TORONTO: XTM, Inc. (XTM or the Company) (CSE: PAID) (FSE: 7XT), a Toronto-based Fintech company in the neo-banking space, providing mobile banking and payment solutions around the world announces an update on XTM's product and launch of its Vert Visa credit card.

Further to the Company's news release on November 20, 2020, the Vert Visa program allows applicants to establish or re-establish their credit without relying on their credit score to obtain approval. With a bank account, a monthly source of income and confirmation that the applicant is not in the middle of a bankruptcy, approval percentage is 91.8% with a median credit approval amount of $386 dollars.

Upon sign-up, applicants link their bank account using digital banking embedded in the Vert mobile application. This allows the Company to analyze one full year of banking transactions, including deposit history, and in real-time instantly approve and adjudicate a credit amount, using proprietary artificial intelligence, without pulling a credit file.

The Company will realize an average revenue per user (ARPU) of $5.83 per month net of all processing and capital costs despite the possible scenario of a cost of capital of 12% APR due to high default and bad-debt rates.

The Company has seen significantly meaningful sign-ups in the past 30 days via the website www.myvertcard.com. Based on this tremendous response and demand, the Company has expanded its discussions with large lenders to provide the Company with a larger lending facility to meet demand.

The tremendous response to this offering solidifies our strategy that this demographic has long been underserviced and neglected by the existing credit-card issuers, commented Marilyn Schaffer, CEO. We intend to disrupt the cycle of good people looking for credit being denied due to old legacy approval requirements.

XTM Provides Update on its Vert Visa Credit Card Providing Underbanked Access to Credit

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