Leveraging i2c’s payments processing platform, Payfare enables transportation and ridesharing companies to pay drivers by loading their earnings onto a prepaid Mastercard.
Drivers can shop in-store or online anywhere Mastercard is accepted. They can also withdraw cash at any ATM, transfer money, and pay bills. Drivers can access their account 24/7 online or in-app via their iOS or Android device.
The Payfare service will be available in the United States in the first quarter of 2018.
An estimated 34% of the US workforce is now part of the “gig economy”, working as short-term and freelance employees, according to a recent study by Intuit. Paying part-time workers promptly and efficiently can be a difficult problem for companies in this new economy.
i2c provides smarter payments and integrated commerce solutions for financial institutions, corporations, brands, and governments around the world.
Payfare is a financial technology company, with mobile banking and micro-lending at the core of their offering, that provides cloud-based solutions for paying on-demand work force.
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