Stitch

We're excited to announce the 3rd annual Stitch Scale Summit, with the theme: The Year of the Consumer. To be held on 3 October in Johannesburg, we'll be diving into how today's consumers interact with brands, how they're being influenced and the ways in which they consider how + where they spend their money. Four years on from the pandemic, with an array of macro drivers shaping consumer behaviours, what does the consumer psyche look like in South Africa today? What does this mean for brands and services looking to better reach, understand and ultimately convert them? Joined by leading voices from across South Africa’s retail, banking, insurance, travel and other sectors, attendees can expect to hear how the country's most prominent businesses are adapting to better meet today’s consumer where they are, and how they’re thinking about acquisition and retention across the customer journey. Learn more about why 2024 (and beyond) is all about the consumer: https://lnkd.in/dY_P3-6z

"There's a bifurcation of innovation on offline payments and online payments, and none of these systems talk to each other today...Online is growing really quickly, but these two worlds don't talk to each other. So I think it would be cool, especially in enterprise spaces, to see more of that happen in the next few years." Hear CEO Kiaan Pillay chat global payments innovation with the This Week in Fintech team in the first episode of their How Money Moves series! Thanks to Julie VerHage-Greenberg and Matthew Goldman for having us, and cheers to Yele W. Oyekola from Duplo for a great chat. Check out the full episode here: https://lnkd.in/eAQiA7e5

How do digital wallet payments work? Stitch Product Manager Thomas Mathew shares more on this and how Stitch makes the process even easier for merchants. "Stitch provides all of the [available digital] wallets and facilities the payments processing as part of a single integration. This works in a native application, a website, and on a hosted or non-hosted payments page. This unifies everything and makes it as easy as possible for merchants to start accepting digital wallet transactions." From managing the end-to-end process, to providing access to pre-bundled SDKs, all necessary documentation and hands-on customer solutions, we work closely with merchants to enable digital wallet payments that to suit their unique requirements. Get a custom demo: https://lnkd.in/dSSXPnv9

How do card payments work, and what happens behind the scenes when a card transaction is initiated? From authorisation to approval and settlement, there are a lot of invisible infrastructural processes that take place when a consumer initiates a card payment to a merchant. Depending on the type of transaction - such as guest checkout on an e-commerce platform, or saving card details in a digital wallet for future use - businesses can construct their own payment flows to accommodate for various customer journeys. These tweaks and optimisations are crucial to remain competitive and deliver the most seamless user experience that keeps customers coming back. When it comes to bigger businesses, card payments become far more intricate. Enterprises often have multiple merchant IDs or accounts where transactions are settled into. This can create complexities as the merchant ID needs to sit at the bank that the payment service provider (PSP) is integrated into. More accounts, merchant IDs and PSPs means more potential points of failure that can lead to more declined transactions. This has the potential to negatively impacts the customer experience, resulting in lower conversion and retention, and less revenue for the business. Understanding the basics behind a card transaction and how to customise your card payment experience is key to ensuring you're offering the best experience for your customers. Learn more about how card payments work in South Africa, and how you can offer the best payments experience for your customers: https://lnkd.in/ds2dCtrs

Apple Pay is gaining steam as one of the fastest-growing payment methods globally - including in South Africa. Last week, we announced that we can now enable enterprise businesses to offer all 3 major digital wallets through a single integration, built on top of our industry-leading card solution. Learn more about Apple Pay, why consumers love it and why enterprises should consider adding it to their payments stack: https://lnkd.in/evHbJcme

The team at The Generalist has identified what they believe to be the world's highest potential startups for their Future 50 list - and we're honoured to have been selected. Alongside 49 other businesses headquartered in 11 different counties spanning sectors from fintech and SaaS to AI and healthcare, we were nominated by our investors and selected for the inaugural Future 50 database, showcasing "the world's highest potential startups". We're happy to be on this journey, and excited for what's next! Read more here: https://lnkd.in/eSuWBmba

We're excited to announce we've partnered with South Africa's biggest daily deals site OneDayOnly.co.za to enhance their payments experience. Now, OneDayOnly customers can bag the biggest bargains + pay easily and securely using Stitch. PS. OneDayOnly celebrates their 15th birthday next month! Keep an eye on their site for exciting offers.

Close to 95% of surveyed South Africans said "secure payment processing is the most useful online shopping security feature", suggesting they know how to check if a site and its payment methods are secure. According to data from Retail Brief Africa and PayPal, South Africans are increasingly discerning when it comes to the safety of their funds online. Similarly, findings from our recent e-commerce consumer report showed that 63% of South Africans choose which platform to use based on the ease and security of its payments. As South Africans grow more accustomed to online shopping, and as the online retail environment continues to evolve, keeping an eye on shifting trends and using data-driven insights to optimise the overall customer experience is crucial. Here, Retail Brief Africa outlines more key insights into South Africans’ online shopping habits: https://lnkd.in/d4-vVV6b

What are some of the trends and influences shaping purchase decisions and behaviours for South African consumers? At the upcoming Stitch Scale Summit, we’ll take a close look at these and other trends: 🏡 The long-tail legacy of lockdown: the "hermit consumer" phenomenon and other lockdown legacies have and continue to reshape spending habits 🛍️ Changing retail dynamics: the impact of digital transformation on retail as on-demand delivery continues to rise + mobile payments overtake card usage 🙋♀️ Rise in consumer expectations: consumer demands for better, more engaging and personalised user experiences are on the rise 🇿🇦 Local and sustainable consumption: the rise of conscious consumerism in South Africa, where locally sourced and eco-friendly products are gaining popularity 🤳 TikTokification of news + role of influencer marketing: the influence of social media, conversational commerce and the use of AI-powered tools impacting consumer choices 🫰 Evolution of payment methods: From digital wallets to pay with crypto, there are emerging trends in payment preferences among South African consumers that have the potential to boost revenue Explore more on the mindset of South African consumers and how brands can offer a seamless, future-forward customer journey to keep them engaged and impact retention.   Get the full story, from Stitch Head of Marketing Thea Sokolowski: https://lnkd.in/df24juzp

Smartphone-based digital wallets are one of the fastest-growing payment methods in South Africa. Customers love the security and convenience of digital wallets, but what are the benefits for merchants? There are a number of reasons smartphone wallet solutions like Apple Pay, Samsung Wallet and Google Pay have taken off in South Africa. From the convenience of storing multiple different credit, debit or loyalty card details safely in one place to being able to easily and quickly make a card payment, merchants also benefit from strong security features and the rapid adoption rates. According to data from Discovery Limited Bank, the volume of digital wallet transactions grew 91% from 2019 to 2023, with our own research indicating that 52% of consumers have used the solution with 60% saying they will in the coming year. Typically, integrating smartphone or digital wallets requires managing integrations and relationships with two different parties. But with Stitch, merchants can easily integrate all three solutions in one integration thanks to a collective software development kit (SDK), cutting down on additional development and design work. Explore how digital wallet payments work under the hood: https://lnkd.in/dkj8mxFV