XTM Partners With The Bancorp Bank for U.S. Rollout
November 16 2021 - 7:30AM
Business Wire
XTM, Inc. (“XTM” or the “Company”) (QB:XTMIF /
CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech company in
the neo-banking space, providing mobile banking and payment
solutions for the hospitality and personal care industries
throughout North America, is pleased to announce that it is
partnering with The Bancorp, Inc. (NASDAQ:TBBK) and its subsidiary
The Bancorp Bank as its issuing bank for back-end banking services
and card issuing sponsorship for XTM’s instant employee payout
solution and banking app for the hospitality and personal care
services sectors.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211116005773/en/
Through this partnership with The Bancorp, XTM will extend the
successful launch of its Canadian Today™ Program with a tailored
solution for the U.S. market in Q4 of this year. Features of the
product will include issuance of virtual and physical Visa debit,
ACH, direct deposit, instant bank transfers, mobile check deposits,
cash deposits, surcharge free ATM, cash back rewards and more.
“When assessing banking partners The Bancorp was a clear
choice,” said Marilyn Schaffer, CEO. “Our mobile banking solutions
require innovative, responsive and cutting-edge banking support and
The Bancorp is the leader by far.”
The Bancorp provides tailored solutions through its Fintech
Solutions division and has become the top issuer of prepaid card
volume and accounts for over 300 billion combined annual payments
processing volume and over 150 million active accounts in U.S.
distribution.
“The Bancorp is excited to begin our partnership with XTM. Their
innovation and focus in supporting alternative payment options for
service and hospitality workers is unique and timely,” said Matt
Carberry, Managing Director, Head of Partner Strategy, The Bancorp.
“They have proven themselves a contender and we look forward to
supporting their next stage of growth.”
About XTM XTM, www.xtminc.com, is a Miami and
Toronto-based fintech innovator in the neo-banking space, helping
businesses and service workers in the hospitality and personal care
space disseminate and access earned wages and gratuities. XTM's
Today™ Solution, comprised of a free mobile app and a Visa or
Mastercard debit card with free banking features, is used by
thousands of restaurants, salons and staff across Canada and the
United States. XTM is a global card issuer and real-time payment
specialist and our technology is used by Restaurants and Salons at
no charge to automate and expedite worker payouts and eliminate
cash from their ecosystems. XTM's Today solution drives enterprise
value with efficiency and a bespoke user experience designed
specifically for restaurateurs and personal care services.
For further information please visit:
https://www.xtminc.com/
About The Bancorp The Bancorp, Inc. (NASDAQ:TBBK),
headquartered in Wilmington, Delaware, through its subsidiary, The
Bancorp Bank, provides non-bank financial companies with the
people, processes, and technology to meet their unique banking
needs. Through its Fintech Solutions, Institutional Banking,
Commercial Lending, and Real Estate Bridge Lending businesses, The
Bancorp provides partner-focused solutions paired with cutting-edge
technology for companies that range from entrepreneurial startups
to Fortune 500 companies. With over 20 years of experience, The
Bancorp has become a leader in the financial services industry,
earning recognition as the #1 issuer of prepaid cards in the U.S.,
a nationwide provider of bridge financing for real estate capital
improvement plans, an SBA National Preferred Lender, a leading
provider of securities-backed lines of credit, with one of the few
bank-owned commercial vehicle leasing groups. By its company-wide
commitment to excellence, The Bancorp has also been ranked as one
of the 100 Fastest-Growing Companies by Fortune, a Top 50 Employer
by Equal Opportunity Magazine, and was selected to be included in
the S&P Small Cap 600. For more about The Bancorp, visit
https://thebancorp.com/.
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.
Forward-looking information is not a guarantee of future
performance or results, since it involves risks and uncertainties.
There is no assurance that forward-looking statements will prove to
be accurate, and actual results and future events could differ
materially from those anticipated in forward-looking statements.
Some of the factors on which the forward-looking statements are
premised include (but are not limited to) the satisfaction or
waiver of the conditions to the completion of the private
placement, the receipt of the approval of the Canadian Securities
Exchange, and the lack of material changes to general economic,
market and business conditions. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211116005773/en/
Marilyn Schaffer 416.260.1641 finance@xtminc.com
Media Relations Rachel Weiss, VP Communications Manager The
Bancorp (302) 385-5410 rweiss@thebancorp.com
Investor Relations Andres Viroslav, Director of Investor
Relations The Bancorp (215) 861-7990 aviroslav@thebancorp.com
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