MissionIR would like to highlight
Net Element, Inc. (
NASDAQ: NETE), a technology-driven group specializing in mobile payments and value-added transactional services that add convenience to mobile phone users’ lives and everyday commerce. The company’s innovations enable consumers to conduct commerce transactions from their mobile device, while online and offline payment capabilities allow merchants to reliably transact business anywhere and anyhow.
In the company’s news,
Net Element is a payments-as-a-service technology provider with a cohesive mobile and transactional services platform serving emerging market clients around the world. The company’s wholly owned subsidiary, TOT Group, runs Unified Payments and Aptito, a next-gen, cloud-based point of sale payments platform as well as TOT Money, a prominent mobile payments service provider that is capturing a growing share of the mobile payments market in Russia.
In early 2015, Net Element entered into an advantageous partnership with TAS Group that will create opportunities for the development and promotion of Europay, MasterCard, and Visa (“EMV”) chip-enabled solutions, card management systems and mobile payment technologies for US, Latin America and select international markets.
As a strategic partner, TAS Group, which delivers software solutions for electronic money, payment systems, capital markets and enterprise resource planning systems, will license its proprietary technology to Net Element while also promoting and reselling Net Element’s payment and mobile services to existing clients and potential partners. This joint effort is international in scope and adjustable to the distinctive needs of the different regions involved in varying stages of EMV migration, as follows:
In the United States
• Net Element and TAS Group will mutually promote TAS Campus, an EMV-ready prepaid system, to educational institutions, thereby creating an effective multi-application payment solution for both faculty members and students.
• Consequently, Net Element will be able to issue EMV-secure, prepaid and specialty gift cards that can be used exclusively by merchants who use Aptito, its all-in-one, digital point of sale system.
In Latin America
• The Net Element-TAS Group partnership will create the Unified Duex Card, a physical and virtual card that allows payment processing and all-inclusive account management between the US and Latin America. The card will be EMV-enabled with full functionality in life cycle management plus spending will be controlled by a single cardholder for both physical and virtually-issued payment cards.
In Select Global Markets
• Net Element and TAS Group will work together through local presence to deliver payment, capital and financial markets management solutions to local financial institutions and processors in the Commonwealth of Independent States, Russia, Middle East, India and Africa.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
