Youtap, the global provider of contactless mobile money payments and financial services software, has partnered with MatchMove to provide Youtap customers in Africa and Asia with an off-the-shelf open-loop payment acceptance solution for wallets that are still closed-loop.
Youtap will integrate MatchMove Wallet OS to Youtap Pay, Youtap’s mobile money payment processing platform. The combined solution will enable mobile operators to issue Mastercard companion cards to their mobile money customers, and also provide remittance, loyalty and other relevant services. Cards can be branded and integrated with any telecom operator’s current mobile wallet app using the rich set of MatchMove Wallet OS APIs and technologies.
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.
Chris Jones, CEO and founder of Youtap, said, “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.”
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.”
On entering into this partnership, Gitesh Athavale, MatchMove Senior Vice President and General Manager of Payments, said, “ We are excited to be working with a proven partner like Youtap in creating a platform that enables users to perform the functions of Spend, Send, and Lend in a secure, cashless and accessible manner. By partnering with Youtap, MatchMove continues to strive forward in being a solution provider to industries and individuals’ that require payment and the convenience of going cashless.”
Youtap’s mobile money platforms are implemented in 21 countries globally with various payment service providers and mobile network operators. The company has contracts to implement Youtap Pay in multiple countries throughout the Middle East, Africa and Asia.