Youtap, a global provider of contactless mobile payments and financial services software, has launched a white-label QR code product and smartphone apps for mobile money services in Africa and Asia, according to a press release.

Youtap product enables customer-initiated or merchant-initiated QR code payments for smartphones and smart point-of-sale devices. The product conforms to the BharatQR industry standard developed by Bharat, MasterCard and Visa.

Youtap said the new product gives any merchant or small business owner with a smartphone the potential to download Youtap's Merchant App, self-register, and start accepting mobile money payments, according to the release.

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