Africa’s leading entertainment company Multichoice has launched a fintech platform known as ‘Moment’ to offer expanded payment infrastructure for businesses across Africa.
The company disclosed that its fintech platform will consolidate the $3.5 billion in payments that it processes, and also help consumers to spend and save money wisely.
Speaking on the launch of its fintech platform ‘Moment’, the company said,
“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. Moment will also offer additional options for consumers to spend and save money more wisely. The aim is to transform the African payments landscape by making digital payments more accessible and reliable for domestic, cross-border, and global payments.
Also speaking Multichoice Group CEO Calvo Mawela said,
“Investing in this venture is a logical progression for us, as we already process payments every month from 22 million households across 50 countries. Moment fulfills our strategy to expand our ecosystem by investing in adjacent businesses that provide scalable services, underpinned by technology”.
Moment aims to make digital transactions more accessible to the 350 million consumers that are under-banked or not banked at all. Eventually, it will offer payments across more than 40 countries and hundreds of payment methods to collect, disburse and manage risk.
Investors King understands that the long-term plan is to provide the infrastructure for pan-African payments for the 44 million small businesses operating on the continent and reduce the reliance on cash for payments”.
Some of the other long-term offerings include;
•Payments, Savings, and rewards for consumers
•Payment tools, deep inventory to sell, and financial services for micro-entrepreneurs and SMEs
•Drive adoption of PayShap, TCIB, NQR, and other real-time payment methods across all markets.
•Global-Africa trade for importers and exporters with virtual accounts in 40+ currencies and local payments in 130+ countries.
MultiChoice Group which was listed on the Main Board of the Johannesburg Stock Exchange (JSE) on 27 February 2019, is no doubt one of the fastest-growing video entertainment providers globally, delivering entertainment products and services to 22 million households across 50 countries on the African continent.
In 2020, MultiChoice had a total subscriber base of 20.1 million viewers throughout Africa, and reports asserted that it was one of the fastest-growing pay-TV operators globally.
Its track record of more than 35 years is reflective of a commitment to providing audiences with only the best local, sports, and international content.