Payments infrastructure company Stitch has acquired payments provider ExiPay, expanding its enterprise payments offering to encompass both online and in-person payments through a single platform.
According to a statement, with this acquisition Stitch will be able to support multi-lane retail and omni-channel businesses with a unified and efficient platform.
The Stitch in-person payments offering will now enable enterprise businesses to leverage the Stitch payments platform to accept in-person payments via card present, and offer customers the option to pay with alternative digital payment methods at point of sale, it says.
“We’re excited to bring the ExiPay solution into the Stitch payments suite, enabling enterprise merchants to offer a seamless and reliable payments experience no matter where their customers choose to shop, and manage all their transactions in one place,” says Stitch co-founder and president, Junaid Dadan.
“ExiPay has built a strong solution that, combined with our existing online payments platform, will allow us to serve our clients from a much more holistic perspective, supporting them across every payments touch-point they have with their customers.”
Despite the continued growth of SA’s e-commerce in 2024, just 6% of retail transactions took place online, projected to reach 10% in 2025.
An increasing number of shoppers indicate they would prefer to shop from a brand that has both a physical and an online store. Consumers continue to demand more seamless, personalised and unified experiences no matter where they choose to shop.
ExiPay provides a payments platform for acquirers and payment service providers that is tender and device agnostic.
With its management tools and API-first architecture, the platform can integrate alongside merchants existing systems and build on top of their existing technologies. The company says its Terminal Management System can cater for a multi-vendor estate of fit-for-purpose terminals and related technologies such as SoftPOS.
At the time of acquisition, ExiPay held existing contracts with several enterprise clients and PSPs operating in South Africa and other African markets, including omni-channel retail brand Bash.
With this acquisition, Stitch will serve Bash for both their online and in-person payments needs, and will continue serving other existing ExiPay clients.
“At Bash, we’re committed to providing our customers with seamless and reliable payment experiences, both online and in-store. Partnering with Stitch enhances our ability to deliver on this promise by streamlining operations, improving payment success rates whilst offering our customers more ways to pay wherever they shop. We’re excited about the potential this partnership brings to elevate TFG’s, omn-ichannel strategy,” says Luke Jedeikin, co-founder and CEO at Bash.
Share