South Africa-based payments infrastructure company Stitch has announced acquisition of Efficacy Payments, its second major strategic acquisition, enabling the firm to offer card acquiring services directly to merchants as a Designated Clearing System Participant (DCSP), and provide more seamless and cost-effective transactions.

By bringing Efficacy within the Stitch group, Stitch has become one of the first fintechs in South Africa to offer direct card clearing both online and in-person, underscoring its commitment to serving clients across more of their payments needs.

As a designated clearing system participant, Stitch can offer a comprehensive, end-to-end card product with full control over the whole product lifecycle.

For enterprise merchants, this results in:

aid Junaid Dadan, President and Co-founder at Stitch.

Efficacy was launched in 2016, and it was designated as a clearing system participant in 2021, as the second fintech in South Africa to achieve this.

This is the second major acquisition for Stitch, following its acquisition of ExiPay in January 2025, which allowed the firm to expand from online payments into the in-person payments space.

Today Stitch offers a true omnichannel payment platform, allowing multi-lane retailers, telcos and other omni-channel businesses to modernize their in-store and online payment experiences.

Stitch emerged from stealth in February 2021 and has raised $107 million in total funding to date, including its recent Series B round of $55 million announced in April 2025.

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