Stitch Group now supports cross-border invoice settlement

For many South African businesses, paying an international invoice is often more complicated than feels like it should be. Settling a supplier, a service provider or a technology partner in a foreign currency typically involves navigating multiple intermediaries, managing FX timing and rate risk, dealing with BOP (Balance of Payments) reporting obligations and waiting several days for correspondent banking transfers to clear. The operational overhead is significant, and the costs of getting it wrong are high.

Stitch Group clients can now settle international invoices in USD and other G10 currencies in a streamlined, compliant and cost-efficient way, all managed through a single provider. The service is delivered through Stitch Group entities, and in partnership with a South African Authorised Dealer.

The problem with cross-border invoicing today

South African businesses that transact internationally, whether paying for SaaS tools, settling offshore logistics partners or managing supplier relationships abroad, face a structurally inefficient process. The traditional route requires coordinating between banks, understanding and applying the correct BOP codes, submitting FinSurv reports and navigating exchange control regulations, all while trying to secure a competitive FX rate and move funds quickly enough to meet payment terms.

For finance and treasury teams, this creates a recurring administrative burden – not to mention challenges with reporting and compliance requirements. For businesses without a dedicated treasury capability, it often means relying on banks as the default, a route that offers limited visibility, slow settlement times and little control over FX execution.

How Stitch Group handles international invoice payments

The Stitch Group coordinates the end-to-end cross-border invoice settlement process on behalf of clients. The business deposits ZAR into a collection account operated by Stitch Group entities, and Crisscross FX, the Treasury Outsourcing Company (TOC), manages FX conversions.

Settlement can happen at T+0 or T+1, which is a material improvement on the multi-day timelines typical of legacy correspondent banking. FX rates are accessed through deep liquidity pools, giving clients competitive execution without having to source rates independently or negotiate directly with a bank's forex desk.

Everything is managed through a centralised dashboard where you can view your ZAR balance, book FX deals, review and accept rates, and upload supporting documentation in one place. There is no crypto or stablecoin involvement required; the full solution operates in traditional fiat currencies throughout.

How Stitch Group handles international invoice payments vs traditional banks

There are a few core advantages businesses can get when leveraging Stitch Group for international invoicing:

‍

• An API for foreign payouts: Banks require a lot of back and forth, as well as files, forms and emails whenever you send international payments. The Stitch API enables fast, streamlined and automated transactions
• Faster turnaround times: settlement to the offshore beneficiary is completed at T+0 or T+1 versus the average T+2 – T+3 via a traditional banking channel.
• Streamlined reporting and compliance: We help businesses manage reporting and compliance requirements

‍

Who this is for

This service is designed for businesses that pay international invoices with any regularity and want to reduce administrative overhead, improve settlement speed and access better FX rates than they'd typically get through a retail banking channel.

Common use cases include businesses settling offshore technology vendors or SaaS providers, importers paying international suppliers within agreed payment terms, companies managing ongoing service agreements with offshore partners, and businesses that have previously absorbed FX and treasury management as an internal overhead they'd prefer to outsource.

The full solution operates in traditional fiat currencies, so it’s equally suitable for businesses operating in regulated environments where fiat-only transaction requirements apply.

Getting started

For existing Stitch clients, adding cross-border invoice settlement is a straightforward process, handled by the Stitch Group FX team with minimal change to your existing setup.

If you're not yet working with Stitch and want to understand how this fits alongside the broader platform, including online payments and payouts, get in touch at sales@stitch.money.

‍

FAQs

What is cross-border invoice settlement through Stitch Group?

‍Stitch Group coordinates the end-to-end process of settling international invoices in foreign currencies on behalf of South African businesses. ZAR is collected by Efficacy (the acquirer); CrissCross FX (a SARB-approved Treasury Outsourcing Company) coordinates FX pricing and instructs a South African Authorised Dealer bank; the Authorised Dealer performs the FX conversion, effects the outward payment and completes FinSurv / BOP reporting. For the client, the experience happens seamlessly through a single platform.

What currencies can I settle invoices in?

‍Stitch Group currently supports ZAR inflows and settlement in USD and other G10 currencies.

How long does it take to settle an international invoice?

‍Settlement can be completed at T+0 or T+1, significantly faster than legacy correspondent banking, which typically takes several business days.

Does Stitch Group handle the regulatory and BOP reporting requirements?

‍FinSurv reporting and the outward remittance may be only performed by an Authorised Dealer. The Stitch Group ensures the correct BOP details, invoice, and supporting documentation are captured for each transaction so the AD's reporting is accurate - removing that burden from your team.

Is crypto or stablecoin infrastructure used at any point?

‍No. The solution is fully fiat-based. ZAR goes in and the recipient receives their settlement in a fiat currency such as USD.

Who is CrissCross and what role do they play?

‍CrissCross FX is a SARB-approved Treasury Outsourcing Company (TOC), operating within the Stitch Group. As a TOC, CrissCross acts as an intermediary sourcing competitive FX quotes and instructs a South African Authorised Dealer, which performs the FX conversion and BOP reporting. The client’s commercial relationship is with Stitch Group, simplifying compliance and operational requirements.

How do I get access to this through Stitch?

‍Existing Stitch clients can contact their account manager or reach out to the Stitch Group FX team to get started. New clients can get in touch at sales@stitch.money.

‍

‍