Payfare to Integrate with Plaid to Enable Digital Financial Services for the Gig Economy

TORONTO--(BUSINESS WIRE)--Payfare, Inc. (TSX: PAY), a leading fintech powering instant payout and digital banking solutions for the gig workforce, today announced it is integrating with Plaid, a data network powering the digital financial ecosystem.

Payfare powers faster, digital payments for some of the world’s largest on-demand platforms. In addition to instant access to earnings, its offerings also include full-service digital banking apps and payment cards with cash-back rewards and more.

Plaid enables consumers to connect financial accounts at over 11,000 institutions globally and more than 5,500 apps.

Payfare’s integration with Plaid will streamline onboarding for Payfare users by allowing them to swiftly and securely connect their account to the apps and services of their choosing. Payfare also plans to leverage its Plaid integration to enable new banking features and credit products that are currently under development for launch in early 2022.

“The expansion of our platform to include open banking is part of Payfare’s strategic growth plan to deliver new offerings to gig workers while opening up new revenue streams for the Company,” commented Marco Margiotta, CEO and Founding Partner of Payfare.

About Payfare (TSX:PAY)

Payfare is a global financial technology company powering digital banking and instant payment solutions for today's gig workforce. Payfare partners with leading platforms and marketplaces, such as Uber, Lyft and DoorDash, to provide financial health for their workforce.

For further information please visit www.payfare.com.