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HomeBankingPayfare: Announces Intention to Expand into Earned Wage Access Market

Payfare: Announces Intention to Expand into Earned Wage Access Market

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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

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