Multichoice Group has announced that it is launching a new integrated payments platform in partnership with Rapyd, a B2B payment processing platform, and General Catalyst, a venture capital firm that provides early-stage and growth equity investments.
The platform, to be housed under an entity called “Moment”, will aim to offer 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.
Multichoice’s stock was down by almost 2% by market close from its opening price, perhaps pointing to the shareholder's lack of faith in the company’s ability to make a mark in an already extremely competitive payments space.