XTM Inc. has temporarily ceased its business portal platform and all retail payment activities, including withdrawals, in response to a compliance order issued by the Bank of Canada on February 17, 2026, stemming from an ongoing service outage that began on January 26, 2026. The Company will also cease operations as a payment service provider registered with the Bank of Canada.
The service disruption is linked to a Management Services Agreement (MSA) with Everyday People Financial Corp, initially disclosed on October 22, 2025. As part of this MSA, XTM Inc. executed a blocked account agreement on November 30, 2025, which restricted its ability to move funds. At the time control of accounts was transferred to Everyday People Financial Corp. at 11:59 pm on November 30, 2025, wallet balances totaled $12,830,224.20.
Since January 26, 2026, many business users have been unable to transact from their business portal due to funding practices being modified without notice or specific instructions from XTM Inc. The Company is investigating the operational impact of these unauthorized modifications, which include the cessation of lending activity and disruptions to certain balancing procedures. The use of pre-authorized debits without XTM Inc.’s specific instructions is also under investigation.
In compliance with the Bank of Canada’s order, XTM Inc. is expected to provide a plan within seven days of the Order date detailing how it intends to meet its obligations under the Retail Payment Activities Act (RPAA) or transition its retail payment activities to another RPAA-registered or applicant provider. XTM Inc. also has 14 days from the Order date to make representations to the Bank of Canada regarding the revocation of the Order.
Separately, cardholder funds for Everyday People Payments Financial debit cards, which contribute significantly to XTM Inc.’s revenues, have been held in trust with a Canadian Schedule 1 Chartered bank since the program’s inception in 2020. XTM Inc., including its board of directors, legal counsel, and accountants, is evaluating all available options, such as securing a new lending facility, exploring various financing or restructuring arrangements, and developing a plan to restore merchant wallet balances.
The trading of XTM Inc.’s common shares, under the ticker “PAID” on the CSE, remains halted. XTM Inc., a Toronto-based fintech enabler, is the founder of AnyDay®, a real-time payroll, tip, and earned wage access platform designed for the hospitality, personal care, and retail sectors.
