Payfare Announces Grant of Options and Restricted Share Units

TORONTO, April 13, 2021 /CNW/ — Payfare Inc. (“Payfare” or the “Company“) (TSX:PAY) announces that it granted on April 12, 2021 an aggregate of 156,000 restricted share units (“RSUs“) and 1,330,000 stock options (“Options“) to certain directors, officers and employees of the Company in accordance with the Company’s incentive compensation plan which was approved by the shareholders of the Company on March […]

Payfare Announces Exercise of Over-Allotment Option in Connection with IPO Bringing Total Gross Proceeds to $75.2 Million

Toronto, Ontario, April 6, 2021 – Payfare Inc. (“Payfare” or the “Company”) (TSX:PAY) is pleased to announce that, further to its recently completed initial public offering (the “Offering”) of an aggregate of 10,900,000 Class A common shares (the “Common Shares”) at a price of $6.00 per Common Share (the “Offering Price”), the over-allotment option granted by the […]

Payfare Releases 2020 Financial Results and Provides Business Update on 2021 Developments

Toronto, Ontario, April 1, 2021 – Payfare Inc. (“Payfare” or the “Company”) (TSX:PAY) a financial technology company powering digital banking and instant payout solutions for the global gig economy announced updates to its business operations following filing of its Year End 2020 Audited Financial Statements (“Statements”) and Management Discussion and Analysis (“MD&A”) for the year ending December 31, 2020. A comprehensive […]

Payfare Welcomes New Board Members

Toronto, Ontario, March 25, 2021 – Payfare Inc. (“Payfare” or the “Company”) (TSX:PAY) a financial technology company powering digital banking and instant payout solutions for the global gig economy wishes to welcome its new directors to the Payfare board (the “Board”).  On March 8, 2021 the Company held an Annual and Special Meeting of Shareholders […]

Payfare Completes Initial Public Offering

Toronto, Ontario, March 19, 2021 – Payfare Inc. (“Payfare”) (TSX:PAY) today successfully closed its previously announced initial public offering (the “Offering”) of 10,900,000 Class A common shares (“Common Shares”) at a price of $6.00 per Common Share (the “Offering Price”) for total gross proceeds of C$65,400,000. Payfare will use the net proceeds from the Offering […]

A Message From Our CEO

The nature of work in the 21st century is rapidly evolving. Underlying the modern workforce is a continuing unbroken thread: people gain connection, purpose and dignity from their jobs. Our purpose is to enable the world’s leading on-demand economy platforms to deliver financial security and peace of mind to their often under-banked workforces. Conceptualized in […]

DoorDash & Payfare partner to launch DasherDirect Visa card & mobile banking app

First financial platform for Dashers will include no-fee daily direct deposits, cash-back rewards and convenient banking functionality SAN FRANCISCO and TORONTO, December 14, 2020 – DoorDash (NYSE: DASH) and Payfare are pleased to announce the launch of the DasherDirect platform, a banking solution for DoorDash delivery drivers (Dashers) offering a Business Prepaid Visa Card and […]

Supporting a changing workforce: real-time payments and the gig economy

All around the world, the gig economy is becoming a mainstay. The proliferation of on-demand services and the sharing economy are transforming the way we live, work, and spend money. At the same time, flexibility and independence are playing a much more prominent role in how people choose to structure their working life. Indeed, freelancers […]

Adapting Worker Payments To The On-Demand Era

Some accounts say Roman soldiers were periodically paid for their labors in salt, and while compensation methods have evolved considerably since then, the concept of lump periodic payments has endured. Numerous economic, social and technological trends are rendering this system more outdated, however. Consumers have come to expect on-demand service when they watch movies, make […]

What Gig Workers Want

Consumer research shows they want flexibility in how and how fast they get paid Consumer research shows they want flexibility in how and how fast they get paid Gig workers are used to autonomy and flexibility in when, how and where they work. It’s no surprise they crave that same leeway in how and how […]