Focused on providing full API access to financial accounts across Africa, South Africa-based Stitch has announced the launch of LinkPay, a Fintech solution aimed at simplifying the payment experience of Merchants in South Africa and Nigeria. In essence, LinkPay will help online and mobile businesses accept payments without requiring cards through its cloud payment services.
Over 100 million Small Medium-sized Enterprises (SMEs) exist in Africa, with 42 million of these businesses in Nigeria alone and these businesses receive over $2 trillion in consumer payments. Hence, Stitch through LinkPay hopes to solve the challenges that surround the payments in the continent's financial market. Through LinkPay merchants will accept secure, one-click payments directly from customers, facilitating convenience and also reducing the chargebacks or fees on transactions. LinkPay will open an opportunity for digital inclusion in Nigeria and South Africa, as it will further improve the influence of technology through its digital solutions.
Accomplishing its Pan-African ambitions of fast-tracking development in Africa's financial ecosystem remains key for Stitch, as it kicks off operations in LinkPay. Link Pay will hope to be the number one choice for merchants in Africa's most populous country. However, the presence of big players like Flutterwave, Paystack, and Paga will create anything but an easy ride for the newcomers