XTM, a Canada-based fintech that provides mobile banking and payment card solutions, announced on Friday it is set to launch its payment solution as a continuation of the Black Fox restaurant management tracking app.
According to XTM, BlackFox is an application developed exclusively for restaurant and bar managers and servers. The company’s cash-out process provides managers with calculation and management of tip-outs, tip reporting management of due-backs and reporting to accounting. Clients include Franworks, a Canadian hospitality groups in the casual dining segment, State & Main, The Keg, Original Joes, and the Rowden Group.
“XTM’s integration with BlackFox app is completed via its suite of published APIs. The integration makes use of restful API calls, allowing for the creation of account administrators, card holders and card management directly from the BlackFox platform. BlackFox users are not required to do any lifting in order to completely manage and move money to the Today program users.”
XTM also noted that restaurant staff use the Today mobile app and prepaid card as they would any challenger or neo bank solution with a free mobile bank account and a paired app that empowers bill pay, online commerce, card-present point-of-sale, card-to-card transfer, ACH and eTransfer and more. Marilyn Schaffer, CEO of XTM, then shared:
“The Today Solution works beautifully with the sophistication of BlackFox’ app. BlackFox solves the tip-out calculations, reporting and accounting problems and we deliver the staff earnings; poetry in motion.”
Dirk Britton, CEO of BlackFox, added:
“We were looking for a way to further the benefits of our solution within the restaurant space. XTM already owns the earnings payout space so it made the most sense for best-of-breeds to collaborate for the ultimate solution.”
