Business wire
President Trump Vows to Deliver on ‘No Tax on Tips’ Campaign Promise During Las Vegas Speech on January 25, 2025
XTM’s AnyDay™ Earned Wage Access for Hospitality and Instant Tip-Out Calculator Solution Sees Surge in Demand Amid ‘No Tax on Tips’ Proposal
For more information please contact:
Jakob Ripshtein
finance@xtminc.com
416.260.1641
XTM Inc. (“XTM” or the “Company”) (OTC: XTMIF / CSE: PAID / FSE: 7XT), a fintech innovator specializing in payment solutions for the hospitality industry, is experiencing a surge in inbound interest for its AnyDay™ Earned Wage Access (EWA) platform and instant tip-out calculator solution. This interest follows President Trump’s recent commitment to eliminate taxes on tips, a policy that could significantly impact the hospitality sector.
Currently, XTM moves hundreds of millions of dollars in instant payments annually for restaurants, hotels, casinos, salons, and golf clubs across the U.S. and Canada. Its fully owned and SAP-certified issuing processor, combined with AnyDay’s real-time gratuity and Earned Wage Access technology, delivers a reliable, safe and seamless payment solution that thousands of hospitality businesses and workers rely on daily.
Speaking at a Las Vegas casino, President Trump reaffirmed his commitment to tax relief for service industry workers.
“If you’re a restaurant worker, a server, a valet, a bellhop, a bartender, or one of my caddies, your tips will be 100% yours. In the coming weeks, I’ll be working with Congress to get a bill on my desk that cuts taxes for workers, families, and small businesses—and, very importantly, keeps my promise,” said Trump. “We’re gonna get it for you—no tax on tips.”
(Read more: Bloomberg)
The policy change would mean employers are no longer required to withhold taxes on tips, removing a major administrative burden. XTM’s AnyDay™ platform offers a ready-made solution for businesses seeking to transition to a daily, tax-free tip payout system. With real-time tip pooling and instant payments, AnyDay™ enables employers to enhance recruitment and retention by ensuring service workers receive their tips instantly, at the end of each shift.
According to the U.S. Bureau of Labor Statistics, as of December 2023, 16.82 million people were employed in the U.S. hospitality and leisure industry. Median pay for full-service restaurant workers had risen to $23.88 per hour (including tips and base wages) by September 2024, reflecting a 28% increase since January 2020 (Source: ADP Research).
About XTM Inc.
XTM is a leading fintech company providing innovative payment solutions, including Earned Wage Access (EWA) and instant tip payouts, to businesses in the hospitality, personal care, and staffing industries. Its flagship product, AnyDay™, allows employees to access their earned wages on demand. XTM’s fully owned subsidiary, QRails, operates a cloud-based payment platform that powers on-demand pay solutions globally.
For more information, visit: xtminc.com
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