How MultiChoice and Moment Are Transforming Africa’s Digital Payments Ecosystem

Africa’s dynamic population growth, projected to reach 2.5 billion by 2050, offers immense opportunities for those willing to invest time and effort into understanding its complexities. Despite challenges like currency devaluation, political instability, and service disruptions, the continent remains a fertile ground for innovation and enterprise. Digital connectivity is empowering Africans to improve their lives, start businesses, and embrace the digital economy.

One of the critical enablers of this transformation is payments. Simplifying and standardizing payment systems can unlock Africa’s financial potential. MultiChoice, a leading pan-African video entertainment provider, exemplifies this. Over nearly 40 years, MultiChoice has built a network serving 23.5 million customers across 50+ markets. In 2024, the company launched Moment, a digital payments ecosystem designed to streamline financial transactions across Africa.

Moment initially served MultiChoice’s platforms, such as DStv and Showmax, and quickly expanded to process 35% of the group’s revenue by late 2024. Its services now span 44 countries, supporting over 200 local payment methods, including mobile money, bank transfers, and in-person payments at more than 1 million locations. By enabling businesses and consumers to shift from cash to digital, Moment enhances access to better financial opportunities, lower prices, and higher-quality services.

To support large enterprises like MultiChoice, Moment has developed a robust, cloud-native infrastructure capable of handling Africa’s unique challenges, such as power outages and network disruptions. The platform simplifies financial reconciliation, providing enterprises with accurate daily cash flow data while freeing up resources to focus on growth.

Moment also opens Africa’s mass market to businesses, offering access to payment channels that reach spaza shops, modern retail locations, and online platforms. A single API connection provides seamless integration with the largest suite of payment options tuned to local markets.

In a significant move towards real-time payments, Moment partnered with MultiChoice to launch PayShap in South Africa, the first consumer-to-business real-time payment option built on the country’s RPP payments system. Similar initiatives are underway in SADC countries and Nigeria, promising faster, cost-effective payment solutions across the region.

Simplifying Africa’s payments landscape is vital. The complexity of multiple agreements, exchange rates, and commission structures has long been a barrier to efficiency. By addressing these challenges, Moment not only streamlines processes but also enables businesses to focus on customer relationships and innovation.

Africa’s growth story is one of agility, creativity, and resilience. As the continent builds its digital economy, platforms like Moment are laying the groundwork for a future where efficient and cost-effective payments drive progress. The partnership between MultiChoice, global venture-capital firm General Catalyst, and payments company Rapyd ensures that Moment is poised to lead this transformation.

Africa’s payments revolution is more than a business opportunity; it’s a chance to empower the continent to achieve its full potential in the decades to come.

//Staff writer