South African payments infrastructure company Stitch has partnered with Standard Bank’s global money app Shyft to enable instant top-ups on the Shyft wallet for customers from any bank in South Africa.
Founded in February 2021, Stitch is a payments infrastructure company that helps businesses scale faster, and operate more efficiently. The Stitch payments API and tools reduce the effort required for businesses across sectors to connect to the financial system and deliver delightful experiences for their users.
The company, which has raised a total of US$52 million in funding, has now partnered with Standard Bank’s Shyft, the global money app, to enable instant top-ups on the Shyft wallet for customers from any bank in South Africa. The solution is a response to growing demand from Shyft customers for more immediate access to their funds.
“We’re excited to work with Standard Bank to bring this innovation to market and introduce an even better customer experience on the Shyft app,” said Kiaan Pillay, CEO and co-founder at Stitch.
“Shyft customers rely on them for money movement that often requires just-in-time access. They needed a payments partner that can deliver on the speed and reliability their customers expect. With instant top-ups via bank card through Stitch, now Shyft customers from any bank can invest, exchange funds, send money to friends and family and much more – in real time.”
Dani Morley, executive head of growth at Shyft, said the choice of strategic partner depended on a reliable payments platform that could deliver speed, convenience, security and control for our customers.
“Partnering with Stitch has enabled us to fulfill our clients’ expectations with unprecedented speed. Since customers from any bank can already onboard successfully onto Shyft, this collaboration allows us to continue providing exceptional service, and pricing, to clients from any banking institution by facilitating the funding of Shyft wallets from any bank card,” he said.
