MultiChoice, the pay TV giant, has successfully entered the fintech sector with its payment platform, Moment. Officially launched in 2024, Moment is the result of a collaboration between MultiChoice, the payments platform Rapyd, and the venture capital fund General Catalyst. The aim of this partnership is to transform the payments landscape in Africa by making digital payments more accessible and reliable for domestic, cross-border and global transactions.
Moment has reached a significant milestone by processing payments worth $85 million for DStv from the start of March 2024. The platform is playing a crucial role in the reboot of Showmax, DStv’s video-on-demand service. MultiChoice, by optimizing payment flows specific to this platform. In January 2024, Moment also began mass processing MultiChoice payment volumes for DStv.
Led by Calvo Mawela, Moment processes local and cross-border card payments in 44 Showmax markets and now accounts for more than 20% of the group’s payment volumes. Additionally, Moment has integrated real-time payments networks in 18 countries, including South Africa, and is currently piloting instant payments and account activation for DStv.
During the period under review, the fintech company raised $22 million in additional funding, with an $8 million contribution from MultiChoice. Moment is now valued at $82 million, with MultiChoice holding a 26% stake.
