Following this announcement, the company also launched a rebrand alongside the funding round, in order to focus on its development process and journey. In addition, Stitch will continue to prioritise the procedure of meeting the needs, preferences, and expectations of its clients and users, while also remaining compliant with the requirements and the laws of the industry.
The aim of the company is to design a client-friendly infrastructure, as well as a secure and efficient suite of tools that can be leveraged in order to simplify and improve the task of developing effective financial experiences. For this to take place, Stitch will focus on better understanding its customers and the trends that are currently impacting their businesses.
Stitch focused recently on improving its orchestration and reconciliation capabilities at scale, in order to meet the expectations of its users and understand their needs according to the trends and challenges that happen in the industry.
Stitch will provide its clients with PayOS, a solution that was developed to improve the manner in which customers optimise their payments and streamline finance operations, providing teams with one secure place where they can view and orchestrate all of their transactions. The process takes place by gathering data and information on which of the products are performing best for their overall business. The goal of the company is to utilise PayOS in order to accelerate its development process and improve the overall customer experience.
In addition, the company aims to expand into new markets in the future.
Included in the trends that are popular at the moment in the industry are multi-methods payments, multi-provider environments, unified commerce, complex payment flows, as well as embedded payments as a feature of other platforms and services.
As the industry has an increased overall uptake of various types of wallets and a developed share of bank payment methods, merchants and traders will need providers that can offer multiple payment methods with equal and secure features across all of them. In addition, multiple payment methods that are leveraged across several geographies around the world require the need of a merchant to have multiple providers, both in each of the markets and across them. This represents a challenge, as the providers are required to be flexible and fit into complex payment environments, while also integrating directly with traders and through existing platforms in a secure and fast manner.
Stitch will also focus on the complex payment flows that take place as business models evolve. As a result, more platform and marketplace models are set to become frequent in large enterprises and institutions. This will require providers to be able to accommodate pay-ins and payouts in a safe way, as well as to orchestrate split payments, and be flexible to personalise the services for their possible users and clients.
Digital and physical channels are merging while orders and payments are currently required to move across both environments. Thus, the ability for online payment providers to interface with secure offline point-of-sale systems is currently becoming a key factor in the process of making a purchase decision.
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