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Payfare and Cardlytics Partner to Launch Cash Back Rewards Program
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Payfare (TSX: PAY) has launched a new rewards program in partnership with Cardlytics (NASDAQ: CDLX) that allows gig workers to earn instant cash back with their Payfare cards. This program enables cardholders to earn cash back automatically while shopping at various brands. The initiative aims to enhance financial empowerment and loyalty for gig workers, which is crucial in the expanding gig economy. Payfare continues to strengthen its digital banking solutions, highlighting the growing importance of financial health in this sector.
Positive
Launch of cash back rewards program for gig workers.
Enhanced loyalty and financial empowerment for gig workers.
Partnership with Cardlytics to offer relevant cash back rewards.
Negative
None.
Gig workers can now earn instant cash back with their Payfare cards
TORONTO--(BUSINESS WIRE)--
Payfare Inc. (TSX: PAY),a leading fintech powering instant payout and digital banking solutions for the gig workforce, today announced a new rewards program powered by Cardlytics (NASDAQ: CDLX). Payfare cardholders can now earn cash back when they shop thousands of local and national brands.
Partnering with Cardlytics, Payfare provides cardholders with an automatic, engaging rewards experience. Payfare cardholders simply pay for products with their card, as they do today, and the cash back rewards earned are automatically credited to their rewards wallet. Cardholders can also explore local and national offers in the app.
“Driving loyalty and financial empowerment is critical for the growing global gig economy that relies on instant access to their earnings,” said Marco Margiotta, CEO and Founding Partner of Payfare. “Our partnership with Cardlytics will enable gig workers to earn even more, with relevant cash back rewards on the things they need and regularly spend money on to be successful entrepreneurs.”
“We are excited to partner with Payfare to bring our rewarding offers to the members of the thriving gig economy,” said Farrell Hudzik, EVP, Financial Institutions, Cardlytics. “Payfare has already proven to be an integral partner to these entrepreneurs by powering instant payout. Adding the Cardlytics cash back rewards program will further drive loyalty while also putting cash back in the hands of their cardholders.”
The global pandemic has created a surge in on-demand products and services, demonstrating the essential nature of the gig economy, and helping to underscore the importance of this type of support. This new integration marks the latest expansion of Payfare’s solution, furthering its mission to support financial health for the growing, global gig workforce.
About Payfare
Payfare is a global financial technology company powering digital banking and instant payout solutions for today’s gig workforce. Payfare partners with leading platforms and marketplaces, such as Uber, Lyft and DoorDash, to provide financial health for their workforce.
About Cardlytics
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their banking rewards programs that promote customer loyalty and deepen banking relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, Los Angeles, San Francisco, Austin and Visakhapatnam. Learn more at www.cardlytics.com.
