Payfare Says Its Core Services Agreement Related To DoorDash's DasherDirect Card Program Will Not Be Renewed Beyond The Current Term In Early 2025
Portfolio Pulse from Benzinga Newsdesk
Payfare announced that its core services agreement with DoorDash for the DasherDirect Card Program will not be renewed beyond early 2025. Payfare is financially stable with over $100 million in cash and investments to support new strategies.
September 26, 2024 | 9:04 pm
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NEUTRAL IMPACT
DoorDash's decision not to renew the DasherDirect Card Program with Payfare may impact its financial services offerings for Dashers.
The non-renewal of the DasherDirect Card Program could affect DoorDash's ability to offer financial services to its Dashers, but the impact is not immediate as the agreement is valid until early 2025.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Payfare's agreement with DoorDash will not be renewed, but the company is financially prepared to pursue new strategic initiatives.
The non-renewal of the agreement with DoorDash could lead to a loss of revenue for Payfare. However, the company's strong financial position allows it to explore new opportunities.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90