Innovative Digital Finance Solutions Offer Businesses Greater Control

NEW YORK, Aug. 18, 2021 /PRNewswire/ -- The fintech industry, digital banking, and digital payments markets have all been rapidly expanding over the last decade. Yet, the pandemic has helped accelerate the move to digital payments and other digital finance services with a sense of urgency not seen before across the B2B landscape, and the same is true for the online retail sector. In fact, research by McKinsey & Company indicates that "overall, in retail, the impact was not a decline but a shift in buying behavior. In the first six months of the year, consumers spent USD 347 Billion online with U.S. retailers, up 30% from the same period in 2019 — corresponding to six times the annualized 2019 growth rate of online retail." As for banks, the pandemic has accelerated the move from "physical" to "virtual" banking. Banks in multiple geographies are closing branches (or in some cases will not reopen branches they closed due to the pandemic), as well as ATMs. XTM, Inc. (CSE: PAID) (OTC: XTMIF), Square, Inc. (NYSE: SQ), PayPal Holdings, Inc. (NASDAQ: PYPL), Lightspeed Commerce Inc. (NYSE: LSPD), Global Payments Inc. (NASDAQ: GPN) 

Most payment solution providers also offer a variety of features which include new currencies, mobile payment apps, HTML payment buttons, and even security technology. Real-time payments are a type of digital payment solution that allows for the quick transfer of funds through a secured payment gateway. The technological infrastructure that real-time payments are built on also allows for immediate transfers between a consumer and a vendor. And, according to data presented by Finaria.it, the global digital payments industry is expected to hit a value of USD 6.6 Trillion in 2021, a 40% increase in two years.

XTM, Inc. (CSE: PAID) (OTCQB: XTMIF) announce yesterday breaking news regarding, "its second quarter 2021 Financial Results and Management Discussion and Analysis ("MD&A") for the three and six month period ending June 30, 2021 which shows, among other things, a 56.5% increase in quarterly revenue over Q1 2021.

Highlights include:

• During the period ended June 30, 2021 the Company's gross revenue increased by 56.5% to $399,618 compared to gross revenue during the three months ended March 31, 2021. With the gradual re-openings of outdoor dining, which occurred in Canada in the final two weeks of the quarter, the Company has begun to experience positive results to its Gross Dollar Value loads ("GDV"), which is directly related to an increase in revenue.
• XTM signed and onboarded 169 new restaurants from across Canada during Q2 and its solution is now in place for US restaurants in the states of Washington, Colorado, Texas, Illinois, Virginia, Massachusetts and Florida.
• The Company's GDV increased 116% compared to the GDV in the last quarter. GDV is key performance indicator as the Company generates revenue when money is spent from the Today wallet at a point-of-sale.

Subsequent events:               

• The Company signed a non-binding LOI on July 27, 2021 with Restaurants Accounting Services, Inc. ("RASI") for a Joint Venture (JV) whereby the Company will provide RASI's clients with XTM's digital payout solution for gratuity and earnings, and XTM is now able to offer its clients and their workers with RASI's payroll and back-office restaurant services.RASI is a US-based leading virtual end-to-end outsourced accounting, payroll, and finance platform; modernizing the back-office with managed Finance as a Service (FaaS). RASI's hospitality-specific software is an analytics tool that allows restaurant operators to gauge performance in real-time and proactively make adjustments on areas of opportunity. Restaurants aim to save on food costs, pour costs and labor costs through the RASI solution.
• On July 13, 2021 the Company completed the acquisition of the assets of TipRoll a gratuity pooling and tip allocation software platform that allows establishments to easily set up a tip distribution plan based on hundreds of combinations including factors including factors like position held, time worked, point system, percentage based, seniority etc.

A comprehensive discussion of XTM's financial position and results of operations is provided in the financial statements and MD&A for the quarter ending June 30, 2021, filed on SEDAR.

