PR Newswire | Jun 2, 2021 08:01AM EDT

06/02 07:00 CDT

Payfare Expands Leadership Team Appointing New CTO And CPO TORONTO, June 2, 2021

TORONTO, June 2, 2021 /PRNewswire/ -- Payfare Inc. ("Payfare" or the "Company") (TSX: PAY), a global financial technology company powering digital banking and instant payment solutions, is pleased to announce that Kamran Haidari will be joining as Chief Technology Officer (CTO) and Braulio Lam will lead product innovation and development as Chief Product Officer (CPO). These strategic additions to the executive team will support planned product and technology developments that will accelerate user acquisition and growth across the earned wage access industry.

"The expansion of our executive team is a testament to Payfare's significance in powering payments for on-demand workers driving the global economy," said Marco Margiotta, Payfare CEO and Founding Partner. "Braulio and Kamran's roots in technology and deep experience in transformational payments initiatives will be very valuable to Payfare as we expand instant access to earnings and financial inclusion for workers in North America and around the world."

Mr. Haidari brings over 19 years of payments technology experience in his roles with two major banks, TD Bank Group (TD) and the Canadian Imperial Bank of Commerce (CIBC). Most recently as the Assistant Vice President, Faster Payments, Enterprise Payments Technology at TD, Mr. Haidari led the technology build of TD Global Transfer, as well as the delivery of Interac Instant, Real-Time Rail (RTR), and International Remittance Marketplace (IRM).

With more than 15 years of experience in managing and operating global payments and technology programs, Mr. Lam was Head of Development and IT of the payments division at Home Trust before it was sold to Peoples Trust. In 2016, he co-founded Pungle Payments, a leading Visa Direct integrated partner that he developed and brought to market before the company was acquired in 2019. Mr. Lam is also a Board Advisor for TipTap, a specialized card present acquiring solution for micro payments.

"This is an exciting time to be joining Payfare, and be part of the team's evolution of the payments space," said Mr. Lam. "Payfare has already broken ground by bringing instant pay to some of the world's biggest gig platforms. It's an honour to be part of Payfare's next stage of innovation and product delivery, to drive client-forward solutions that elevate and empower workers."

As part of the Company's expansion with these new hires, Brian Miller will transition from his dual CTO/COO role and maintain the position of Chief Operating Officer.

About PayfarePayfare is a global financial technology company powering digital banking and instant payment solutions for today's gig workforce. Payfare partners with leading platforms and marketplaces, such as Uber, Lyft and DoorDash, to provide financial security and inclusion for their workforce.

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

Su Chun, Chief Compliance & Legal Officer1 (888) 850-2713investor@payfare.com

or

Lindsey Abshire(337) 772-8357lindsey@fletchergroupllc.com

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SOURCE Payfare