South African-based fintech firm Stitch has introduced Pay with crypto, a new payment method that makes it possible for customers to pay directly from their crypto-currency wallets.
This, as crypto-currency continues to grow in the local market, with 7.7 million South Africans reportedly owning crypto-currency, to date.
In a statement, Stitch says the new payment method means local merchants can now accept crypto payments from customers wishing to buy goods and services.
Stitch president Junaid Dadan comments: “Crypto-currency adoption in South Africa has been one of the highest in the world. There’s a massive audience that would prefer to use their crypto to make payments. We’re excited to offer Stitch clients an opportunity to reach and serve this audience, without the need to take on direct volatility risk, thanks to our ‘Pay with crypto’ method.”
Stitch is an application programming interface fintech start-up launched in February 2021, with offices in Cape Town and Johannesburg, and Lagos, Nigeria.