XTM rolling out the Today solution throughout 68 Earls locations in Canada and the US
XTM, Inc., a Toronto-based Fintech company in the challenger banking space, providing mobile banking and payment solutions around the world, is pleased to announce that its Today Mobile App and Mastercard instant payout solution was chosen by Earls Restaurants as their payment solution for earnings and gratuity payouts to its thousands of staff members across Canada and the United States.
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The COVID-19 pandemic has accelerated the adoption of digital payments resulting in a significant increase in transaction value. According to Statista, global digital payments transactions value is forecast to reach US $6,685 billion in 2021, representing a 21% YoY increase.
With the significant decline in the use and acceptance of cash and many service businesses declining cash as a form of payment, now more than ever, service industry operators need a solution for earnings and gratuity payouts. XTM’s Today Card and mobile wallet pushes Earls Restaurant staff their earnings at the end of each shift. Employees can use their Today Card and mobile banking solution to make in-store or online purchases, withdraw cash at ATMs, pay bills, send Interac eTransfers and more.
With the Today Mobile Solution admin portal, each Earls location can administer and have complete control and automation of the entire process from card delivery, activation and assignment to daily employee earnings disbursement of gratuities.
“This was an important decision for our organization” said Eric Holland, Vice President, Operations, Earls Restaurants. “First and foremost, we wanted to ensure it benefited our employees. Ultimately we are looking to make their lives easier and more efficient. We analyzed the pros and cons of XTM’s solution thoroughly and piloted the program before we moved forward. With very positive feedback all around we are confident that this solution is the right fit and we will be able to grow with it in the future.”
“With Earls being an industry leader and innovator in the hospitality sector, we are delighted to have been chosen to provide the payment solution to all their valued staff members,” said Marilyn Schaffer, CEO, XTM. “Same-day pay is important as are the other features we will continue to build into our solution including overdraft protection, unsecured credit products and cash back rewards.”
“We are thrilled to be working with Earls and helping them achieve this new level of operational efficiency,” said Dylan Erlendson, VP, Sales, XTM. “We have great admiration for this organization, and it’s the Earls’ vision in the hospitality space that has resulted in it being such an iconic brand.”
With XTM’s cloud based, PCI compliant web and mobile architecture, users have features common to bricks and mortar banks including transaction tracking, balance reports, same day e-Transfer and ACH, bill-pay, card-to-card transfers, card to bank, suspicious activity notifications and more. All free to the employers and near-free to the employees with the exception of card-to-bank transfers which have a small transaction fee.
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