XTM (PAID.C) onboarded its 251st franchised salon for its automated data collection solution added to their point-of-sale platform, effectively helping them go cashless to help stem the development of COVID-19.
XTM is a fintech company, offering a product called Tipstoday to restaurants and personal care services organizations to handle their tips and earnings payouts. They’ve since added hairstylists from the Regis Corporation (RGS.NYSE) family of brands to the mix, including companies such as First Choice Haircutters, Magic Cuts, Supercuts, Roosters and SmartStyle.
“With the risks associated with handling and distributing cash amid COVID-19, our solution just works for the many franchise owners looking to simplify and completely automate their gratuity and earnings disbursement process. Our POS integration removes any friction making the transition to cashless disbursements, quick, easy and efficient,” said Marilyn Schaffer CEO of XTM.
The solution gives all Regis franchisee salon owners the option to automate their tip and earnings structures using the today instant payments solution. The platform takes all earnings data and transfers funds to the stylists’ Today digital wallets and prepaid cards in real time at the end of each shift.
In the past few weeks XTM has added 235 franchise locations, including thousands of activated Today cards. By June 15, 2020, nearly 68% of Regis locations had reopened their doors post-COVID, and XTM is now reaching out for more business opportunities across Canada and the United States.
“We are all trying to create a safe environment for our customers and staff. 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,” said Luther Winchell, franchise owner of 26 salons.
—Joseph Morton