Canadian Fintech XTM Set to Offer Micro-Credit & Credit-Score Build/Report to Today Cardholders


XTM, a Canada-based fintech that provides mobile banking and payment card solutions, announced on Thursday its plan to offer micro-credit to its Today Cardholder community. According to XTM, 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 earnings disbursement ecosystem.

“With an opt-in via the Today mobile app, each subscriber will be given access to their credit score in real-time and in-app credit-building tips to help increase their credit score.  The service will be offered free of charge for the first 60-days followed by a small monthly subscription fee.  Repayment of the overdraft is made each time the user receives a new deposit from their employer.”

While sharing more details about the program, Marilyn Schaffer, CEO of XTM, stated:

“Our Today users are a dynamic group of people looking to enhance their credit score, enabling them to take advantage of credit opportunities such as loans and mortgages. XTM is a Fintech innovator and we are committed to our roadmap of driving exceptional value to our users.  This announcement reflects our response to our users’ quest for financial inclusion.”

XTM’s program is in beta stage and expects a full roll-out by the second quarter of 2021.

Founded in 2006, XTM acquired, developed, and integrated solutions businesses of every size, which includes challenger banks, credit unions, consumers, and governments. The company’s goal is to disrupt traditional banking with its white-labeled mobile wallet, banded Visa and Mastercard solutions, and platform.

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