Youtap has launched its
cloud which offers a payment processing platform as a service for mobile money
and payment providers in developing markets, reports ITRealms.
Peter Meredith, chief marketing officer for Youtap in Kenya,
said that Youtap Cloud enables real-time transaction processing for contactless
mobile money and bank wallet payments. It supports QR code payments, as well as
Near-field communication (NFC) technology, including low-cost micro
point-of-sale (POS) devices, companion cards and ‘tap and pay’ using tags or
wearables.
“The solution is a white-label service with minimal upfront
costs, allowing the provider to focus on go-to-market initiatives and merchant
acquisition,” he said.
Meredith also noted that 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,” he said.
In addition, 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,” he said.
“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,” he said.
Youtap Cloud, he said, could 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.
He explained that to 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.
Uboshe Uboshe/GEE
ITREALMS ... everything news digitally!
No comments:
Post a Comment