Stitch’s Acquisition of ExiPay: Tackling Enterprise In-Person Payments

Stitch’s Acquisition of ExiPay: Tackling Enterprise In-Person Payments

Stitch, the South African fintech making waves in online payments, is diving into in-person payments with its recent acquisition of ExiPay. This move shines a light on a persistent challenge in the payments space: enterprises have long been underserved when it comes to solutions for in-person transactions.

While many payment providers have created innovative solutions for small and medium-sized businesses (SMEs), large enterprises often find themselves stuck with outdated systems that don’t align with their scale or complexity. Stitch’s decision to integrate ExiPay into its platform aims to change that.

Why In-Person Payments for Enterprises Are Tricky

Unlike smaller businesses, enterprises face unique challenges in managing in-person payments. They handle higher transaction volumes, operate across multiple locations, and need systems that integrate seamlessly with their existing software, such as ERP and CRM tools.

As Stitch CEO Kiaan Pillay put it, “The in-person payments space has not been disrupted for enterprises. Many players are doing this for smaller businesses in the market, but no one is tackling this for enterprises.”

This gap has persisted because disrupting the enterprise payments market is no small feat.

What This Means for the Market

By acquiring ExiPay, Stitch isn’t just expanding its product lineup—it’s positioning itself to address a glaring gap in the fintech ecosystem. Integrating ExiPay’s solutions into its platform allows Stitch to offer enterprises a unified system for online and in-person payments. This could make it easier for businesses to manage transactions, streamline operations, and ultimately grow their bottom line.

That said, the road ahead won’t be without hurdles. Stitch’s success will depend on its ability to deliver the reliability and scalability enterprises demand while navigating the complexities of this new market segment.

For South Africa’s retail sector and beyond, this move could signal the beginning of a broader shift in how enterprises handle payments. As the lines between online and in-person transactions blur, solutions like Stitch’s have the potential to redefine the standard for enterprise payments on the continent.

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