An integrated payment platform for Africa is being developed through a joint venture announced by MultiChoice Group, Rapyd, and General Catalyst.
The joint venture will be managed by Moment, a new business. Moment delivers a more robust payment infrastructure to allow companies in Africa receive and send payments more quickly, easily, and affordably in the way that their clients or suppliers choose.
The goal is to change the way payments are made in Africa by making digital payments easier to use and more dependable for local, international, and cross-border transactions.
Moment intends to increase the usability of digital transactions for the 350 million unbanked or underbanked consumers.