Stitch

Thanks to Datos Insights for the mention in their latest Retail Banking & Payments Fintech Spotlight! This is a report that aims to provide insights into interesting vendors with strong USPs and innovative approaches. Access the report here: https://lnkd.in/dGRyeDFJ

Protecting your business and your customers from fraud should be top of mind: Scams are on the rise in South Africa, with over R1 billion in losses reported in 2023. This helpful report from SAFPS (Southern African Fraud Prevention Service) outlines what we know about current fraud trends and the measures being taken to mitigate different types of fraud – check it out.

Reliable, instant payouts can make or break a customer experience for businesses where timing means everything. The ability to send easy payouts 24/7, 365 days a year, can have a significant impact on business success, financial operations and customer satisfaction. Here, we take a deep dive into how instant payouts can impact business success across sectors. Read more here: https://lnkd.in/dMe43Wri

Where are you seeing blockers when it comes to DebiCheck mandate authentication? DebiCheck mandates are digitally verified to ensure fewer disputes and more secure payments. However, if mandate requests are not completed at the time of an initial transaction, businesses may face dropoff or incomplete mandates, forcing them to fallback on other methods. Upfront authentication, or TT3 realtime, uses card present at point of sale to allow customers to immediately authorise the DebiCheck mandate within the initial purchase flow. This can result in more efficient and effective authentication, and higher collection rates moving forward. Learn more about how Stitch can support enterprise collections businesses with TT3 authentication: https://lnkd.in/dMm7kBje

Changes are coming for recurring collections: Effective next month, Registered Mandate Service (RMS) will transition to the Registered Mandate (RM) debit order payment system. If you rely on RMS as a fallback method for your collections, this change will impact your business directly. To learn more about what this means and how you can make sure your business is prepared, read our latest blog: https://lnkd.in/d_vqU-kU

When it comes to recurring payments, how do you tackle issues like unauthorised or unexpected disputes – while protecting your customers? DebiCheck is one of the fastest-growing payment methods in South Africa, and is set to replace traditional EFT debit orders. As customers recognise the benefits of DebiCheck, they may request it more frequently as a payment option. As a digitally authorised mandate, DebiCheck enables higher collection rates and fewer disputes - resulting in significant cost savings. Here's everything you need to know about this payment method to get started improving your collections: https://lnkd.in/dHawp5gD

Businesses that collect recurring payments: Are you ready for the upcoming SARB-mandated shift from RMS to RM? In March, SARB will launch this change as a fallback for unauthorised debit order mandates. Businesses that haven't yet shifted to DebiCheck may face more challenges collecting on these mandates. Join Junaid Dadan, Junaid Osman and Dewald Müller from Stitch for a webinar on the 10th of February to discuss: ☑️ The upcoming mandatory switch from Registered Mandate Service (RMS) to Registered Mandate (RM) ☑️ How to leverage DebiCheck mandates to improve collections and reduce costs ☑️ Upfront authentication, or TT3 realtime at POS, and how this offering can improve auth rates Register here: https://lnkd.in/dk67R2F7

What does it mean for retail businesses to offer a true unified commerce experience? There is growing demand from consumers for multi-channel retail, enabling them to shop across online and in-person channels and receive the same level of personalisation and convenience no matter where they shop. With ever-growing competition in the enterprise retail space, a seamless customer journey can become a significant differentiating factor. In addition to offering a better customer experience, unified commerce solutions like Stitch centralise data systems across all available channels where customers can purchase goods, and provide a real-time overview of inventory, customer preferences, transactions and more. These solutions help businesses avoid data silos and lost customer insights, leading to more optimised processes, and ultimately, more revenue. Learn more about how unified commerce is shaping retail: https://lnkd.in/dReQD-Mn

Reminder: Join Stitch Card Product Manager, Joshua Gordon, and Evervault CEO, Shane Curran, at tomorrow's webinar, where they'll discuss 3D-Secure and share practical tips to: ☑️ Reduce fraud and chargebacks ☑️ Optimize global payments ☑️ Navigate US vs. EU regulations ☑️ Choose between standalone 3D-S or 3D-S with your processor When: Wednesday January 29th @ 9am PST | 12pm ET | 5pm GMT | 7pm SAST Save your seat: https://lnkd.in/dhHQd4Af

Big news: we now offer a unified commerce solution, serving businesses with online and in-person payments in one place. Announcing our first major acquisition: In-person payments solution ExiPay. We now offer a robust unified commerce solution for retail businesses, enabling us to serve enterprise businesses with even more of their payments needs. With the addition of our in-person payments offering, we can support multi-lane retail and omnichannel commerce businesses with a truly unified and reliable platform. We’ll also be taking on ExiPay’s existing merchants, including TFG (The Foschini Group)’s omnichannel retail platform Bash - who we now serve across both online and in-person payments. Luke Jedeikin, Co-Founder and CEO at Bash, said: “At Bash, we’re committed to providing our customers with seamless and reliable payment experiences, both online and in-store. Partnering with Stitch enhances our ability to deliver on this promise by streamlining operations, improving payment success rates whilst offering our customers more ways to pay wherever they shop.” Stitch In-person payments is device agnostic and works with any acquiring bank. Our team can help certify existing or new terminal devices, including P2PE, making the #SwitchToStitch seamless. Interested merchants can get started quickly, with full, end-to-end support from our customer success and customer solutions teams. https://lnkd.in/dNGjhw3y