New Players Push Payments Solutions
African pay-TV operator MultiChoice Group, payments platform specialist Rapyd and venture capital firm General Catalyst have unveiled a joint venture aimed at developing an integrated payment platform for Africa. The joint venture will operate under a new company, called Moment. It will offer 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. The aim is to transform the African payments landscape by making digital payments more accessible and reliable for domestic, cross-border and global payments. Rapyd, a European based company, has announced that it has bought the PayU global division from Naspers for US$610m. This works into their strategy to become a major integrated payment platform for Africa and Europe.
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