Smartphone and digital wallet payments are surging in popularity in South Africa and around the world, as more consumers have access to smartphones and demand rises for increasingly fast, convenient and secure payments. Recent surveys showed that over 50% of consumers have used digital wallet solutions to make a payment, with many intending to do so more in the future.
“Stitch is the first PSP in the market to offer enterprise merchants access to all three major smartphone wallet solutions, which are rapidly growing in demand in South Africa.
"We’ve specifically developed an SDK bundle that will make it easy for teams to integrate and launch these solutions so they can offer an even more seamless online checkout experience for their customers. When using the Stitch SDK, the correct wallet will automatically be surfaced to users at checkout based on their device type,” said Stitch co-founder and president, Junaid Dadan.
Apple Pay, Samsung Wallet and Google Pay are designed to make it safer and easier for customers to make card payments. They enable card details to be stored securely in smartphone devices and surfaced to make instant transactions in person via tap-to-pay, or online via one-click checkout.
Unlike traditional card payments, they can be authenticated quickly using biometric or password verification through the customer’s device. Customers can also store multiple cards in their digital wallets, including gift and loyalty cards.
Online digital wallet payments continue to advance, with new features such as Apple Pay’s Instant Buy solution enabling customers to use pre-filled contact and address information, to move from cart through to checkout and payment on trusted e-commerce sites in just one click.
Stitch smartphone wallets are built on top of its industry-leading card solution. Stitch card makes it easier for enterprise businesses to process card payments and increase conversion thanks to built-in redundancies via multiple direct bank integrations, and optimised user journeys.
The Stitch solution specifically enables merchants to optimise and tailor authentication and 3DS – a leading contributor to failed card payments – in order to minimise drop-off risk and maximise acceptance rates.
With Stitch smartphone wallets, enterprise merchants can remain ahead of competition by offering access to all three popular wallet providers through a single integration.
Existing Stitch card clients can easily add smartphone wallets to their integration. New clients can get started quickly, with full, end-to-end support from customer-solutions teams.
Stitch emerged from stealth in February 2021 and has raised $52m in total funding. Today, Stitch infrastructure powers leading global and African businesses across sectors, including MTN, Luno, Multichoice, The Foschini Group (TFG), Standard Bank’s SnapScan and Yoco, as well as global PSP partners and leading global consumer internet companies.
