The extension allows Lyft Direct cardholders
to continue benefiting from free instant pay after every ride, a
rich cashback rewards program, and more
SAN
FRANCISCO, Calif. and TORONTO, July 25,
2024 /PRNewswire/ - Lyft, Inc. (NASDAQ:
LYFT), one of the largest transportation networks in
North America, and Payfare
Inc. (TSX: PAY) (OTCQX: PYFRF), a leading international
Earned Wage Access ("EWA") company powering instant access to
earnings and digital banking solutions for workforces, are excited
to announce the long-term extension of their successful partnership
on Lyft Direct. This extension allows drivers on the Lyft platform
to continue benefiting from free instant pay, a feature rich
digital banking platform, and a robust loyalty rewards program, so
drivers on the Lyft platform can keep more of what they earn.
Lyft Direct, powered by Payfare, is a worry-free, mobile banking
solution designed specifically for drivers on the Lyft platform. It
offers free instant access to earnings after every ride, allowing
drivers to better manage their finances and cash flow. The program
also features a cashback rewards system, where drivers can save on
everyday spending on essential items like fuel.
Lyft Direct offers drivers on the Lyft platform a suite of
financial services tailored to their unique needs. Drivers can
manage their earnings, track spending, and access exclusive
discounts and offers through the Lyft Direct app.
The long-term extension of the program is a testament to the
success of Lyft Direct and the ongoing commitment to support the
financial well-being of cardholders.
"We are thrilled to continue our partnership with Lyft through
the extension of Lyft Direct," said Marco
Margiotta, CEO and Founding Partner of Payfare. "Our mission
has always been to empower gig economy workers with financial tools
that improve their lives. By providing instant access to earnings
and valuable cashback rewards, we are helping drivers on the Lyft
platform achieve greater financial security and independence."
"Drivers can earn when, where, and for however long they want
driving on the Lyft Platform, so they should also have access to
those earnings whenever they need them," said Jeremy Bird, EVP of Driver Experience at Lyft.
"Our partnership with Payfare provides drivers with immediate
access to their finances via Lyft Direct, whether they are saving
for their wedding, providing for a family, or trying to earn some
extra money on the side to support their passions and dreams."
About Lyft (NASDAQ: LYFT)
Lyft is one of the largest transportation networks in
North America, bringing together
rideshare, bikes, and scooters all in one app. We are
customer-obsessed and driven by our purpose: getting riders out
into the world so they can live their lives together, and providing
drivers a way to work that gives them control over their time and
money.
Investor Relations: investor@lyft.com
Media: press@lyft.com
About Payfare (TSX:PAY, OTCQX: PYFRF)
Payfare is a leading, international Earned Wage Access ("EWA")
company powering instant access to earnings through an
award-winning digital banking platform for today's workforce.
Payfare partners with leading e-commerce marketplaces, payroll
platforms, and employers to provide financial security and
inclusion for all workers.
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content:https://www.prnewswire.com/news-releases/lyft-and-payfare-announce-long-term-extension-of-lyft-direct-program-302206264.html
SOURCE Payfare Inc.
