The big screen isn’t enough for South Africa-based broadcasting company MultiChoice Group.
Yesterday, the company announced its foray into fintech with the launch of Moment, an integrated payment platform for Africans.
According to the company’s statement, “Moment offers 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”.
A joint venture: MultiChoice is not going for the moment alone, though. MultiChoice is sharing the spotlight with two other investors, London-based fintech Rapyd and California-based VC firm General Catalyst.
While Moment’s short-term goal is to consolidate the $3.5 billion MultiChoice processes annually, the platform’s long-term goals are to provide payments infrastructure for millions of small businesses on the continent, and turn 90% of Africa’s…