Tech

South African payments platform, Stitch launches new app allowing users to pay with crypto

Published

1 year ago

November 30, 2023

South African payments infrastructure platform, Stitch has announced launching a new payment app called “Pay with Crypto”, which will allow customers and businesses to that wish to buy goods and services pay directly with cryptocurrencies.

President of Stitch, Junaid Dadan, who made the announcement, said the new payments API and tools were designed to reduce the effort required for businesses across sectors to connect to the financial system and deliver delightful experiences for their users.

“With Pay with crypto, businesses in South Africa can offer customers the option to make a deposit or check out using crypto stored in their VALR or Binance wallets, or send Bitcoin or Ethereum directly,” he said.

“The business will then get settled in ZAR, meaning they have no need to worry about managing currency fluctuations.

“Cryptocurrency adoption in South Africa has been one of the highest in the world. There’s a massive audience that would prefer to use their crypto to make payments.

“We’re excited to offer Stitch clients an opportunity to reach and serve this audience, without the need to take on direct volatility risk, thanks to our Pay with crypto method”, he said.

Stitch, which was founded in February 2021, is a payments infrastructure company that helps businesses scale faster, and operate more efficiently.

And with a recent $25 million Series A extension round, the startup has raised a total of $52 million in funding, and expanded to become an end-to-end payments service provider.

Related Topics:cryptocurrency Featured Payments Platform Stitch

Click to comment

Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

20 hours ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.

Tech

DR Congo sues tech giant Apple over illegal mineral exploitation

Published

2 days ago

December 18, 2024

Isaac Dachen

The Democratic Republic of Congo (DRC), has filed a criminal case against the European subsidiaries of tech giant, Apple, accusing them of illegal mineral exploitation and allegedly using “blood minerals” in its supply chain.

In the suit filed on Tuesday, the DRC alleges that Apple has bought contraband supplies from the country’s conflict-ladden east and Rwanda, zones in which it allege the materials are mined illegally and then integrated into global supply chains before ending up in tech devices.

The DRC suit specifically mentioned Apple subsidiaries in France and Belgium, accusing the tech giant of using conflict minerals in its supply chain.

The DRC is a major source of tin, tantalum, and tungsten which are used in electronic devices, with some mines controlled by armed groups responsible for human rights violations.

International lawyers representing the African country’s government have accused Apple’s local subsidiaries of taking these minerals from conflict areas and laundering them through international supply chains, with one lawyer telling journalists that Belgium had a moral duty to act given its history of exploiting the country’s resources under colonial rule.

However, in its response, Apple claims it conducts supplier audits and does not directly source primary minerals.

https://www.thenews.com.pk/print/1262670-dr-congo-sues-apple-over-alleged-illegal-mineral-exploitation