Stitch, a South African fintech startup, has introduced WigWag, a social commerce payment platform designed to empower small businesses by enabling them to accept digital payments through a distinctive payment link.
While Stitch provides scalable custom payment solutions tailored for large enterprises, WigWag will have a primary focus on serving small businesses.
“With WigWag, small and growing businesses can begin accepting local and international card payments in minutes, without the need for a website or developer resources. They simply need to send a unique payment link to customers in any chat or email,” the company said in a statement.
Virtually, any individual or business looking to accept digital payments can use WigWag:
- Register via the WigWag website (wigwag.me)
- Generate a payment link with the requested amount
- Send the link to the customer via any chat, SMS or email
- The customer can pay through the link via card. Through Stitch Card, they can also save their card details so they can pay that business in one click in the future.
According to Stitch, businesses using this platform have the capability to monitor pending payments and efficiently reconcile all transactions through the dashboard. Additionally, they can seamlessly gather delivery information as an integral part of the payment process, facilitating the tracking of where goods should be dispatched upon payment completion.
“We created WigWag specifically with these small business clients in mind. Now anyone can have access to reliable payments, powered by the Stitch API, and offer their customers a truly seamless experience,” said Danielle Laity, WigWag product manager at Stitch.
WigWag’s fee structure entails charging merchants 2.95% of the payment amount received. For customers using non-South African cards to make payments, WigWag will impose a fee of 3.4% of the purchase amount, ostensibly to cover foreign exchange expenses.
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