Fintech firm Fiserv to buy Canada's Payfare (updated)

Payfare

23/12/2024 12:16

(Adds context in paragraphs 2-5)
       Dec 23 (Reuters) - U.S. payments technology company
Fiserv  FI.N  said on Monday it would buy Payfare  PAY.TO , a
digital banking firm based in Canada.
    The deal will allow Fiserv to expand its footprint in the
payments technology market catering to gig-economy workers,
where Payfare is a major player.
    Fiserv did not disclose the value of the deal. It did not
immediately respond to a Reuters request seeking additional
details.
    Payfare had a market value of C$101.24 million ($70.3
million), as of last week.
    The deal is expected to close in the first half of next
year, Fiserv said.
    
    ($1 = C$1.4403)

 (Reporting by Niket Nishant in Bengaluru; Editing by Shilpi
Majumdar)
 ((Niket.Nishant@thomsonreuters.com;))