Stitch, a leader in payment infrastructure, has acquired ExiPay, a provider of in-person payment solutions. This strategic acquisition integrates online and physical payment capabilities into a single, seamless platform, strengthening Stitch’s ability to serve enterprise businesses.
Meeting Merchant Needs
The new solution allows merchants to manage all transactions on one platform, whether in-store or online. Existing payment devices can be adapted, or new ones certified, ensuring flexibility and reliability. Stitch’s expanded offering is designed to support omnichannel and multi-lane retail businesses.
ExiPay’s existing partnerships, including its work with Bash, an omnichannel retail brand, will now benefit from Stitch’s enhanced services. Bash CEO Luke Jedeikin praised the partnership, noting its potential to streamline operations, improve payment success rates, and elevate the customer experience both online and in-store.
With only 6% of South Africa’s retail transactions occurring online in 2024 and projected growth to 10% by 2025, the demand for unified shopping experiences is rising. Stitch’s expanded platform addresses this gap, enabling businesses to cater to evolving consumer preferences.
Strengthening Leadership in Payments
Since its 2021 debut, Stitch has supported top brands like MTN, Vodacom, and TFG, raising $52 million in funding. By incorporating ExiPay’s capabilities, Stitch is poised to become a leader in omnichannel payment solutions across Africa.
Read more: Matercard| MTN|TFG| Vodacom| Pat on Brands
