South African Payment Provider Stitch Launches Crypto Payment Service For Direct Transactions
South African payment service provider Stitch has launched a groundbreaking product, allowing customers to settle transactions with cryptocurrency.
This innovative functionality, compatible with bitcoin (BTC) and ether (ETH), enables direct payments as stated by Stitch. Leveraging Valr’s API, the “pay with crypto” service allows customers to make purchases in cryptocurrency, while businesses receive settlements in South African rand (ZAR), effectively addressing concerns about cryptocurrency volatility.
Valr’s head of growth, Blake Player, anticipates significant growth in crypto payments, particularly in the e-commerce sector. Stitch’s press release highlights the diverse sectors set to benefit, including online marketplaces, e-commerce businesses, gaming platforms, and trading platforms, signaling broader acceptance of crypto payments. Stitch President Junaid Dadan emphasizes the opportunity for clients to tap into a wider audience without exposing themselves to direct volatility risks.
Clever Robot News Desk 25th November 2023
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