Efficacy Payments has been acquired by Stitch Group, enabling the Group to offer card acquiring services

Following the acquisition of ExiPay earlier this year, which enabled us to enter the in-person payments space, we’re pleased to announce our second major strategic acquisition: Efficacy Payments. 

Efficacy’s designation as a Designated Clearing System Participant (DCSP) further enhances the Group’s ability to provide more seamless and cost-effective transactions, further underscoring our commitment to serving clients across more of their payments needs. 

As a DCSP, Efficacy enables the Stitch Group to offer a comprehensive, end-to-end card product with full control over the whole product lifecycle.

What this means:

• Efficacy is directly connected to Visa and Mastercard: There is no dependency on an external acquiring bank
• Stitch Group entities can now offer gateway, switch and acquiring services: Merchants can rely on the Stitch affiliated companies to perform end-to-end acquiring services across technical, compliance, financial and operational requirements 
  

For enterprise merchants, this results in:

• Cost savings: from lower fees by working with our own acquirer, thanks to optimisations in the way messages are sent, there is a reduction in the need for internal resources to manage reconciliation across multiple interfaces and multiple parties
• Better conversion: due to optimisations in the way messages are passed through card networks
• Faster access to new products and features: Due to a reduction in bank and third party dependencies and delays, the Stitch Group has greater autonomy to provide the latest products and features to our clients
• Real time reporting and reconciliation: merchants monitor the state of their payments and associated fees through a real-time view of transactions, as well as set up custom reporting at various frequencies, with fewer settlement and reconciliation issues 

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