New FinTech Solutions Grant Users More Control Over Their Funds

NEW YORK, Feb. 10, 2021 /PRNewswire/ -- Technological innovations have led to an explosion in the fintech market. The key reasons for its growth include the high investment in technology-based solutions by banks and various finance-oriented firms. Moreover, infrastructure-based technology and APIs are reshaping the future of the financial services industry, thus aiding the growth of the global fintech market. In addition, according to Research and Markets, financial technology companies are now delivering low-cost personalized products due to the emerging developments in the technology sector, leading to rising customer expectations, thereby, boosting the market growth globally. Overall, the global fintech market is anticipated to grow at a CAGR of around 20% during the forecast period. And, the market is expected to witness progressive growth and reach the market value of around USD 305 Billion by 2025. XTM, Inc. (CSE: PAID) (OTC: XTMIF), Ally Financial Inc. (NYSE: ALLY), Fidelity National Information Services, Inc. (NYSE: FIS), Fiserv, Inc. (NASDAQ: FISV), StoneCo Ltd. (NASDAQ: STNE)

A major related segment of fintech is digital payments. The rise of digital payments came into the spotlight once e-commerce began to take off. E-commerce became largely popular due to the fact that consumers could purchase products on their phones or computer from anywhere as opposed to stepping into a brick-and-mortar store. Now e-commerce sales are continuing to grow exponentially each year as consumers opt to shop online. Moreover, the technology also allows vendors and businesses to issue disbursements and refunds at a much faster rate. Overall, the improving accessibility and the rising acceptance of such solutions from corporations is further propelling the industry growth. Furthermore, the increasing proliferation of smartphones is expected to assist in driving the overall industry. And, according to Transparency Market Research, the global smartphone market is expected to reach USD 1.50 Trillion by 2026 while the global smartphone volume is projected to reach 3.28 billion.

XTM, Inc. (CSE: PAID) (OTC: XTMIF) announced yesterday breaking news that it plans to, "launch a direct deposit program to all of its Today™ Card Holders. The Today program has been adopted and rolled out to thousands of hospitality, personal care and food delivery staff through their employers as a way of eliminating cash from the gratuity and earning disbursements ecosystem.

As part of the Company strategy to deliver micro-credit, this direct deposit option will allow users to opt-in to have their wages direct deposited to their Today Mobile wallet and garner an increase in the amount available for overdraft. The Today Mobile app will allow users to print or email a void check whereby they can deliver a request to their employer to have their paychecks also deposited to the Today Mobile wallet. Depending on the frequency and amount of deposits, opt-in users will have access to various levels of overdraft from $20 - $250, for a nominal monthly fee.

The product name of XTM's micro-credit program is Moretoday.

'Our Today users have spoken and with overwhelming demand they have asked for a solution that provides them with short term access to funds through overdraft protection' said Marilyn Schaffer, CEO, XTM. 'Having visibility to funds flow and first access allows XTM a unique opportunity to provide a very inexpensive and low-risk solution for our quickly growing Today Card user base.'"

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Ally Financial Inc. (NYSE: ALLY) subsidiary, Ally Lending announced on October 27th, the availability of patient financing options at all locations of Milan Laser Hair Removal, the largest laser hair removal company in the United States. Hair treatment and removal is a billion-dollar industry in the U.S.1 with no signs of slowing down.  "There are so many health and wellness procedures that consumers avoid getting when they need them or put off altogether because of cost," said Hans Zandhuis, head of Ally Lending. "Together with our partners at Milan Laser, we're making it easier for people to access treatments in a more affordable way. Not only is the process fully digital, but also borrowers can get pre-qualified with zero impact to their credit."

Fidelity National Information Services, Inc. (NYSE: FIS) announced on February 1st, that its U.S. eCommerce Platform has been named the best-performing payments gateway for the second straight year by The Strawhecker Group (TSG) in its 2021 Real Transaction Metrics Awards.  "We are honored to be recognized by TSG as the best-performing payments gateway, as well as for the highest rate of authorizations and highest uptime," said Dan Brames, EVP and Head of North America Merchant Solutions at FIS. "We continue to invest significantly in our gateways and are committed to continuing to deliver world-class levels of speed and performance for our global merchants and eCommerce customers."

Fiserv, Inc. (NASDAQ: FISV) announced on January 22nd, the completion of its acquisition of Ondot Systems, Inc.  "Closing this transaction further expands our digital capabilities, enhancing our suite of integrated solutions to enable clients of all sizes to deliver frictionless, digital-first and personalized experiences to consumers," said Frank Bisignano, President and Chief Executive Officer of Fiserv.

StoneCo Ltd. (NASDAQ: STNE) announced on January 14th, that it has completed the issuance of R$580 million in FIDC ("Fundo de Investimento em Direitos Creditórios") quotas, raising R$493 million in third-party capital for its credit solution for SMBs in Brazil. This is an important milestone for Stone, which advances on its strategic roadmap to become a full financial platform for SMBs. This type of transaction will enable Stone to scale further its credit solution while limiting the credit risk exposure.

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