Youtap has announced the launch of their now cloud-based mobile money payment processing platform. It is said to allow for processing of contactless mobile money and bank wallet payments.
Youtap is a FinTech company that specializes in contactless mobile payments.
“Other merchant payment platforms may take months to install. Youtap’s cloud-based white label solution can be skinned for mobile money services in a matter of weeks. Merchants with a participating service can download the Android app, register and start processing digital payments in less than 24 hours,” said Peter Meredith, Chief Marketing Officer at Youtap.
Meredith added that providing their payment platform as a cloud-based service allows for faster delivery and implementation. Earlier in 2017, Youtap partnered with MTN Benin to launch MoMoPay contactless mobile payments for MTN Benin Mobile Money users.
Youtap Cloud connects to banking and traditional payment networks through a range of interfaces and to blockchain for digital payments, interbank, interbranch and cross-border settlement. The service is deployed from regional PCI-compliant data centres as a public or private cloud service. Based on Java and Oracle, with a range of Android and Apple OS apps, Youtap Cloud provides banks and payment service providers with open APIs to integrate the next generation of mobile payments into their existing banking and payment applications. It can be integrated with an existing mobile wallet or for new entrant companies requiring a mobile wallet.
Youtap Cloud can be integrated with devices from Verifone, Pax and Ingenico, while also supporting Android and Linux based devices from a variety of manufacturers.Youtap’s encrypted payment processing network ensures that transaction data is safe and secure. Use cases for the service include merchant payments, airtime top-up, bill payments, toll-road and transport payments, disbursements and welfare to citizens and refugees, loyalty and promotions, microfinance and international remittances.