Payfare: Announces Intention to Expand into Earned Wage Access Market
- Payfare, a fintech powering instant payout and digital banking solutions for the gig workforce
- It plans to use its technology-forward card issuance and digital wallet platform to provide employees
- The TAM in the US for EWA is significant, with over 131 million people earning less than $75K annually and 78 million hourly wage workers
- It believes that providing access to wages already earned can assist workers in personal budget shortfalls
- Employers offering EWA programs can benefit from increased worker retention and satisfaction
- With over 1 million active users and experience in partnering with the largest global gig platforms