'We've had a small taste now of what will happen on full re-openings,' said Marilyn Schaffer, CEO of XTM. 'Ontario has our highest concentration of clients, so with just two weeks of outdoor dining opening from June 14 to the end of the reporting period we've seen a significant pop in revenue, GDV and cardholder transactions. We are enthusiastic about July, continued growth in Canada and the US and continuing to grow in our third quarter and beyond.'

XTM is now a dominant brand for cashless disbursements in the Canadian hospitality space. The Company is working through the compliance and regulatory complexities of launching in the US market and has begun implementation for restaurants in America."

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Square, Inc. (NYSE: SQ) and Afterpay Limited reported earlier this month that they have entered into a Scheme Implementation Deed under which Square has agreed to acquire all of the issued shares in Afterpay by way of a recommended court-approved Scheme of Arrangement. The transaction has an implied value of approximately US$29 billion (A$39 billion) based on the closing price of Square common stock on July 30, 2021, and is expected to be paid in all stock. The acquisition aims to enable the companies to better deliver compelling financial products and services that expand access to more consumers and drive incremental revenue for merchants of all sizes. The closing of the transaction is expected in the first quarter of calendar year 2022, subject to the satisfaction of certain closing conditions outlined below. "Square and Afterpay have a shared purpose. We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand aligned with those principles," said Jack Dorsey, Co-Founder and CEO of Square. "Together, we can better connect our Cash App and Seller ecosystems to deliver even more compelling products and services for merchants and consumers, putting the power back in their hands."

PayPal Holdings, Inc. (NASDAQ: PYPL) announced back in March that it has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets. Curv is a leading provider of cloud-based infrastructure for digital asset security based in Tel Aviv, Israel. In October 2020, PayPal announced its commitment to help shape the role that digital currencies will play in the future of financial services and commerce. To drive sustained growth and innovation in this area, the company recently created a business unit focused on blockchain, crypto and digital currencies. Curv will join the newly formed group, with its strong team of technologists adding technical expertise to PayPal. "The acquisition of Curv is part of our effort to invest in the talent and technology to realize our vision for a more inclusive financial system," said Jose Fernandez da Ponte, vice president and general manager, blockchain, crypto, and digital currencies, PayPal. "During our conversations with Curv's team, we've been impressed by their technical talent, entrepreneurial spirit, and the thinking behind the technology they've built in the last few years. We're excited to welcome the Curv team to PayPal."

Lightspeed Commerce Inc. (NYSE: LSPD) announced earlier this month the general availability of Lightspeed Payments for hospitality merchants in Germany, Switzerland, France, Belgium and the Netherlands. To provide custom, localized financial solutions in each market, Lightspeed has partnered with global payments platform Adyen to enable hospitality businesses to meet evolving consumer demand with reliable and secure payment processing options. Lightspeed Payments is currently available to retail businesses in Canada and the United States as well as hospitality merchants in the United States. In the coming months this is planned to expand to serve Lightspeed merchants in the Asia-Pacific region, including customers of the recent acquisition of Vend . The expansion of Lightspeed's integrated financial services offerings to these new markets is a milestone for Lightspeed as non-North American markets comprise over 40% of Lightspeed's global customer locations.

Global Payments Inc. (NASDAQ: GPN) reported last month that PwC, a global leader in professional services, will be a charter member of its new TSYS Partner Program. An initiative of Global Payments' Issuer Solutions segment, the TSYS Partner Program will cultivate strategic alliances with top global companies and unlock mutual business opportunities by delivering a robust, scalable comprehensive solution set to companies worldwide. The collaboration with PwC jointly delivers software and services to financial institutions, retailers, fin techs, neobanks, and startups that are poised to make significant digital investments. Global Payments' cloud-based technologies deliver innovative solutions at scale with faster speed-to-market to clients worldwide. Potential services include program management, customer insights and analytics, fraud tools, portfolio conversion services, and wholesale platform replacements, as well as core processing capabilities.

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