May 18, 2017
Youtap has introduced what it calls an inexpensive retail enablement product to help mobile network operators, banks and payment providers boost transaction revenue. The company’s product enables Tier 2 and Tier 3 merchants to accept NFC and QR code-based mobile money payments on the go, according to a press release.
The product relies on Youtap’s NFC X8, a small, discreet 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, according to the announcement.
Youtap said the X8 is ideal for mobile airtime resellers, small shops, street vendors, taxi drivers and other transport operators who need a secure and convenient way to accept mobile money.
The X8 also provides the user a transaction ledger and know-your-customer data collection.