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Payfare Inc T.PAY

Alternate Symbol(s):  PYFRF

Payfare Inc. is a Canada-based international Earned Wage Access company powering instant access to earnings through a digital banking platform for the workforce. It partners with e-commerce marketplaces, payroll platforms and employers to provide financial security and inclusion for all workers. It partners with platforms and marketplaces, such as Uber, Lyft and DoorDash. It provides services to gig workers and businesses. The Company operates in two geographical areas: Canada and USA. It provides 1099 and contract workers with instant access to their earnings and a digital banking service. It offers a full application programming interface suite and a turn-key private label solution. It provides multiple worker payout options, like on-demand or automatically each day or after each task, shift or sale. It provides services to various workforces of all sizes, including trades and construction, hospitality, rideshare, healthcare, home services, creators, trucking and freelance.


TSX:PAY - Post by User

Payfare Inc > Reaction
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Comment by psmithon Sep 29, 2024 8:25pm
160 Views
Post# 36246314

RE:RE:Reaction

RE:RE:Reactionfron MD&A last Q

Customer concentration risk is the risk whereby the Company’s ongoing business is materially dependent on one or a small
number of clients. At present, the Company is largely economically dependent on its payment services agreement with
DoorDash. A loss or non-renewal of this payment service agreement would have a significant financial impact on the
Company. The Company is mitigating the counterparty risk by initiating business diversification strategies and the
implementation of new customer prefunded instant payment solution programs and services
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