Stitch acquires Efficacy Payments to become a direct card processor in South Africa

Stitch, the South Africa-based payments infrastructure company, has acquired Efficacy Payments, a digital payments startup with direct access to the national clearing system. The acquisition gives Stitch control over every layer of the card payment stack, making it one of the first fintechs in South Africa to offer end-to-end card-acquiring services without relying on banks or third-party…