Q: Brookfield Office prefs have been in the doghouse presumably because there was concern about the potential of Brookfield not standing behind these products. They've had a surge today - is there new sentiment that the concern was unwarranted?
Could you comment on Payfare's competitive vulnerability in the GIG payment niche they have carved out ?
Thank you, Hugh
Could you comment on Payfare's competitive vulnerability in the GIG payment niche they have carved out ?
Thank you, Hugh
5i Research Answer:
We see no specific news on Brookfield, but the parent company shares have been hitting daily new highs, perhaps alleviating some concerns. The concern has been intense, and an overall improvement in market confidence has also likely helped. PAYs main competitors, from its filings, are : Branch, Gig Wage, and Brex. There is always competition, and it is hard to specifically analyse its vulnerabilities. It lists more than 10 advantages it has, including: first mover, lower costs, private and custom programs, global capacity, expanded infrastructure, knowledge of gig workers and loyalty based rewards.