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

<< Previous

Bullboard Posts

Next >>

Post by lscfaon Sep 30, 2024 12:16am

700 Views

Post# 36246401

Competition

Competition

Payfare operates in a competitive industry with rivals like PayQuicker, Branch, Instant and many more. All of its competitors are private and not publicly listed on any stock exchanges. We can’t analyze their competitors’ financials, but we do know that the industry has high barriers to entry, such as the need for significant scale to remain profitable which shall protect the industry. For instance, Payfare reached profitability only after serving 1 million employees. Talk about having to hustle harder than a Uber driver on a Friday night!

https://medium.com/@benlambert1084/payfare-pay-tsx-the-gig-workers-financial-friend-and-your-next-investment-2f8583265504

<< Previous

Bullboard Posts

Next >>

BMO evolves InvestorLine with enhanced tools for options trading