XTM, Inc. (“XTM” or the “Company”) (CSE: PAID) (FSE: 7XT), a global fintech company providing mobile banking and payment solutions around the world is pleased to announce that it has completed the technology build enabling automated data collection from Regis Corporation point of sale (POS) and salon management platform facilitating instant earnings payouts to the Today™ card and digital wallet. Regis Corporation (NYSE: RGS) has more than 7,000 franchised, owned or held ownership interests in salons throughout North America and is the largest hair salon chain in the world. Some of their brands include Supercuts®️, SmartStyle®️, Cost Cutters®️, Roosters®️ and First Choice Haircutters®️.
The solution allows all Regis Corporation Franchisee Salon owners the ability to completely automate the payout of gratuities and earnings using the Today™ instant payments solution. At the end of each shift, the XTM platform automates the collection of all earnings data and transfers funds to the stylists’ Today digital wallets and prepaid card, in real-time.
In just a few weeks XTM on-boarded 235 franchise locations representing thousands of issued and activated Today cards with significant daily loads. As at June 15, 2020 approximately 68% of the Regis Salon portfolio locations have re-opened from hibernation caused by the COVID-19 pandemic and XTM is receiving a growing number of commitments from more franchise locations across Canada and the US.
“With the risks associated with handling and distributing cash amid COVID-19, our solution just works for the many Regis franchise owners looking to simplify and completely automate their gratuity and earnings disbursement process,” said Marilyn Schaffer CEO, XTM. “Our POS integration removes any friction making the transition to cashless disbursements, quick, easy and efficient.”
“We are all trying to create a safe environment for our customers and staff” said Luther Winchell, Regis Corp Franchise owner of 26 salons. “XTM’s solution allows us to eliminate the need to handle cash, keep same day payouts and reduce time spent managing disbursements to our hard-working stylists.”