BY: ITWeb, Staff Writer.
MultiChoice, Rapyd and General Catalyst have entered into a joint venture aimed at developing an integrated payment platform for the African continent.
In a statement today, the pay-TV group says the joint venture will operate under a new company called Moment.
Moment will offer expanded payment infrastructure for businesses across Africa, helping them collect and make payments “easier, quicker and more affordable” in any manner their buyers or suppliers prefer, it states.
The new company will offer additional options for consumers to spend and save money. The aim is to transform the African payments landscape by making digital payments more accessible and reliable for domestic, cross-border and global payments.
“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,” comments MultiChoice Group CEO Calvo Mawela.
“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. Moment fulfils our strategy to expand our ecosystem, by investing in adjacent businesses that provide scalable services, underpinned by technology.”
According to the statement, Moment will consolidate the $3.5 billion (about R69 billion) in payments that MultiChoice processes annually.
ultiChoice, Rapyd and General Catalyst have entered into a joint venture aimed at developing an integrated payment platform for the African continent.
In a statement today, the pay-TV group says the joint venture will operate under a new company called Moment.
Moment will offer expanded payment infrastructure for businesses across Africa, helping them collect and make payments “easier, quicker and more affordable” in any manner their buyers or suppliers prefer, it states.
The new company will offer additional options for consumers to spend and save money. The aim is to transform the African payments landscape by making digital payments more accessible and reliable for domestic, cross-border and global payments.
“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,” comments MultiChoice Group CEO Calvo Mawela.
“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. Moment fulfils our strategy to expand our ecosystem, by investing in adjacent businesses that provide scalable services, underpinned by technology.”
According to the statement, Moment will consolidate the $3.5 billion (about R69 billion) in payments that MultiChoice processes annually.
Source: https://www.itweb.co.za/content/raYAyMorQZ67J38N
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