Banking Business Fintech News

XTM to Launch Direct Deposit for its Today™ Card Holders

XTM to Launch Direct Deposit for its Today™ Card Holders

XTM, Inc, a Miami and 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 launch a direct deposit program to all of its Today™ Card Holders.  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 earning disbursements ecosystem.

Read More: Reef Finance Becomes the Marquee Project in Pioneering Decentralized Finance with Binance, the World’s Largest Cryptocurrency Exchange

As part of the Company strategy to deliver micro-credit, this direct deposit option will allow users to opt-in to have their wages direct deposited to their Today Mobile wallet and garner an increase in the amount available for overdraft.  The Today Mobile app will allow users to print or email a void check whereby they can deliver a request to their employer to have their paychecks also deposited to the Today Mobile wallet. Depending on the frequency and amount of deposits, opt-in users will have access to various levels of overdraft from $20 – $250, for a nominal monthly fee.

The product name of  XTM’s micro-credit program is Moretoday.

“Our Today users have spoken and with overwhelming demand they have asked for a solution that provides them with short term access to funds through overdraft protection” said Marilyn Schaffer, CEO, XTM.  “Having visibility to funds flow and first access allows XTM a unique opportunity to provide a very inexpensive and low-risk solution for our quickly growing Today Card user base.”

Read More:  GlobalFintechSeries Interview with John Dangoia, VP and Head of Product Management at Infosys Finacle

Related posts

REPAY Forms Advisory Board to Encourage Mortgage Transfer Payment Standards and Best Practices

Fintech News Desk

Danske Bank Ranks High On IPO and Share Emissions

Fintech News Desk

Moody’s Analytics Signs Cocolife, Continues RiskIntegrity™ for IFRS 17 Expansion in Asia

Fintech News Desk