Youtap, which enables mobile money and stored value wallet customers to tap and pay at any point of sale using any payment device with itss secure NFC contactless and non-contactless cards, NFC tags and wearables, and NFC phones has partnered with MatchMove to provide Youtap’s customers in Africa and Asia with an off-the-shelf open-loop payment acceptance solution for closed-loop wallets.
The deal will see the two provide integration to Youtap Pay, Youtap’s mobile money payment processing platform to enable mobile operators to issue Mastercard companion cards to their mobile money customers. Cards can be branded and integrated with an operator’s current mobile wallet app.
Youtap’s secure NFC and QR code solutions support payment acceptance for contactless and non-contactless cards, NFC tags and wearables, and NFC phones. Youtap supports MNOs and retailers by incorporating loyalty programs and other responsive functionalities that benefit both consumers and merchants.
According to Chris Jones, CEO and founder of Youtap, “Our partnership with MatchMove is yet another disrupter for cash transactions in growth markets. It makes it possible for customers without credit cards to buy products online and in stores with mobile money.”
This partnership is in response to the growing demand for Mastercard companion cards connected with mobile money accounts globally. It provides for tight integration for the acquiring, processing and settlement of credit, debit and prepaid cards linked to a mobile money wallet.
Youtap’s mobile payments platforms are operating in multiple countries in Africa and Asia with various payment service providers and mobile network operators.
MatchMove enables companies to offer a fully branded secure mobile wallet solution, increasing revenue and user engagement. A member of the Mastercard network, MatchMove proprietary Wallet OS™ is built with the vision of strengthening financial inclusion through enabling its Spend, Send, Lend™ capabilities across developed and developing markets. MatchMove is headquartered in Singapore but has new offices in South Africa and Dubai to support its global growth.
Shailesh Naik, CEO of MatchMove, said, “MatchMove is committed to accelerating financial inclusion for the millions of people worldwide who are now connected digitally via their smartphones but remain unbanked and uncarded. Our partnership with Youtap will expand the availability of our secure cashless solutions for mobile operators around the world, thus creating a new channel to bridge the gap between mobile money and end users.”