Payfare appointed Mr. Chris Seip as Chief Executive Officer. Mr. Seip was the former Chief Operating Officer and Head of Investor and Treasury Services for RBC. The company also announced the addition of Mr. Charles Park as the Chief Financial Officer.

Mr. Park is a Chartered Accountant, Certified Internal Auditor and Certified Public Accountant. After staring his career at PricewaterhouseCoopers LLP, Mr. Park has held several finance leadership positions at growth-oriented technology, financial services and telecom companies including TeraGo Networks Inc., Kobo Rakuten Inc., Mobilicity and Bank of Montreal. Mr. Paul Haber is expected to serve as the independent lead director of the resulting issuer.

Mr. Seip thanked Fareed Sheik for his assistance and contribution to the company by taking on the role of interim CFO prior to the hiring of Mr. Park.