Youtap is launching Youtap Cloud, a payment processing platform delivered as a cloud service for mobile money and payment providers in developing markets, according to a press release.

Youtap Cloud enables real-time transaction processing for contactless mobile money and bank wallet payments. It supports QR code payments, as well as NFC technology, including low-cost micro point-of-sale devices, companion cards and 'tap and pay' using tags or wearables.

Youtap said the product is a white-label service with minimal upfront costs, enabling the provider to focus on go-to-market initiatives and merchant acquisition, according to the release.

The company said use cases for the service include merchant payments, airtime top-up, bill payments, toll-road and transport payments, disbursements and welfare to citizens and refugees, loyalty and promotions, microfinance and international remittances.

Youtap Cloud can be integrated with devices from Verifone, Pax and Ingenico, while also supporting Android and Linux based devices from a variety of manufacturers, according to the release.