With estimates that smartphone adoption in the world will reach 50% by 2018, conventional payments via mobile apps are also evolving. One of these is Youtap’s Merchant App that the company has introduced to African and Asian markets for payment and transaction purposes. From paying to receiving change when a customer pays for goods by cash, the app will make mobile payments even more flexible. Bizrika wanted to find out more about this contactless software and its impact on African business and spoke to the team at Youtap.
Africa business note: Youtap sponsors a stand at the Seamless East Africa event in Nairobi 5th – 7th September.
What is Youtap QR code for a person using it for the first time?
Youtap’s QR code solution allows bank customers and mobile money subscribers to pay for products and services by scanning a QR code at the point of sale. Youtap’s apps (which are branded for the bank or mobile money provider) offer a similar user experience to other QR code payment services. Payments can be initiated by the customer or the merchant. They are fast and secure. What makes them different is that our solutions can serve both banked and unbanked consumers, and they enable both mobile money and banked users.
QR codes are in use in big merchant outlets. Will Youtap bring the codes closer to smaller retailers?
Youtap’s QR solution serves all tiers of the market – from large merchant outlets to street vendors. The only requirement is that the merchant and customer have an account with a mobile money service or bank that has integrated our Youtap Pay solution. Other QR code payment methods, such as Alipay and WeChat, allow access only to their own mobile wallets, and they typically rely on bank transfers to fund those wallets.
Youtap integrates well with particular brands of mobile money. Does this help retain customer confidence of particular operators?
Youtap has already integrated NFC ‘tap and pay’ solutions for many large mobile money providers across Africa. Our QR code solution is another way to improve the user payment experience. This helps mobile operators rapidly grow the merchant base, retain customers, and stay relevant to subscriber needs.
App-based payments are becoming a feature of modern life. Banks and mobile operators that don’t assimilate these new financial technologies risk being left behind. Operators that rely only on USSD technology are especially vulnerable to competition.
Are there ways to use Youtap QR code without a smartphone?
Customers with a smartphone can use Youtap’s solution if they have an account with a participating bank or mobile money service.
Merchants can use the solution with or without a smartphone. With a smartphone, any merchant with an account at a participating bank or mobile money service has the potential to download the app and accept digital payments. Without a smartphone, the merchant can use a unique printed QR code displayed at the till.
Youtap offers NFC-based ‘tap and pay’ solutions for consumers without smartphones.
Most custom codes are initiated by the seller. Is this the same case with your offer?
Payments can be initiated by the customer or the merchant. Merchants without a smartphone can be provided with a unique QR code to post at the point of sale.
Do people with VISA cards also qualify to use the solution even where they don’t have a mobile money account?
Customers with VISA cards can use the solution if the issuing bank has integrated Youtap Pay.
In Kenya, MPESA users have always followed several few steps to pay bills. Will Youtap’s QR codes make the process simpler?
Youtap’s QR code solution provides a better user experience than USSD technology or SMS. With Youtap’s apps, customers simply scan a code to pay a bill. Mobile money agents can use our QR code solution to handle all types of transactions, including cash-in, cash-out, bill payments, and airtime top-ups. The agent can serve customers faster, seamlessly, and without error.
Thank you very much for speaking to Bizrika