Stitch provides a reliable API and payment gateway that integrates directly with multiple banks and networks in South Africa, enabling businesses to accept various online payment methods including bank transfers, cards, and crypto. The platform streamlines payment operations, reduces reconciliation burdens, and minimizes fraud, allowing businesses to enhance their payment experiences and improve conversion rates.
Funding
$46M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses in South Africa face challenges in accepting a wide range of online payment methods, leading to increased reconciliation burdens and potential fraud. Integrating with multiple banks and payment networks can be complex and time-consuming.
Solution
Stitch provides a unified API and payment gateway that simplifies online payment acceptance for businesses in South Africa. The platform offers direct integrations with various banks and networks, enabling businesses to accept diverse payment methods, including Pay by bank, Capitec Pay, cards, manual EFT, debit orders, cash, and crypto. Stitch streamlines payment operations by orchestrating, managing, and reconciling payments across different methods, providers, and geographies through its PayOS system. Additionally, the platform facilitates sending payouts anywhere via API, enhancing payment experiences and improving conversion rates while minimizing fraud through real-time fraud prevention.
Target Audience
The primary target audience includes enterprise businesses in South Africa that require a scalable and reliable payment solution to streamline online payment acceptance, reduce reconciliation burdens, and minimize fraud.
Features
- Single API for multiple online payment methods including Pay by bank, Capitec Pay, card, manual EFT, debit order, cash and crypto
- PayOS system to orchestrate, manage, and reconcile payments across methods and providers
- Payouts API for initiating refunds, withdrawals, and disbursements 24/7
- Stitch Shield for real-time fraud prevention and protection
- Flexible integration options: pre-built checkout flows, custom UI elements, or pure API integration
- Support for recurring collections with automated fallbacks
- Unified commerce solution to manage online and in-person payments through a single platform
- ISO 27001 and PCI DSS Level 1 certified for data security