As its other businesses continue to struggle, Multichoice is making a play at payments.
Multichoice Group has announced that it is launching a new integrated payments platform in a partnership with Rapyd, B2B payment processing platform, and General Catalyst, a venture capital firm that provides early-stage and growth equity investments.
The platform, to be housed under an entity called “Moment”, will aim to offer 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.
Additionally, the platform will offer additional options for consumers to spend and save money more wisely with an aim to “transform the African payments landscape by making digital payments more accessible and reliable for domestic, cross-border and global payments.”
Multichoice’s stock was down by almost 2% by market close from its opening price , perhaps pointing to…