# Payfare (Payfare)

> Payfare is a fintech providing earned-wage-access, instant payouts, and digital banking to gig workers; acquired by Fiserv in 2025.

## Facts
- **Website:** https://www.fiserv.com/en/solutions/embedded-finance.html
- **Headquarters:** Toronto, Ontario, Canada
- **Country:** Canada
- **Founded:** 2012
- **Founder:** Marco Margiotta, Ryan Deslippe, Keith McKenzie
- **Employees:** 51-200
- **Funding stage:** Formerly public (TSX: PAY); acquired by Fiserv for ~C$201.5M, deal closed March 2025
- **Total funding:** CA$65.4M
- **Categories:** Pay on Demand

## Overview
Payfare Inc. is a financial technology company that provides instant-payout, earned-wage-access, and digital-banking solutions to gig-economy workers, including payment cards, mobile wallets, ATM withdrawals, and money transfers. It powered payout and banking programs for gig platforms and marketplaces such as Uber, Lyft, and DoorDash. Founded in 2012 and headquartered in Toronto, Canada, it traded on the Toronto Stock Exchange under ticker PAY until it was acquired by Fiserv in a deal that closed in March 2025.

## Products
Payfare Earned Wage Access & Digital Banking, Instant Pay Platform, Payfare Mastercard (reloadable prepaid), Digital Wallet, Cashback Rewards, Fee-Free ATMs, Budgeting Tools, Payroll Integration, Gig Economy Payments, White-Label Solutions, Employer Dashboard, Financial Wellness

## Leadership
- Marco Margiotta — founder ([profile](https://www.dhrmap.com/people/marco-margiotta))
- Ryan Deslippe — founder ([profile](https://www.dhrmap.com/people/ryan-deslippe))
- Keith McKenzie — founder ([profile](https://www.dhrmap.com/people/keith-mckenzie))

## Sources
- [Acquirer page (Fiserv)](https://www.fiserv.com/en/solutions/embedded-finance.html) — verification
- [Acquisition announcement](https://www.sec.gov/Archives/edgar/data/798354/000079835425000104/fisv-20250331.htm) — official
- [Payfare (TSX:PAY) Company Profile & Description](https://stockanalysis.com/quote/tsx/PAY/company/) — database
- [Fiserv Finalizes Payfare Purchase to Boost Embedded Finance Offerings](https://www.pymnts.com/acquisitions/2025/fiserv-finalizes-payfare-purchase-boost-embedded-finance-offerings/) — news
- [Payfare (TSX:PAY) Company Profile & Description](https://stockanalysis.com/quote/tsx/PAY/company/) — database
- [Payfare Inc. completes $201.5 million sale to Fiserv](https://www.blg.com/en/about-us/deals-and-suits/2025/03/payfare-inc-completes-sale-to-fiserv) — news
- [Fiserv Acquires Earned Wage Access Firm Payfare](https://www.pymnts.com/acquisitions/2024/fiserv-acquires-earned-wage-access-firm-payfare/) — news
- [Fiserv enters $140m deal to acquire Payfare](https://www.electronicpaymentsinternational.com/news/fiserv-140m-acquire-payfare/) — news
- [Payfare (TSX:PAY) Company Profile & Description](https://stockanalysis.com/quote/tsx/PAY/company/) — database
- [Payfare Inc. completes $201.5 million sale to Fiserv](https://www.blg.com/en/about-us/deals-and-suits/2025/03/payfare-inc-completes-sale-to-fiserv) — news
- [Payfare (TSX:PAY) Company Profile & Description](https://stockanalysis.com/quote/tsx/PAY/company/) — database
- [Payfare Inc. completes $201.5 million sale to Fiserv](https://www.blg.com/en/about-us/deals-and-suits/2025/03/payfare-inc-completes-sale-to-fiserv) — news
- [Payfare Enters into Definitive Agreement to be Acquired by Fiserv](https://www.prnewswire.com/news-releases/payfare-enters-into-definitive-agreement-to-be-acquired-by-fiserv-302338076.html) — press_release

## FAQ
**What does Payfare do?**

Payfare is a fintech providing earned-wage-access, instant payouts, and digital banking to gig workers; acquired by Fiserv in 2025.

**Where is Payfare headquartered?**

Payfare is headquartered in Toronto, Ontario, Canada.

**When was Payfare founded?**

Payfare was founded in 2012.

**Who founded Payfare?**

Payfare was founded by Marco Margiotta, Ryan Deslippe, Keith McKenzie.

**How many employees does Payfare have?**

Payfare has 51-200 employees.

**How much funding has Payfare raised?**

Payfare has raised CA$65.4M (Formerly public (TSX: PAY); acquired by Fiserv for ~C$201.5M, deal closed March 2025) to date, per DHRMap records.

**What kind of HR technology is Payfare?**

Payfare is categorized under Pay on Demand on DHRMap.

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**Verification:** partially_verified · last reviewed 2026-09-10
**Canonical page:** https://www.dhrmap.com/companies/payfare
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