MultiChoice’s Moment

Moment, a fintech company established as a joint venture between MultiChoice, Rapyd, and venture capital investors, is showing strong growth.

Simply put, Moment is a pan-African payments network that connects African businesses to each other and the world.

The company leveraged MultiChoice’s 200 payment partner integrations across the 44 markets where it operates.

Moment processes payments for MultiChoice’s Showmax, GoTV, and DStv businesses, as well as other third-party merchants across Africa.

As MultiChoice only holds a 28.5% stake in Moment, its finances are not consolidated into the group’s results. Instead, it is equity accounted.

In its latest financial results, MultiChoice revealed that its digital payment footprint in South Africa continues to expand, and R4.6 billion in payments originated from digital platforms.

Its partnership with Moment accelerated this financial year, with 81% of total payments now being channelled through the Moment ecosystem. This is up from only 5% a year ago.

Although the Rest of Africa is lagging behind South Africa, it has also made good progress and 56% of the group’s payments are not processed by Moment.

This is only the start. MultiChoice is working with the Moment team to onboard the remaining group payment volumes.

MultiChoice Group CEO Calvo Mawela said Moment continues to grow rapidly, with total payment volumes (TPV) reaching $635 million (R11.2 billion) at an annual growth rate of 700%.

“Its momentum was supported by a rapid acceleration of payment volume migration for DStv, GOtv and Showmax onto the Moment payment infrastructure,” he said.

As part of the growth, Moment launched voucher management to unlock Capitec and other strategic payment channels for Showmax.

It has improved in-store payment collections during load-shedding and network outages, and launched ‘Pay on TV’ by QR code to improve subscriber activity.

It was the first company in the market to launch PayShap for instant consumer-to-merchant payments, which reduced the cost of payments by 5.0%.

Moment completed its seed extension, raising $21.7 million in May 2024. MultiChoice, along with other founding backers, contributed to this round.