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    PAY   CA70437C1095

PAYFARE INC.

(PAY)
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Payfare : to Integrate with Plaid to Enable Digital Financial Services for the Gig Economy

10/21/2021 | 07:02am EST

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.


ę Business Wire 2021
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Financials
Sales 2021 40,2 M 32,1 M 32,1 M
Net income 2021 -22,8 M -18,2 M -18,2 M
Net Debt 2021 - - -
P/E ratio 2021 -12,9x
Yield 2021 -
Capitalization 340 M 273 M 271 M
Capi. / Sales 2021 8,46x
Capi. / Sales 2022 3,76x
Nbr of Employees -
Free-Float 80,1%
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Technical analysis trends PAYFARE INC.
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TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
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Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 7,35 CAD
Average target price 13,83 CAD
Spread / Average Target 88,2%
EPS Revisions
Managers and Directors
Marco Margiotta Chairman & Chief Executive Officer
Charles Park Chief Financial Officer
Kamran Haidari Chief Technology Officer
Brian Miller Chief Operating Officer
Paul Haber Lead Independent Director
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