MultiChoice to launch integrated payment platform, Moment

South Africa-based pay TV operator, MultiChoice Group in collaboration with Rapyd and General Catalyst is to launch integrated payment platform, Moment, for Africa.

Moment will deliver an expanded payment infrastructure for businesses across Africa to help them collect and make payments easier, quicker, and more affordable in any manner that their buyers or suppliers prefer. It will also provide additional options for consumers to spend and save money more wisely.

The joint venture aims is to transform the African payments landscape by making digital payments more accessible and reliable for domestic, cross-border and global payments.

The platform will consolidate the $3.5bn in payments that the MultiChoice Group processes annually to expand options for subscribers and make payment processes efficiently, as well as extend Africa’s most complete payment network to African and global businesses.

The company said Moment’s long term service offering includes, payments across more than 40 countries in Africa through over 20  locally preferred payment methods to collect, disburse and manage risk. Drive adoption of PayShap, TCIB, NQR, and other real-time payment methods across all markets. Global-Africa trade for importers and exporters with virtual accounts in 40+ currencies and local payments in 130 plus countries. Payment tools, deep inventory to sell and financial services for micro-entrepreneurs and SMEs, as well as, offering consumers payments, savings and rewards.

Calvo Mawela, MultiChoice Group, CEO, said:  “We are excited about our venture with Rapyd and General Catalyst. It will address the need for an accessible and reliable payment platform for many small businesses and millions of consumers in Africa. Investing in this venture is a logical progression for us, as we already process payments every month from 22 million households across 50 countries in Africa. Moment fulfills our strategy to expand our ecosystem, by investing in adjacent businesses that provide scalable services, underpinned by technology.”