Stitch Launches Linkpay to simplify bank transfer payments

According to a press statement by the company, Linkpay enables users to link their financial accounts and pay securely via instant bank transfer, in seconds

In a bid to simplify bank transfer payments for merchants in South Africa and Nigeria, Stitch, a South African fintech startup company has launched LinkPay.

According to a press statement by the company, Linkpay enables users to link their financial accounts and pay securely via instant bank transfer, in seconds

“Traditional payment methods are no longer meeting the needs of Africa’s consumers, who demand faster, more convenient and more secure ways to pay. As well, businesses face long settlement times, high fees (up to 3.5% in South Africa) and chargebacks from card transactions, and high rates of fraud, impacting their ability to grow,” It stated.

It also adds, “Stitch LinkPay addresses these challenges with a more cost-effective, frictionless and secure payments product that tokenises user financial accounts to enable one-click payments (known as Instant EFT in South Africa and pay by bank in Nigeria).”