Youtap has introduced what it calls an inexpensive retail enablement product to help mobile network operators, banks and payment providers boost transaction revenue. The solution allows Tier 2 and Tier 3 merchants to accept NFC and QR code-based mobile money payments on the go, according to a press release.

The product relies on Youtap's NFC X8, a small, discreet point-of-sale device that can fit into a merchant's pocket or be worn around the neck. The X8 can process all mobile money transactions, including cash-in and cash-out transactions, airtime top-ups, bill payments and in-store payments, according to the announcement.

Youtap said the X8 is ideal for mobile airtime resellers, small shops, street vendors, taxi drivers and other transport operators who need a secure and convenient way to accept mobile money. 

The X8 also provides the user a transaction ledger and know-your-customer data collection.