XTM and Everyday People Payments Obtain CCAA Protection

On February 27, 2026, XTM Inc. and Everyday People Payments Inc. obtained initial protection under the Companies’ Creditors Arrangement Act following regulatory concerns about a shortfall in trust funds associated with the platform. Existing secured lender Pateno Payments Inc. is providing debtor-in-possession financing to support the companies’ operations and restructuring efforts, while Digital Commerce Bank is providing payment processing support. Fuller Landau Group was appointed as Monitor.

XTM and Everyday People Payments operate the Everyday Payments platform, which enables Canadian hospitality businesses to distribute employee tips electronically. Recent financial disclosures indicated a growing gap between restricted cash and program deposit obligations owed to merchants and cardholders. Prior to the filing, the Bank of Canada issued a supervisory order directing XTM to cease retail payment activities, and trading of its shares on the Canadian Securities Exchange was halted. The court’s Initial Order permits limited operations under Monitor supervision and establishes strict safeguards to protect merchant funds.

Aird & Berlis is acting for Pateno Payments Inc. and Digital Commerce Bank with a team including Richard Epstein and Shaun Parsons (Financial Services).