The South African Payment Infrastructure Company Stitch has acquired the Payments Supplier in Person Formay, expanding its business payment offer to encompass online and in person payments via a single unified platform.
Founded in February 2021, Point is a payment infrastructure company that helps businesses to evolve more quickly and work more efficiently. The API and the point payment tools reduce the required effort so that companies in the sectors connect to the financial system and offer delicious experiences to their users.
With its October 2023 25 million US dollars Series in RoundThe startup has raised a total of $ 52 million in funding, and extended to become an end -to -end payment service provider.
He has now acquired Exipay, in a decision that will allow him to take charge of the retail and omnichannel trade companies with a really unified and reliable platform.
“We are delighted to provide the demand for the result of point payments, allowing business merchants to offer transparent and reliable payment experience, no matter where their customers choose to buy and manage all their transactions in one place. Exipay has built a solid solution which, combined with our existing online payment platform, will allow us to serve our customers from a much more holistic perspective, supporting them at each point of contact with their customers, ” founder and president of Stitch and President Junaid Dadan.
At the time of acquisition, Exipay has held existing contracts with several business customers and PSP operating in South Africa and other African markets, including the omnichannel Bash retail brand. With this acquisition, Stitch will serve Bash for their online and online needs, and will continue to serve other existing demand customers.
“At BASH, we are committed to providing our customers with transparent and reliable, online and in store payment experiences. The partnership with Stitch improves our ability to keep this promise by rationalizing operations, improving payments success rates while offering our customers more ways to pay wherever they buy. We are delighted with the potential that this partnership brings to raise the omnichannel strategy of TFG, “said Luke Jedeikin, co-founder and CEO of Bash.