Integration Results in Instant Payment of Gratuities as well as Earned Wage Access and Additional Earnings

XTM Inc. (“XTM” or the “Company”) (QB: XTMIF / CSE:PAID / FSE:7XT), a Miami and Toronto-based Fintech creator of disruptive payment innovations is pleased to announce that it has officially integrated and merged XTM’s Today tipping solution into the QRails’ AnyDay Earned Wage Access (EWA) solution for its US clients resulting in an additional feature roll-out opportunity for large strategic partners such as SAP, Discover and Veritas Prime.

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QRails powerful AnyDay™ solution now enables the power of daily payment of gratuities -- no more waiting for payday for hospitality staff across the U.S. Tips and Earnings are paid every day by AnyDay. (Photo: Business Wire)

Employees in the U.S. who traditionally receive their gratuities as part of their paychecks, no longer need to wait a pay cycle to receive their gratuities. Through the AnyDay^TM Payments platform, enabled by XTM’s technology, employers can now leverage this solution for improved recruitment and retention. This creates new opportunities for XTM’s current US pipeline of Human Capital Management and Payroll partners who have been eagerly waiting for this solution since the close of the QRails acquisition on August 21^st, 2023.

"XTM's tipping solution has been relieving the financial burden for more than 80,000 hardworking employees in Canada on a daily basis,” says Cary Strange, President , XTM. “Combining the ability to receive daily tips with the AnyDay^TM Earned Wage Access app addresses pent-up demand within the hospitality industry in the U.S. and our team is ready to fill the gap."

The combined solution is now in use with a variety of XTM clients across the U.S.

The AnyDay^TM mobile wallet and debit card creates a robust retention tool and includes a client portal with added features that support financial and accounting teams for seamless reporting and reconciliation. The valuable processing and issuing tech stack provides employers with a secure, efficient and effective way to distribute earnings, instantly.

This technology integration is the start of the advantages to be realized of consolidating the resources of XTM and QRails in the areas of sales & marketing, onboarding, customer service and product development.

The merged companies are currently in talks with large hospitality groups in the U.S. that will help quickly scale the integrated solution and further position XTM as the only vertically integrated platform offering real-time payments for a variety of workers’ earnings.

About XTM

XTM is a Miami and Toronto-based fintech innovator founded in the cloud-banking space and further helping businesses inspire their workforce in the hospitality, personal care and services staffing industries. Established as a leader in on-demand pay with many large brands including Earls, Maple Leaf Sports & Entertainment, Cactus Club, Marriott Hotels and Live Nation, XTM continues to innovate with further digital featurization to support businesses to inspire workers to want to work more with shift scheduling and call-outs, staff management, expense management, in-app health and financial wellness; and gamified loyalty programs. XTM’s Today Financial™ is in use through POS and Payroll integrations and directly through web portals by thousands of businesses and their workers across Canada and the United States. For more information, please visit www.xtminc.com.

About QRails

QRails is a cloud-based, API-driven issuer-processor enabling payroll providers, financial institutions and other global fintech companies to keep up with the on-demand economy by delivering innovative digital payment solutions to their employees. QRails helps companies modernize and leverage payroll as a differentiator in attracting and retaining talent all at low to no cost for the employee and employer. QRails’ flagship solution, AnyDay^TM, is the first provider to own their full tech stack that powers their Earned Wage Access solution.

SAP-certified, QRails also has earned several industry certifications under PCI DSS, and SOC. For more information, please visit www.QRails.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, including statements relating to the integration of QRails and its employees, technology and efficiencies into the business of the Company, the Company gaining operational momentum and commercial efficiencies as a result of the Transaction, and the ability of the QRails to collaborate with the Company and for the Company to continue servicing its current new clients and QRails clients, the Company expanding its services and client base, the Company benefiting from efficiencies from the Transaction, the Company securities based incentive plans attracting and retaining employees and management, and the speed and scale of the Company expanding into different markets. 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.

While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the Company’s ability to raise capital; the Company’s ability to integrate QRails and its technology into the business of the Company, the maintenance of existing operations of QRails in its current markets and capacity to scale into new markets, market acceptance and demand of the QRails technology and related products, the success of securities based incentive plans and retaining and attracting employees, the effects of general economic conditions, changing foreign exchange rates and actions by government and regulatory authorities, the effects of COVID-19, both positive and negative, the future of the market for XTM programs and misjudgments in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include risks associated with the impact of general business and economic conditions, the ability of the Company to successfully integrate QRails into its existing operations and gaining efficiencies, if any, from collaboration; unexpected changes in market and technological trends and governmental policies and regulations affecting the Company, XTM’s ability to continue onboarding clients, risks related to global pandemics, influence of macroeconomic developments, business opportunities that become available to, or are pursued by XTM; reduced access to debt and equity capital, litigation, increasing interest rates, the volatility of the stock market, competition, future sales or issuances of debt or equity securities, use of proceeds, dividend policy and future payment of dividends, liquidity, and the market for XTM’s securities. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws. For the reasons set forth above, undue reliance should not be placed on forward-looking statement.

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