Peach Payments provides a complete toolkit to help businesses accept, manage and disburse payments through web and mobile, and is active in South Africa, Kenya and Mauritius, while Stitch is a fintech infrastructure and payments company that helps businesses more easily launch, optimise and scale their solutions. 

The new payment method offered by the two is available to all Peach Payments merchants, on any integration platform, as “Instant EFT by Peach Payments”. The partners said the new payment option offers superior transaction success rates, a seamless payments experience, higher security measures, a cost-effective payment method, additional reach to also serve those without cards, and the ability to pay in one click across any Peach Payments merchant for returning users.

“We have found that offering a wide variety of different payment methods makes a real difference to businesses’ bottom line. Instant EFT by Peach Payments gives shoppers an additional way to pay, meaning that even if their card doesn’t work, the transaction can still be completed,” said Rahul Jain, CEO of Peach Payments.

“Our goal is to make it as easy, secure and cost-effective as possible for customers to pay online – which ultimately means more growth for online merchants who are massive drivers of South Africa’s economy. We’re thrilled to partner with a leading player in payments like Peach Payments to help more merchants get paid easier, and receive their funds faster with our Instant EFT solution,” said Stitch CPO Junaid Dadan.