#PayTech / Fintech to install kiosks that exchange cash for prepaid Mastercard

XTM, a Toronto-based fintech company in the challenger banking space that provides mobile banking and payment solutions, will be installing cash-to-prepaid-card kiosks, or reverse ATMs, to large venues and stadiums across North America…

Users will insert bills into the kiosk and in less than 60 seconds the deposit will be applied to an EMV and contactless enabled Mastercard prepaid card.

The XTM kiosk features a 42-inch touchscreen that will provide promotion and advertising opportunities to be displayed when the kiosk is not in use.

The company’s XTM Today employee instant payout solution eliminates cash disbursements for tips and earnings.