Stitch acquires Efficacy Payments to become a direct card processor in South Africa
Stitch has acquired Efficacy Payments, a digital payments startup with direct access to the national clearing system. The acquisition allows Stitch to control every layer of the card payment stack.
South Africa’s payments startup Stitch raises $55 million Series B funding
Stitch raised $55 million in a Series B funding round led by QED Investors. The funding will support the expansion of Stitch's in-person payment offerings and online payment suite.
Seven Emerging Trends Shaping South Africa’s Digital Payment Landscape
Mobile payments have seen aggressive adoption, with fintech startups leading innovation and larger financial enterprises facilitating mass adoption. Digital payment service providers are expanding their platforms to ensure a seamless payment experience for customers shopping both online and in-store
Fast-growing South African venture FARO raises $6M to source, refurbish and sell surplus clothing
Global fashion brands are struggling with billions of dollars’ worth of unsold inventory. Emerging markets like Africa rely on secondhand clothing imports, with 30% to 40% deemed unusable.
Payfast Report: Monday is the Most Popular Day for Online Shopping
71% of merchants are optimistic about the festive shopping period. Unified Commerce is enhancing customer convenience and merchant efficiency.
