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Marking XTM’s Largest Commercial EWA Program To Date
MIAMI & TORONTO, February 27, 2024--(BUSINESS WIRE)--XTM, Inc. ("XTM" or the "Company") (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto, Denver and London-based Fintech creator of certified Earned Wage Access (EWA) through its QRails AnyDay™ product and fully integrated processor, is pleased to announce it has commercially launched AnyDay™, its SAP-certified and fully-compliant Earned Wage Access solution, for a Fortune 15 Employer.
"Our recently announced financing empowers us to launch the first of many significant AnyDay EWA deals," said Marilyn Schaffer, XTM, CEO. "We are focused on execution, positioning us to support the massive demand for EWA, globally."
Through the QRails acquisition, XTM became the first vertically integrated, fully SAP-certified provider of on-demand pay, a game-changer for employers who want to offer impactful, retention-focused benefits to their employees at scale.
A recently published white paper, The Era of On-Demand Pay, XTM cites that nearly 80% of workers in North America are living paycheck to paycheck, making it "the main financial lifestyle." AnyDay’s Earned Wage Access solution solves for both challenges and is fully optional and free to employees, and free to businesses that make their payroll accessible mid-pay-cycle. By giving employees flexibility and control over when and how they get paid, employers can offer an automated and impactful financial wellness benefit that does not affect their bottom line. This is not a new concept, but a growing payroll movement. Millions of workers across North America have access to their earned wages, on-demand, any day during their pay cycle.
AnyDay’s Earned Wage Access is designed to easily implement and execute at scale. Through leading Payroll and Time & Attendance integrations and leading HR technology partners, XTM will continue to onboard employees within North America aiming for hundreds of thousands of active employees in 2024.
For more information and to access The Era of On-Demand Pay white paper, visit paidanyday.com
About XTM
XTM with offices in Miami, Toronto, Denver and London is a Fintech creator of payment innovations including fully certified Earned Wage Access through its AnyDay™ product. Founded in the cloud-banking space to further support businesses to inspire their workforce in the hospitality, personal care and services staffing industries, XTM provides on-demand pay for many large brands including Earls, Maple Leaf Sports & Entertainment, Cactus Club, Marriott Hotels and Live Nation. QRails is a fully owned subsidiary of XTM. A cloud-based, API-driven issuer-processor, QRails enables payroll providers, financial institutions and other global fintech companies to keep up with the on-demand economy by delivering innovative digital payment solutions to their employees. QRails helps companies modernize and leverage payroll as a differentiator in attracting and retaining talent all at low to no cost for the employee and employer. QRails’ flagship solution, AnyDay™, is the first provider to own their full tech stack that powers their Earned Wage Access solution. Founded in 2016, QRails, Inc., together with its U.K. subsidiary, QRails Limited is SAP-certified, QRails also has earned several industry certifications under PCI DSS, and SOC. For more information, please visit www.QRails.com.