Stitch Acquires ExiPay to Expand In-Person Payment Solutions for Retail Businesses

Stitch, a leading provider of API-driven financial technology solutions, announced today its acquisition of ExiPay, a promising startup specializing in in-person payment solutions for retail businesses. The strategic move positions Stitch to enhance its presence in the retail sector and expand its capabilities beyond digital payments into the physical realm.

Founded in 2020, ExiPay has rapidly gained traction among small and medium-sized retail businesses with its cutting-edge point-of-sale (POS) systems and seamless payment integration tools. The company’s solutions simplify the payment process for merchants, enabling them to accept a wide range of payment methods, from credit and debit cards to mobile wallets and QR codes. ExiPay’s focus on user-friendly hardware and software has made it a favorite among retailers seeking reliable and scalable payment technology.

For Stitch, this acquisition marks a pivotal step in its growth strategy. Best known for its robust API infrastructure that supports online payments, identity verification, and bank account integration, Stitch has primarily catered to e-commerce platforms, fintech startups, and developers. By acquiring ExiPay, Stitch is poised to bridge the gap between digital and in-person payments, offering a unified ecosystem for merchants to manage transactions across multiple channels.

"We’re thrilled to welcome ExiPay to the Stitch family," said Stitch CEO Jane Donovan in a statement. "Their expertise in in-person payment solutions complements our existing capabilities, enabling us to better serve retail businesses that operate both online and offline. This acquisition aligns with our vision of creating seamless, secure, and scalable financial solutions for businesses of all sizes."

ExiPay’s CEO, Ahmed Ndlovu, echoed the sentiment. "Joining Stitch is an exciting milestone for ExiPay," he said. "With Stitch’s resources and expertise, we’ll be able to accelerate innovation, enhance our product offerings, and reach more merchants than ever before. Together, we’re redefining the future of payments."

The financial terms of the acquisition have not been disclosed, but industry experts predict the move could significantly boost Stitch’s market share in the retail payment space. Analysts also highlight the growing demand for omnichannel payment solutions, as consumers increasingly expect flexibility in how they pay.

By integrating ExiPay’s technology into its portfolio, Stitch is set to offer retailers a comprehensive solution that combines the convenience of digital payments with the reliability of in-person transactions. As the fintech landscape continues to evolve, this acquisition positions Stitch as a formidable player in both online and offline payment systems.

SOURCE: AGENCIES