US$193,780,000+
*Data updated daily at 18:00 EAT
South African fintech Stitch, known for payments infrastructure, has acquired ExiPay, a provider of in-person payment solutions, to enhance its enterprise payments offering and provide a unified platform for both online and in-person payments. This move addresses the growing demand for omnichannel commerce, as more consumers seek seamless, personalised shopping experiences across both physical and online stores.
The acquisition, the terms of which are undisclosed, will enable Stitch to support multi-lane retail businesses and provide enterprise merchants with a holistic payments solution. Junaid Dadan, Stitch Co-founder and President, emphasised that combining ExiPay’s in-person solution with Stitch’s existing online platform would enable businesses to manage all their payment transactions in one place.
ExiPay’s in-person payments platform will allow businesses to accept card-present payments and offer alternative online payment methods at the point of sale, all through the Stitch platform. Merchants can continue using their existing terminals or opt for new certified devices with P2PE certification.
ExiPay already holds contracts with enterprise clients like Bash / The Foschini Group (TFG) in South Africa, which Stitch will continue to serve for both online and in-person payments. Luke Jedeikin, CEO of Bash, highlighted that the partnership with Stitch would streamline operations and enhance payment success rates, further elevating TFG’s omnichannel strategy.
Stitch’s In-person payments offering will ensure seamless, reliable transactions with automated failovers and high uptime, benefiting merchants with the same flexibility and support as Stitch’s online clients.