Stitch President Junaid Dadan shares more on our latest product launch, as Stitch evolves into a full Payments Service Provider - defined as a third party that enables businesses to accept, manage and send digital payments through a variety of methods.
We’re excited to share our latest evolution at Stitch. Today we launched two new pay-in methods - Card and Debit Order - and our payments orchestration and reconciliation system, PayOS. Combined with our existing pay-in methods and Payouts, Stitch has now expanded to become a full, end-to-end Payments Service Provider.
Stitch is a client-first business. We work closely with client teams as more than a payments provider; we act as a thought partner, helping them to optimise the way they run their payments environments. Over time, our clients have started asking us to support them with even more solutions. This evolution is in large part a response to that demand, and an effort to fill gaps we still see in the market across the payments stack.
Today, the Stitch payments suite is designed specifically for businesses with complex payments needs, offering a high level of flexibility and customisation.
Through a single API integration, now Stitch clients can:
Today Stitch launched pay-ins via Debit + Credit Card. Stitch Card:
Clients can also now accept Debit Orders or Debicheck payments through Stitch with:
Clients that use multiple PSPs for pay-ins struggle with reconciliation across banks and providers, as well as with the large engineering lift required to enable and maintain these integrations. PayOS is a SaaS solution - the first of its kind in the market - that enables clients to integrate directly into multiple PSPs and manage payments across methods, providers and geographies, all through a single integration.
PayOS offers more freedom when it comes to the way clients manage and orchestrate their payments because it allows them the flexibility to maintain existing commercial agreements, and set their own rules based on which methods and providers work best for particular customers in particular instances.
Thanks to these direct integrations, we can aggregate and standardise data from across providers into a single source of truth, simplifying the reconciliation process and making finance and payments teams much more efficient.
Clients can easily send refunds and withdrawals, and disburse funds via Payouts, in real-time over API. We help clients manage float and ensure payouts are settled into verified recipient accounts.
For existing Stitch clients, additional development work required to enable these new solutions is minimal. For new Stitch customers, all payment methods can easily be combined via a single integration, and managed via PayOS.