Pan-African media giant, MultiChoice has launched a payments platform called Moment. The company, which houses popular brands such as Showmax, DStv, GOtv, and SuperSport will be doing this in concert with Israeli unicorn, Rapyd, and venture capital firm, General Catalyst.
General Catalyst’s portfolio includes Stripe, Rapyd, Monzo, Airbnb, Hubspot, and Canva.
MultiChoice’s new venture will see it provide payment solutions for businesses and individuals, enabling domestic and global payments. Moment will provide cross-border payments for businesses on the continent, drive the adoption of real-time payment methods and enable individuals to save and spend better.
While the company plies its trade in Africa’s media space, CEO Calvo Mawela believes this move is a logical progression considering the MultiChoice Group already processes $3.5 billion in annual payments from 22 million households.
Why is a media company getting involved in the notoriously difficult, but potentially rewarding…