Youtap introduces cloud-based payment processing platform

Youtap has launched a cloud based, white label payments platform for mobile money and payment providers in emerging markets.

Youtap introduces cloud-based payment processing platform

Dubbed Youtap Cloud, the new solution enables immediate fund transfers for contactless mobile money and bank wallet payments. It also supports QR code payments, NFC technology, point-of-sale (POS) devices, companion cards and wearables.

Youtap Cloud platform connects to banking and traditional payment networks through different interfaces and via blockchain for digital payments, interbank, interbranch and cross-border settlement.

Youtap chief marketing officer Peter Meredith said: “Providing the payment platform as a cloud-based service allows for faster delivery and implementation. Mobile money providers can transform their business quickly and gain an edge over the competition in their markets.

“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.”

Youtap Cloud would support Android and Linux based devices and can be integrated with devices issued by Verifone, Pax and Ingenico.

The platform features a transaction-based pricing model and includes white-labelled Android-based apps for merchants, consumers, and POS applications.

For integration with transport readers, Visa/Mastercard acceptance, biometric fingerprint registration and authentication, and social media payments, providers can select optional bundles, the company said. Interested providers can also select for additional analytics services.