Payfare Partners with Avibra to Launch Wellness Perks

News provided by

Mar 28, 2023, 08:00 ET

A compelling suite of health and wellness protection for DasherDirect Cardholders

TORONTO, March 28, 2023 /PRNewswire/ - Payfare Inc. ("Payfare" or the "Company") (TSX: PAY), a leading fintech powering instant payout and digital banking solutions for the gig workforce is excited to announce that eligible DasherDirect cardholders can now access free essential health and wellness tools, including life and accidental death and dismemberment insurance, through Wellness Perks.

Wellness Perks Core, available at no cost for all active DasherDirect cardholders, includes $1,000 in life insurance and $10,000 in AD&D coverage; housing, debt, and credit counseling; an ESG advisor and a well-being advisor to improve Dashers' financial and physical well-being; and a prescription drug savings program. In addition, users also have the option to access and customize broader coverage at an affordable price with Wellness Perks Essentials. These include dental and vision savings plans, roadside assistance, critical illness insurance, accident medical coverage, group fitness classes, mental health support, and more – all on-demand for just $1/week each.

Through this partnership with Avibra, Payfare can now provide gig workers a compelling suite of free health and wellness protection and perks alongside uniquely affordable add-on options for additional coverage. Gig platforms that partner with Payfare can offer access to optional, third party financial services, health, and wellness benefits to attract and retain gig workers while providing the flexibility of work valued by independent contractors.

"Working with Avibra, Payfare is solving another significant pain point for both gig workers and gig platforms," said Marco Margiotta, CEO and Founding Partner of Payfare. "With the Wellness Perks program, we can now provide our cardholders access to much needed health and wellness protection which in turn also helps our gig platform partners attract workers."

"The workforce is changing dramatically in the United States. Americans are looking for ways to have greater control and balance in their daily lives, and gig work is the solution. Unfortunately, gig workers can sometimes feel stuck without a safety net. Demand for a solution has accelerated," said Yogesh Shetty, Avibra CEO and founder. "Avibra is thrilled to partner with Payfare because our missions are one. Together, Payfare and Avibra will help gig workers live happy, healthy, and fulfilling lives on their own terms. This is the future of work."

About Payfare (TSX:PAY)

Payfare 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 health for their workforce.

About Avibra

Avibra helps consumers from all walks of life by offering affordable financial, well-being and protection coverage. Avibra works with retailers, gig platforms, fintechs and more to unlock basic safety-net benefits through their enterprise platform. By providing access to a previously underserved population, Avibra's mission is to help more individuals feel happier, healthier and safer. For more information, visit www.avibra.com.

SOURCE Payfare