Payfare Inc. Reports Record Growth in 2023

Payfare, Inc. (TSE:PAY) has released an update.

Payfare Inc. has reported a significant surge in its unaudited financial performance for Q4 and the full year of 2023, showcasing a record $50 million in quarterly revenue, a 33% increase in active users, and a strong close with a net income of $13.1 million for the year. This marks a substantial year-over-year growth, with a noteworthy 43% rise in annual revenue and a 547% increase in net income compared to 2022. These robust results highlight Payfare’s expanding market presence and financial strength in the digital banking and instant payout sectors.

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