Hospitality businesses in the province that use the Canadian tip-pooling software platform have complained of balance shortfalls, difficulty withdrawing funds and problems using prepaid cards used to distribute tips to employees, according to an advisory the Ontario Restaurant Hotel and Motel Association issued to members on Thursday. (The Logic)
Talking point: Dozens of B.C. restaurants have also reported millions of dollars missing from the platform. Everyday Payments is a jointly owned subsidiary of two Canadian fintechs—Edmonton’s Everyday People Financial (EPF) and Toronto’s XTM. In an email, EPF spokesperson Shannon Donogh told The Logic XTM controls the bank accounts with merchant funds. EPF changed the balances in the user wallets “to reflect the actual cash available in the settlement accounts,” Donogh said. Asked for a response, XTM CEO Marilyn Schaffer said she was consulting with the company’s lawyers.
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