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PR Newswire is an important news source that can be accessed via the X-Billboard. It is part of the Newswire Hub, which bundles important international news sources for stock market participants in one central location. If you want to get a quick overview, you can easily scroll through the headlines. If you want to look at the news in more detail, you can use the detailed views of the info cards to directly access the respective news item and other analysis tools.
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State: 17.08.2024 | 11PM
Thu, 26.09.2024       Payfare
CA70437C1095

TORONTO, Sept. 26, 2024 /PRNewswire/ - Payfare Inc. (TSX: PAY) (OTCQX: PYFRF), a leading international Earned Wage Access ("EWA") company powering instant access to earnings and digital banking solutions for workforces, today announced that its core services agreement related to DoorDash, Inc.'s DasherDirect card program will not be renewed beyond the current term in early 2025.

DasherDirect is currently Payfare's largest program, and the revenue derived from the program has been a substantial proportion of Payfare's total revenues. As such, Payfare is withdrawing its previously issued 2024 financial guidance for revenue and earnings, as the Company and DoorDash establish a transition plan to begin in the fourth quarter of 2024. Both parties are expected to work collaboratively during the remainder of the term.

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