MultiChoice reports to diversify its operations by debuting a FinTech infrastructure to conglomerate the pay television network for Africa to process seamless payment solutions to access aired/satellite media on TV. MultiChoice Group had to collaborate with other technology companies including JV, Rapyd, and General Catalyst that offered generously to promote the pay-TV media newly developed FinTech platform.
The pay-TV group CEO Calvo Mawela said the new FinTech solutions MultiChoice is introducing to the African market is a standalone payment company that carries the emblem of its parent company. The South African pay-TV group dubbed the integrated payment platform for the African market “Moment” which gives the pay television company an edge to spread its wings and float toward expansion.
This denotes that viewers based in the African market will continue to subscribe to the pay-TV without experiencing the presence of third-party payment solutions. The pay-TV company reported that Moment will centralize its conglomerate operations — MultiChoice fiscal report records the least $3 billion per annum based on its user base and subscription preferences.
For context, MultiChoice Group is a conglomerate network of pay-TV services such as DStv, SuperSport, and other media assets that demand viewers’ subscriptions to stream television programs. Still, the pay-TV flagship media network has recorded plummeted earnings due to the current market conditions that are highly competitive in line with the impact of prominent streaming service providers gunning to rival traditional TV broadcasters.
Mawela’s comments revealed that the in-house FinTech solutions advance its conglomerate media network to attain expansion debuting Moment as a standalone payment platform. MultiChoice Group and the listed investors consented to develop Moment as a payment infrastructure that will be accessible to other businesses as a third-party payment solution likewise serving individuals as an optimal standalone payment platform
“Moment offers expanded 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. Moment will also offer additional options for consumers to spend and save money more wisely. The aim is to transform the African payments landscape by making digital payments more accessible and reliable for domestic, cross-border, and global payments,” in line with the pay-TV group’s report on Moment’s debut.
The payment Infrastructure by MultiChoice is optimal to serve its target market which comprises “many small businesses and millions of consumers in Africa.” However, the payment infrastructure is another investment the pay-TV group and its team of investors engineer to revive the plummeting earnings faced by its flagship media network. Likewise, serve as another stream of income that will hike MultiChoice’s revenue.