Youtap packages latest point of sale device as solution to mobile money processing in Africa
Youtap, a global provider of contactless mobile payments and financial services software, is offering its new X8 'micro' point of sale device as a packaged solution for mobile money and payment service providers.
Youtap's X8 package includes a supply of X8 merchant POS devices, a supply of NFC tags, cards, or wearables needed to launch 'tap and pay' services, access to Youtap Pay Express, an integrated software and hardware payment processing platform and various options for payment
Youtap's new NFC X8 is a small, low-cost point-of-sale device that can fit easily in a merchant's pocket or be worn around the neck. The X8 can process all mobile money transactions, including cash-in and cash-out transactions, airtime top-ups, bill payments and in-store payments.
The discreet size and low price of the X8 make it ideal for mobile airtime resellers, small shops, wet markets, street vendors, taxi drivers and other transport operators who need a secure and convenient way to accept mobile money.
Youtap has enhanced traditional mobile wallet transactions by integrating closed-loop mobile wallets with open-loop payment providers. Youtap's technology enables high-speed merchant payment and cross border transaction processing and integration across multiple third-party platforms to utilise all types of existing and new POS devices.
The Youtap Pay payment processing platform has rich APIs, which enables integration with solutions offered by banks, payment service providers (such as Visa and Mastercard) and third-party mobile wallets.
Youtap Pay Express is an 'entry-level' processing platform that gives mobile money service providers access to the technology they need to launch NFC-based payments in a new market, with the ability to upgrade to the Youtap Pay platform.
"Merchant payments are growing at a phenomenal rate in emerging markets," said Chris Jones, CEO of Youtap.
"Youtap is at the forefront of this growth, enabling more than 30 payment providers in Africa alone to process large volumes of in-store, transportation and cash-related transactions," he said. "By bundling X8 acceptance devices with the Youtap Pay Express platform, we're providing mobile money services with the latest in mobile money payment processing technology and an entry ramp into merchant payments."