Youtap, MatchMove partner to deliver mobile money open-loop payments in Africa

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Youtap (www.Youtap.com), a global provider of contactless mobile money payments and financial services software, has announced a partnership with MatchMove (www.MatchMove.com) for providing an off-the-shelf open-loop payment acceptance solution for closed-loop wallets in Africa.

Youtap has worked closely with MatchMove to provide integration 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. Cards can be branded and integrated with an operator’s current mobile wallet app.

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.”

Youtap’s mobile payments platforms are operating in multiple countries in Africa and Asia with various payment service providers and mobile network operators. 

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Bontle Moeng is the Founder and Managing Director of BizNis Africa. Moeng has spent 16 years working in the digital and online media industry across Africa. She applied her trade at True Love magazine prior to discovering her passion for Investment news in key sectors across Africa. Moeng previously worked for ITWeb, Starfish Mobile Technologies, ITNewsAfrica, AVATAR Agency, eNitiate, Global Interface Consulting and Havas Johannesburg. Her primary focus is to provide solid and valuable content on investment opportunities for the ICT, Energy and Mining sectors across Africa. In addition, the online news publication assists global companies to expand their presence in Africa. Email: news@biznisafrica.co.za

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