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‘Sitting in the back of an Uber, we understood drivers have a pain point’: Payfare’s Marco Margiotta

  • Gig workers increasingly want access to the wages as they earn them.
  • Payfare works with firms like Uber and DoorDash to help their workers get paid more frequently.
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‘Sitting in the back of an Uber, we understood drivers have a pain point’: Payfare’s Marco Margiotta

There’s a rising availability of earned wage access solutions. As more workers engage in the gig economy, fintech and payment solutions are emerging that help people access their wages as they earn them, instead of waiting for a monthly or bi-weekly pay cycle.

Payfare is one of those companies. Fresh off an IPO in Toronto in March of this year, the company works with platforms like Uber, Lyft, and Doordash to enable their workers to get paid. Payfare CEO Marco Margiotta joins us on the podcast to discuss the move to go public and what changes that presented to management. Marco discusses trends in gig economy payments and earned wage access. Lastly, we look ahead to see where earned wage access matures to and how Payfare’s products will continue to support workers.

Marco Margiotta is my guest today on the Tearsheet Podcast.

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The following excerpts were edited for clarity.

Our company specializes in providing gig economy workers digital banking solutions that provide instant access to their earned wages.. We have clients such as Uber, Lyft, and DoorDash.

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