MultiChoice and partners launches “Moment”, a new integrated payment solution for Africa

A collaborative venture between MultiChoice Group, Rapyd, and General Catalyst to create an integrated payment platform for Africa was unveiled on Monday.

The joint venture will run as a new business named Moment and provide payments in more than 40 African nations. To collect, disperse, and manage risk, this will be done via more than 200 locally favored payment options.

The three partners claim that Moment provides a more robust payment infrastructure for companies operating in Africa, enabling them to collect and process payments more quickly, easily, and affordably, according to the preferences of their clients or suppliers. Moment will also provide customers more ways to manage their spending and savings.

The three partners claim that Moment provides a more robust payment infrastructure for companies operating in Africa, enabling them to collect and process payments more quickly, easily, and affordably, according to the preferences of their clients or suppliers. Moment will also provide customers more ways to manage their spending and savings.

According to them, the goal is to change the way that payments are made in Africa by enhancing the usability and dependability of digital transactions for local, international, and cross-border transactions.

Moment will combine the $3.5 billion in payments that the MultiChoice Group handles yearly to increase subscriber options, streamline payment procedures, and give African and international companies access to Africa’s most comprehensive payment network.

The long-term goal is to give the 44 million small companies operating on the continent the infrastructure for pan-African payments. In addition, digital payments are intended to replace the 90% of retail transactions that are currently made in cash. Moment wants to increase the accessibility of digital transactions for the 350 million consumers who are underbanked or not banked at all.