TORONTO, March 3,
2025 /PRNewswire/ - Payfare Inc. ("Payfare" or
the "Company") (TSX: PAY) (OTCQX: PYFRF) today announced
that 1517452 B.C. Ltd. (the
"Purchaser"), an affiliate of Fiserv, Inc. ("Fiserv")
(NYSE: FI) has completed its previously announced acquisition of
Payfare pursuant to a plan of arrangement under the British Columbia Business Corporations
Act (the "Arrangement").
"It's an exciting day for Payfare as we join together with
Fiserv," said Marco Margiotta, Chief
Executive Officer & Founding Partner of Payfare. "This is a
transformative step that will further our mission of providing
financial security and inclusion for all workers, as we innovate
further and faster with Fiserv. Thank you to the dedicated
Payfare team, our clients, and partners who have paved a new way of
pay, as we powered over $20 billion
in instant access to earnings for millions of gig workers over the
years."
The Class A common shares of Payfare ("Payfare Shares")
will be delisted from the Toronto Stock Exchange, and will be
withdrawn from trading in the U.S. on the OTCQX. Payfare will apply
to cease to be a reporting issuer in Canada. The Toronto Stock Exchange will
disseminate a notice announcing the delisting of the Payfare Shares
in due course.
About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500™ company, aspires
to move money and information in a way that moves the world. As a
global leader in payments and financial technology, the company
helps clients achieve best-in-class results through a commitment to
innovation and excellence in areas including account processing and
digital banking solutions; card issuer processing and network
services; payments; e-commerce; merchant acquiring and processing;
and the Clover® cloud-based point-of-sale and business
management platform. Fiserv is a member of the S&P
500® Index and is one of Fortune® World's
Most Admired Companies™. Visit fiserv.com and follow on social
media for more information and the latest company news.
View original
content:https://www.prnewswire.com/news-releases/fiserv-completes-acquisition-of-payfare-302389984.html
SOURCE Payfare Inc.
