Stitch Acquires Efficacy Payments, Tightens Grip On South Africa’s Card Payments

South African payments infrastructure startup Stitch has acquired Efficacy Payments, making it one of the first fintechs in the country to offer fully end-to-end card-acquiring services, without relying on banks or third-party processors.

The deal gives Stitch direct access to South Africa’s national clearing system through Efficacy’s rare Designated Clearing System Participant (DCSP) license, allowing it to clear card transactions directly for both online and in-person merchants. Founded in 2016, Efficacy became only the second fintech in the country to achieve this designation in 2021.

For Stitch, it’s the second acquisition this year, following its purchase of ExiPay, a point-of-sale tech provider.

Together, the two acquisitions enable Stitch to now offer a comprehensive payments suite, encompassing gateways, switching, and acquiring, all under one roof. That promises faster settlement times, real-time transaction visibility, and fewer reconciliation headaches for clients like Takealot, Vodacom, Mr D, and Hollywoodbets.

Stitch, founded in 2021, has raised USD 107 M to date, including a USD 55 M Series B in April 2025, and is fast positioning itself as a dominant infrastructure player in South Africa’s USD 159 B card payments market.

“Card processing is essential for local businesses, and there’s plenty of room for better tech and smoother reconciliation,” said Stitch president and co-founder Junaid Dadan. “This move helps us deliver that.”