TORONTO, JUNE 9, 2020 – XTM, Inc. (“XTM” or the “Company”) (CSE:PAID) (FSE:7XT), a Toronto-based Fintech company in the challenger banking space, providing mobile banking and payment solutions around the world is pleased to announce that it has signed a deal with DCBank enabling XTM to provide an instantly activated and loaded prepaid Mastercard® through a cash accepting kiosk. Kiosks will be placed at retail venues or throughout business-premises such as Stadiums or Shopping Malls to help completely eliminate cash from their ecosystems https://xtminc.com/reverse-atm/.

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The cash accepting kiosk solution accepts cash and dispenses activated and loaded Mastercards in the amount of funds inserted at the kiosk. This, coupled with the Today™ Mastercard program for cashless worker payouts, enables most businesses big or small to eliminate the reliance on cash. With COVID-19 concerns surrounding cash, employees and employers want to eliminate the need to accept or dispense cash but do not want to alienate customers or turn away business. The kiosk will allow users to securely insert up to $1,000 in cash through a bill accepter, and in turn an activated and loaded Mastercard is dispensed. The entire transaction is completely automated and takes on average 30 seconds to complete.

 

The Company is in discussions with multiple parties including large stadium venues, restaurants, large shopping centers and big box retailers. Businesses may charge a small fee for the Mastercard, however some are electing to subsidize the transaction and deliver the service for free as the cost savings and safety factors of eliminating cash outweigh the nominal cost of the card.

 

“Our cash accepting Kiosks are an important step in completing XTM’s delivery of a completely cashless ecosystem for our customers,” said Marilyn Schaffer, CEO, XTM. “As there will continue to be cash in circulation for the immediate future, it is perfect timing for us to step in and provide a safe and efficient solution to ensure that all our customers’ needs are met.’

 

“DCBank is pleased to innovate cashless solutions and services with XTM,” commented Jeff Smith, President DCBank.

 

About XTM  – www.xtminc.com

 

XTM is a Toronto-based fintech innovator in the challenger banking space, helping business and their workers expedite earnings payouts and reduce or eliminate banking fees and cash. With a global card issuing and payment platform XTM is providing free technology to business to automate and expedite worker payouts. XTM integrates businesses to a payment ecosystem that is coupled with a free worker mobile app and a Mastercard debit card with banking features. XTM drives enterprise value and delivers a positive user experience.

 

For further information contact:

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Marilyn Schaffer  |  416-400-5629  |  finance@xtminc.com

 

 

About DCBank – www.dcbank.ca

 

DCBank is a Schedule I Canadian chartered bank that specializes in the development of innovative corporate payment and deposit solutions, commercial banking services and prepaid card programs. DCBank is a principal member of Interac, Visa, and Mastercard and a member of Payments Canada. DCBank is primarily a payments and banking services provider, working closely with corporate clients in niche markets, to meet their needs. Our business model is driven by developing close, collaborative relationships with our clients and responding quickly to changing needs. We are proud of what makes us unique, including our emphasis on customer service and in-depth payments expertise. For more than 10 years, we have remained dedicated to our customers and committed to payment solutions.

 

For further information please visit dcbank.ca or contact:

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Jeff Smith  |  587.885.2101  |  Jeff@dcbank.ca

 

 

 

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (the “forward-looking statements”), within the meaning of applicable Canadian securities legislation, including expected performance of XTM, continuing increases in GDV, revenues or profits of XTM and its related programs, the expectation that business with which XTM does business will reopen in the expected timeline, the continuing trend toward electronic payment methods, if XTM can sell the kiosks and or place the kiosks, if customers will use the kiosks to convert cash to Mastercards and the general conditions, revenues and performance of XTM. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur.

 

The CSE has not approved nor disapproved the contents of this press release, and the CSE does not accept responsibility for the adequacy or accuracy of this release.