Youtap, a contactless mobile payments and financial services software provider, has introduced a QR code solution and smartphone apps for mobile money services in Africa and Asia.

The new app facilitates customer-initiated or merchant-initiated QR code payments for smartphones and smart point-of-sale devices.

Complying with the standards of the BharatQR that was developed by Bharat, Mastercard and Visa, Youtap’s apps can be white-labelled and branded with the logo and colours of the mobile money service.

Any merchant or small business owner with a smartphone can download Youtap’s Merchant App, self-register, and start accepting mobile money payments.

Similarly, any subscriber with a smartphone can download the Youtap Pay App and start making payments. Merchants who do not own a smartphone can use a printed QR code to accept mobile money.

Youtap’s QR code solution supports a number of mobile money transactions, such as cash-in and cash-out transactions, airtime top-ups, bill payments and in-store payments. Additionally, QR codes can also be used to give back change when a customer uses cash.