Easy Payment at Check Out Means Greater Point of Sale Spend Resulting in Increased Interchange Revenue
XTM, Inc. a Miami and Toronto-based Fintech company in the neo-banking space, providing mobile banking and payment solutions around the world, is pleased to announce the roll out of Apple Pay and Google Pay to U.S. Today™ program users.
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Apple Pay and Google Pay allow all Today Card holders to use their Apple or Android devices to make payments at the point of sale (“POS”). At checkout, the merchant prompts the customer to hold their enabled device near the merchant’s payment terminal or reader and the payment will be securely completed using NFC technology. Apple states that Apple Pay is already accepted at more than 90 percent of US retailers.
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As previously announced, XTM has been working diligently rolling out more than 100K mobile wallets and by adding Apple Pay and Google pay to the Today program it will not only enhance the offering with convenience, but it will promote POS spend and in turn enable XTM to increase its interchange revenue percentage when calculating as a percentage of gross dollar value loads (“GDV”).
“We have two primary priorities — our customers and our shareholders — critical to our success,” said Marilyn Schaffer, CEO, XTM. “Providing the best customer experience and delivering convenient and secure payment options for all Today program members delivers on both priorities, generating happy customers and higher revenue.”
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