Payfare and Stride Bank Join Forces to Expand Real-Time Payment Options for the U.S. Concert Economy Workforce


TORONTO, September 28, 2021 / PRNewswire / – Tariff (TSX: PAY) is pleased to announce that it is expanding its partnership with Stride Bank to offer additional real-time payment options to concert platforms and their workforce. Payfare, a leading fintech offering instant payment and digital banking solutions for contract workers, and Stride Bank to leverage RTP from The Clearing House® network to provide fast and secure payments to workers in the US-based gig economy 24 hours a day, seven days a week.

Payfare, which works with some of the world’s largest on-demand platforms, will be among the first to use the RTP network to support gig worker payments. By connecting to the RTP network through Stride Bank, Payfare has the ability to support payments to bank accounts immediately with improved speed and security, providing more choice for its business customers and users. Payments over the RTP network are settled within seconds, providing immediate confirmation and availability of funds. In addition, since the RTP network is always operational, payments can be sent and received after banking hours, on weekends and on public holidays.

“We are excited to add real-time payment capabilities to Payfare’s existing digital banking and payment solutions,” said Marco margiotta, CEO and founding partner of Payfare. “Our mission is to strengthen the financial security of every worker together. As the gig economy continues to grow, the broad reach of the RTP network will help us evolve our solution while providing fast and secure options for our partners and the gig workers we support. “

“While workers increasingly want more autonomy to decide how, when and where they work, they also want more control and flexibility over how they are paid,” said Steve ledford, Senior Vice President of Strategy and Product Development at The Clearing House. “The RTP network is designed to be a platform to support innovation, and Payfare and Stride Bank will provide our country’s growing gig economy with more choice and convenience in the earned wages industry.”

About Stride Bank

Founded in 1913, Stride Bank is a Oklahomabased financial institution that owns more $ 1.17 billion in assets. Offering a full range of financial services such as personal and commercial banking, mortgages, wealth management and cash management, we have also developed and currently manage highly specialized payment solutions for several national fintech companies. While we are steadfast in our quest to continue to innovate and deliver new financial solutions, we will always remain true to our community banking roots in Oklahoma. We have branches everywhere Oklahoma in Enid, Tulsa, Oklahoma City, Bartlesville, Blackwell, Woodward, and Mooreland. FDIC member. Equal housing lender. Learn more about www.stridebank.com.

About the clearing house

The clearinghouse operates US-based payment networks that clear and settle more than $ 2,000 billion daily by wire transfer, ACH, check image and real-time payments. It is the most experienced payments company in the country, with a long history of delivering secure and reliable systems, payments innovation and strategic thought leadership to financial institutions. More recently, The Clearing House revolutionized the payments infrastructure in the United States with the RTP® network, which supports immediate payment clearing and settlement, as well as the ability to exchange associated payment information through the same secure channel. These RTP capabilities enable all financial institutions to deliver safer, faster and smarter digital transaction services to their corporate and retail customers. Learn more about www.theclearinghouse.org.

About Payfare

Payfare (TSX: PAY) is a global financial technology company providing digital banking and instant payment solutions for today’s odd-job economy. Payfare partners with leading platforms and markets, such as Uber, Lyft, and DoorDash, to provide financial security and inclusion to their workforce.

For more information please visit www.payfare.com or contact:

Lindsey Abshire
(647) 417-4788
[email protected]

Where

Su Chun, Chief Compliance Officer and Legal Officer
1 (888) 850-2713
[email protected]

SOURCE Payfare

Related links

https://www.payfare.com/

About Jimmie T.

Check Also

Disaster Resilience: Opportunities to Improve National Preparedness

What the GAO found The GAO assessed federal efforts to strengthen national preparedness and resilience …