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.

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Payfare Inc > Mathieu Martin - Stocks and Stones - The Bad

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Comment by malx1on Oct 02, 2024 2:46pm

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Post# 36250428

RE:Mathieu Martin - Stocks and Stones - The Bad

Possibleidiot01 wrote:
The Ugly

Payfare (TSX: PAY), an international earned wage access (EWA) platform, announced that DoorDash, its largest customer, would not renew its agreement beyond the current term in early 2025. While not disclosed, I've seen estimates that DoorDash represented 60% to 80% of Payfare's revenues. The stock was taken to the woodshed, losing 75% of its value the next day. It now trades at the cash value on its balance sheet (essentially assigning zero value to the operating business). Payfare announced a strategic review process to enhance shareholder value a few days later.