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New Listing: XTM Inc. (CSE:PAID)

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XTM Inc., a Toronto based financial technology company specializing in designing, building and maintaining payment and e-commerce solutions, is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “CRC”.

Additional Information:

Company: XTM Inc.
Website: http://www.XTMinc.com
Stock Symbol: CSE: PAID
Date Published: Mar 10, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

XTM Inc., a Toronto based financial technology company specializing in designing, building and maintaining payment and e-commerce solutions, is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “CRC”.

The company provides proprietary mobile wallet solutions and card issuing solutions for loyalty, reward, and corporate payouts.

For example, XTM has agreements with financial institutions, payment processors and card issues, including MasterCard and Visa, to provide workers with a full-service mobile prepaid card.

XTM's key client base includes any organization which makes a significant number of payments to individuals who are independent contractors or employees where disbursing cash or earnings is difficult, such as chain restaurants and service providers.

For example, each employee of a large chain of restaurants receives a prepaid card which is activated with a financial institution with which XTM has a relationship.

The employer, using XTM's TodayCard program, will load all the gratuities earned by its employees onto the employees’ prepaid cards by sending the aggregate cash value to XTM's designated financial institution.

XTM will then connect to a secure portal of its financial institution, similar to online banking, to designate the value for each card as specified by the customer.

There is no cost for this service to either the employer or the user of the card.

XTM gets revenue by earning fees each time the card is used, with most of the fees being paid by the point of sale merchant.

Depending on the network, such as Visa or MasterCard, the type of program and the country of issuance, these fees can range from 1.25% to 2.6% of the amount charged to cards.

The company also generates recurring revenue from several other sources.

Setting up new customers can be time consuming and rather than charge large setup fees, the company in certain circumstances charges minimum gross billing amounts after a ramp up period of three to six months depending on the program.

Revenues are also generated from development fees which are charged to clients, as well as transaction fees such as Interac e-Transfers and ATM transactions.

The shares are trading at $0.19.

For more information, please visit the company’s website www.XTMinc.com, contact Marilyn Schaffer, CEO, at 888-966-6247 or by email at info@XTMinc.com

I’m Megan Edwards for Investmentpitch Media