CFA Society Toronto and CFA Society Ottawa Announce Payfare Inc. for Local Level of the CFA Institute Research Challenge

TORONTO – 03 November 2022 – CFA Society Toronto and CFA Society Ottawa announce Payfare Inc. (TSX: PAY) has been selected as the company to be researched and analyzed in the local CFA Institute Research Challenge. Payfare is a global financial technology company providing instant payment and digital banking solutions to gig economy workers through exclusive distribution agreements with leading gig platforms including Uber, Lyft, and DoorDash. Payfare supports its gig platform partners by providing instant access to earnings, zero-cost neobanking capabilities and robust cash back rewards programs on everyday purchases to financially empower their workforces.

Ontario university student teams taking part in the local competition will prepare equity research reports on this Canadian (TSX) listed company and will be reviewed and scored by a panel of investment industry professionals. Based on scoring from the written reports, the top four scoring teams will move onto the local finals on 16 February 2023.

“We are honoured to have Payfare selected as the subject company for the CFA Institute’s Annual Research Challenge,” said Cihan Tuncay, CFA, Head of Investor Relations and Corporate Development at Payfare. “As the Payfare platform expands further, we look forward to incorporating the insight gained from this Research Challenge to support our growth objectives.”

The CFA Institute Research Challenge is an annual global competition that provides university students with hands-on mentoring and intensive training in financial analysis. Students work in teams to research and analyze a publicly traded company, and each team writes a research report on their assigned company with a buy, sell, or hold recommendation.

There are four stages teams must successfully navigate through to be crowned winners of the CFA Institute Research Challenge, they are: local, sub-regional, regional, and global. At each stage, teams must present and defend their analysis to a panel of industry professionals. Students learn from experienced industry experts and peers from the world’s top business schools.

For more information visit CFA Institute Research Challenge

Media contact Esther Filer
CFA Society Toronto
416.366.5755 Ext. 235

For further information on Payfare please visit Payfare or contact:
Cihan Tuncay, Head of Investor Relations and Corporate Development
1 (888) 850-2713

About CFA Society Toronto
Founded in 1936, CFA Society Toronto is part of the worldwide network of CFA Institute member societies that lead the investment profession globally by promoting the highest standards of ethics, education and professional excellence for the ultimate benefit of society. CFA Society Toronto represents the interests of more than 11,000 investment professionals in the Greater Toronto Area through advocacy, education, events, and professional development. For more information visit or follow us on Twitter @cfatoronto and on LinkedIn CFA Society Toronto.

About CFA Society Ottawa
CFA Society Ottawa is a not-for-profit organization that supports the professional and business development of over 400 CFA charterholders in the Ottawa region. Consisting of portfolio managers, security analysts, investment advisors, and other financial professionals, we promote ethical and professional standards within the investment industry, encourage professional development through the CFA Program and continuing education, facilitate the exchange of information and opinions among people within the local investment community and beyond, and work to further the public's understanding of the CFA designation and investment industry. CFA Society Ottawa is affiliated with CFA Institute, the global body that administers the Chartered Financial Analyst curriculum and sets voluntary, ethics-based performance-reporting standards for the investment industry. For more information, please refer to

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. For further information please visit

About CFA Institute
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 170,000 CFA charterholders worldwide in 165 markets. CFA Institute has nine offices worldwide and there are 157 local member societies. For more information, visit or follow us on Twitter at @CFAInstitute and on

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