through their employers as a way of eliminating cash from the gratuity and earnings disbursement ecosystem.
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This micro-credit product delivers an overdraft protection on a subscription model and reports the good repayment history to the bureaus thereby increasing the subscribers’ credit score. With an opt-in via the Today mobile app, each subscriber will be given access to their credit score in real-time and in-app credit-building tips to help increase their credit score. The service will be offered free of charge for the first 60-days followed by a small monthly subscription fee. Repayment of the overdraft is made each time the user receives a new deposit from their employer. The Company is in beta stage and expects a full roll-out by Q2 2021.
“Our Today users are a dynamic group of people looking to enhance their credit score, enabling them to take advantage of credit opportunities such as loans and mortgages,” said Marilyn Schaffer, CEO, XTM. “XTM is a Fintech innovator and we are committed to our roadmap of driving exceptional value to our users. This announcement reflects our response to our users’ quest for financial inclusion.”\
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