Innovative Technology Allows Novel Integrated Payment Options to Spread

NEW YORK, Feb. 3, 2021 /PRNewswire/ -- With the emergence of online platforms, digital payment solutions have rapidly evolved throughout recent years. Typically, most payment providers advance their systems to send or receive funds quicker while providing top-line security. Meanwhile, the industry is largely being fueled by the changing demographic trends across the world. Specifically, millennials are responsible for the broad adoption of digital payment solutions, and as a generation that is heavily influenced by technology, their daily habits are intertwined around their phones, computers, and the internet. "What remains key is consumer choice. People want a frictionless experience, taking the path of least resistance, just as long as they can remain secure," said Bill Gajda, Global Head, Innovation & Strategic Partnerships at Visa. "Millennials will continue to drive mobile money management and payments. More than nine in ten (91%) predict that they will be using their mobile devices for financial purposes in three years' time, far above the national average of 72%." XTM, Inc. (CSE: PAID) (OTC: XTMIF), Square, Inc. (NYSE: SQ), Bottomline Technologies (de), Inc. (NASDAQ: EPAY), NCR Corporation (NYSE: NCR), Adyen N.V. (OTC: ADYEY)

In addition, various non-banking institutions are now focusing on leveraging innovative technology to improve user experience and provide better digital payment options. For example, non-banking institutions such as Amazon.com, Inc. and Alibaba are offering payment solutions and services to their customers. Additionally, the Internet of Things (IoT), cloud computing, tokenization, biometrics, and ubiquitous connectivity are all among the tech trends that were very beneficial to digital payment sector are, and all of which are expected to shape the way consumers transact in the future. Overall, the global digital payments market size is expected to reach USD 132.5 Billion by 2025 while registering a CAGR of 17.6% from 2019 to 2025, according to a new report by Grand View Research.

XTM, Inc. (CSE: PAID) (OTC: XTMIF) announced yesterday that, "it went live following integration of the XTM Fintech Platform to the DELIVER Plus Point-of-Sale System.

DELIVER Plus is currently installed in pizza and other QSR restaurants in the USA and Canada. The DELIVER Plus team is organized around pizza POS and Pizza Hut specific markets.

With cash declining at a record pace in food delivery and quick serve restaurant (QSR) environments, now more than ever, workers need instant access to their pay. XTM's Today™ Card and mobile wallet is now fully integrated to the DELIVER Plus POS system.

Daily deposits to drivers' Today mobile wallet, paired with XTM's mobile app gives drivers access to their earnings daily. Earnings can be used in-store, online, at ATMs, to pay bills, send Interac eTransfers and more.

XTM completed the full integration with the DELIVER Plus POS software via its suite of published APIs. The integration makes use of restful API calls, allowing for the creation of account administrators, card holders and card management directly from the DELIVER Plus platform. DELIVER Plus users are not required to do any lifting in order to completely manage and move money to the Today program users. The XTM APIs are publicly available at https://apidocs.mytodaycard.com.

'The Today Solution effectively eliminates cash from each store's payout process,' said Marilyn Schaffer, CEO. 'Despite systemic dine-in restaurant closures in many areas due to COVID-19, XTM's food delivery business is doing a brisk business with many people opting to order-in a delicious Pizza pie for family nights.'

'We were looking for a partner in the gratuity and earnings payout space', said Kevin Keegan, President, DELIVER Plus. 'XTM turned out to be the right partner. Their engineering team worked competently and efficiently with our team. Our restaurants needed a quick and easy solution and the XTM team was able to deliver.'

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Square, Inc. (NYSE: SQ) reported back in November that it has entered into a definitive agreement with Credit Karma to acquire its tax business, Credit Karma Tax, on behalf of Cash App, the financial services app that allows individuals to spend, send, store and invest money. Square will pay USD 50 Million in cash for Credit Karma Tax, which provides a free, do-it-yourself tax filing service for consumers. "We created Cash App to provide more access to the masses of people left out of the financial system and are constantly looking for ways to redefine our customers' relationship with money by making it more relatable, instantly available, and universally accessible," said Brian Grassadonia, Cash App Lead. "That's why we're thrilled to bring this easy-to-use tax product to customers as we continue to build out the suite of tools Cash App offers. With this acquisition, we believe Cash App will be able to ease customers' burden of preparing taxes every year."

Bottomline Technologies (de), Inc. (NASDAQ: EPAY) announced yesterday that it has expanded corporate treasury capabilities as part of its integrated Payments and Cash Lifecycle Platform. The platform empowers financial managers to optimize cash, liquidity and working capital with a unified solution combining payables, receivables, and treasury management, delivering greater visibility and control throughout the end-to-end cash lifecycle. The integrated solution enables seamless management of a corporate's banking, payments and cash management activities, reducing the complexity and inefficiencies associated with multiple systems, separate processes and fragmented data. Bottomline's Payments and Cash Lifecycle Platform includes tools to initiate and manage payments, automate payables and receivables, conduct sophisticated cash flow forecasting and scenario planning, optimize liquidity and investment returns, and manage borrowing needs and banking relationships.

NCR Corporation (NYSE: NCR) reported last month he acquisition of grocery e-commerce leader Freshop. Adding e-commerce to NCR's leading retail core point-of-sale platform will give retailers, especially regional and small grocery chains, the ability to quickly deploy "buy-online, pickup-in-store" capabilities to serve their customers' needs directly. This combination enables retailers to build stronger customer relationships, strengthen their brands, and earn better margins than with third-party e-commerce providers. "As we continue to expand NCR's software and services-led offerings, the addition of Freshop to our retail platform creates more value for our customers and new capabilities for NCR to run the store," said Michael D. Hayford, president and chief executive officer, NCR Corporation.

Adyen N.V. (OTC: ADYEY) and Flywire, a high-growth vertical payments company, announced back in December a partnership which integrates Adyen into Flywire's global network of payment partners. The partnership is aimed at delivering the latest payment functionality to facilitate seamless customer journeys for students, patients, and global travelers. Together, Adyen and Flywire will bolster innovation in payments and drive process improvements for the vertical industries that the two companies collaboratively support, on a global basis. "The global recession triggered by COVID-19 has thrust payments into the spotlight. The ability to pay whenever and however they choose has become a pre-requisite for consumers looking for a familiar, secure and transparent payment experience, particularly for high-value expenses like tuition fees or a package holiday," said Darren Woodward, Senior Director of Payments, Global Cards Network.

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