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Innovative Technology Allows Novel Integrated Payment Options to Spread


News provided by

FinancialBuzz.com

03 Feb, 2021, 14:00 GMT

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FinancialBuzz.com News Commentary

NEW YORK, Feb. 3, 2021 /PRNewswire/ -- With the emergence of online platforms, digital payment solutions have rapidly evolved throughout recent years. Typically, most payment providers advance their systems to send or receive funds quicker while providing top-line security. Meanwhile, the industry is largely being fueled by the changing demographic trends across the world. Specifically, millennials are responsible for the broad adoption of digital payment solutions, and as a generation that is heavily influenced by technology, their daily habits are intertwined around their phones, computers, and the internet. "What remains key is consumer choice. People want a frictionless experience, taking the path of least resistance, just as long as they can remain secure," said Bill Gajda, Global Head, Innovation & Strategic Partnerships at Visa. "Millennials will continue to drive mobile money management and payments. More than nine in ten (91%) predict that they will be using their mobile devices for financial purposes in three years' time, far above the national average of 72%." XTM, Inc. (CSE: PAID) (OTC: XTMIF), Square, Inc. (NYSE: SQ), Bottomline Technologies (de), Inc. (NASDAQ: EPAY), NCR Corporation (NYSE: NCR), Adyen N.V. (OTC: ADYEY)

In addition, various non-banking institutions are now focusing on leveraging innovative technology to improve user experience and provide better digital payment options. For example, non-banking institutions such as Amazon.com, Inc. and Alibaba are offering payment solutions and services to their customers. Additionally, the Internet of Things (IoT), cloud computing, tokenization, biometrics, and ubiquitous connectivity are all among the tech trends that were very beneficial to digital payment sector are, and all of which are expected to shape the way consumers transact in the future. Overall, the global digital payments market size is expected to reach USD 132.5 Billion by 2025 while registering a CAGR of 17.6% from 2019 to 2025, according to a new report by Grand View Research.

XTM, Inc. (CSE: PAID) (OTC: XTMIF) announced yesterday that, "it went live following integration of the XTM Fintech Platform to the DELIVER Plus Point-of-Sale System.

DELIVER Plus is currently installed in pizza and other QSR restaurants in the USA and Canada. The DELIVER Plus team is organized around pizza POS and Pizza Hut specific markets.

With cash declining at a record pace in food delivery and quick serve restaurant (QSR) environments, now more than ever, workers need instant access to their pay. XTM's Today™ Card and mobile wallet is now fully integrated to the DELIVER Plus POS system.

Daily deposits to drivers' Today mobile wallet, paired with XTM's mobile app gives drivers access to their earnings daily. Earnings can be used in-store, online, at ATMs, to pay bills, send Interac eTransfers and more.

XTM completed the full integration with the DELIVER Plus POS software 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 DELIVER Plus platform. DELIVER Plus users are not required to do any lifting in order to completely manage and move money to the Today program users. The XTM APIs are publicly available at https://apidocs.mytodaycard.com.

'The Today Solution effectively eliminates cash from each store's payout process,' said Marilyn Schaffer, CEO. 'Despite systemic dine-in restaurant closures in many areas due to COVID-19, XTM's food delivery business is doing a brisk business with many people opting to order-in a delicious Pizza pie for family nights.'

'We were looking for a partner in the gratuity and earnings payout space', said Kevin Keegan, President, DELIVER Plus. 'XTM turned out to be the right partner. Their engineering team worked competently and efficiently with our team. Our restaurants needed a quick and easy solution and the XTM team was able to deliver.'

For our latest "Buzz on the Street" Show featuring xtm, inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=teicMjo6ZYY

Square, Inc. (NYSE: SQ) reported back in November that it has entered into a definitive agreement with Credit Karma to acquire its tax business, Credit Karma Tax, on behalf of Cash App, the financial services app that allows individuals to spend, send, store and invest money. Square will pay USD 50 Million in cash for Credit Karma Tax, which provides a free, do-it-yourself tax filing service for consumers. "We created Cash App to provide more access to the masses of people left out of the financial system and are constantly looking for ways to redefine our customers' relationship with money by making it more relatable, instantly available, and universally accessible," said Brian Grassadonia, Cash App Lead. "That's why we're thrilled to bring this easy-to-use tax product to customers as we continue to build out the suite of tools Cash App offers. With this acquisition, we believe Cash App will be able to ease customers' burden of preparing taxes every year."

Bottomline Technologies (de), Inc. (NASDAQ: EPAY) announced yesterday that it has expanded corporate treasury capabilities as part of its integrated Payments and Cash Lifecycle Platform. The platform empowers financial managers to optimize cash, liquidity and working capital with a unified solution combining payables, receivables, and treasury management, delivering greater visibility and control throughout the end-to-end cash lifecycle. The integrated solution enables seamless management of a corporate's banking, payments and cash management activities, reducing the complexity and inefficiencies associated with multiple systems, separate processes and fragmented data. Bottomline's Payments and Cash Lifecycle Platform includes tools to initiate and manage payments, automate payables and receivables, conduct sophisticated cash flow forecasting and scenario planning, optimize liquidity and investment returns, and manage borrowing needs and banking relationships.

NCR Corporation (NYSE: NCR) reported last month he acquisition of grocery e-commerce leader Freshop. Adding e-commerce to NCR's leading retail core point-of-sale platform will give retailers, especially regional and small grocery chains, the ability to quickly deploy "buy-online, pickup-in-store" capabilities to serve their customers' needs directly. This combination enables retailers to build stronger customer relationships, strengthen their brands, and earn better margins than with third-party e-commerce providers. "As we continue to expand NCR's software and services-led offerings, the addition of Freshop to our retail platform creates more value for our customers and new capabilities for NCR to run the store," said Michael D. Hayford, president and chief executive officer, NCR Corporation.

Adyen N.V. (OTC: ADYEY) and Flywire, a high-growth vertical payments company, announced back in December a partnership which integrates Adyen into Flywire's global network of payment partners. The partnership is aimed at delivering the latest payment functionality to facilitate seamless customer journeys for students, patients, and global travelers. Together, Adyen and Flywire will bolster innovation in payments and drive process improvements for the vertical industries that the two companies collaboratively support, on a global basis. "The global recession triggered by COVID-19 has thrust payments into the spotlight. The ability to pay whenever and however they choose has become a pre-requisite for consumers looking for a familiar, secure and transparent payment experience, particularly for high-value expenses like tuition fees or a package holiday," said Darren Woodward, Senior Director of Payments, Global Cards Network.

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About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For xtm, inc. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

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