MultiChoice Group partners with Rapyd and General Catalyst to create integrated payment platform

Dstv’s parent company, MultiChoice Group has joined forces with Rapyd and General Catalyst to create an integrated payment platform called Moment. The platfom will offer 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.

Moment 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.

It makes sense for MultiChoice Group to create such payment platform because it provides entertainment and related consumer services, such as video entertainment products and services through its linear and streaming platforms to 22.1 million households across 50 countries on the African continent.

“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,” adds Calvo Mawela, MultiChoice Group CEO.

“Moment fulfills our strategy to expand our ecosystem, by investing in adjacent businesses that provide scalable services, underpinned by technology,” Mawela added.

We are thrilled to be able to partner with MultiChoice and our network partners to provide Africa’s most complete payment platform for businesses through Moment,” says Arik Shtilman, CEO of Rapyd.

“Africa is one of the most exciting markets in the world – with tremendous opportunities to expand the use of digital payments, drive cash payments to real-time digital payments, and to capitalise on the tremendous entrepreneurial drive of African businesses,” adds Shtilman.

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