Stitch buys Efficacy to take full control of card payments in South Africa
- Stitch acquired Efficacy Payments, enhancing its card processing capabilities.
- The acquisition allows Stitch to act as a gateway, switch, and acquirer for card payments.
- Merchants will benefit from faster reconciliation and fewer failed transactions.
Stitch's acquisition of Efficacy Payments is a strategic move that not only strengthens its market position but also enhances the overall payment infrastructure in South Africa. This could lead to increased competition in the fintech space, benefiting merchants and consumers alike. However, it will be crucial for Stitch to maintain service quality and innovate continuously to stay ahead in a rapidly evolving market.
