Net Element, which is primarily
focused on mobile payments, payment processing and value-added services via
their TOT Group family of companies, is poised for serious growth with their
unique browser-based software platform for rapidly integrating secure payment
processing into existing web apps, as well as their overarching TOT Platform,
an omni-channel, market-spanning transactional platform for handling mobile
payments billing. The rise of NFC payments (near-field communications), powered
by smartphones interacting with payment terminals at stores, is having a
transformative impact on the commercial landscape and creating a new paradigm
of walletless phone-powered transactions.
Recent market analysis by WorldPay
projects credit and debit card payments will continue to decline as a
percentage of the overall payment processing market in coming years, receding
by over 16% in the next three years alone, as e-commerce and e-wallets displace
more and more of the antiquated card-based transactions. WorldPay sees
e-wallets evening out with credit and debit cards and then progressing ahead as
the dominant format through 2017, when they estimate the dollar value of global
processing using the new methods will soar to around $1.6T. Of course, a big
part of this evolution will be dependent on the emergence of specialized mobile
payment solutions keeping up with the growing market penetration of
smartphones, and this dynamic creates a huge opportunity for transaction
platform developers and service providers like NETE.
The TOT Platform allows companies
to fully outsource the payment and risk management requirements needed to
execute Payment Card Industry Data Security Standard (PCI DSS), Level
1-compliant solutions, with a dynamic hosted page featuring multiple payment methods.
With such architecture at their disposal, NETE client companies can easily roll
out new mobile payment solutions that are universally accessible with ease and
the simplicity of new merchant onboarding means the sky is the limit when it
comes to getting new, even small merchants up and running in no time flat.
Moreover, the TOT Platform has a
powerful business intelligence backend that allows for rigorous data analysis
and reporting; a business intelligence backend which simultaneously eliminates
the need for an often quite expensive customer support console, since typical
support functionality is built right into the TOT Platform’s dashboard. From
risk reduction and loss prevention, to supply chain or logistical optimization,
TOT Platform’s highly flexible toolset grants merchants real-time situational
awareness over their day-to-day operations, enabling them to execute new
efficiency strategies, or identify and capitalize on hidden opportunities, or
even those that were hiding in plain sight before the platform’s
implementation.
Monitoring transactions in
real-time, as well as keeping tabs on factors like acceptance and chargeback
rates (along with the reasons for them), gives merchants the power to recognize
potential conflicts or operational roadblocks almost immediately. The long-term
analytical might of the platform allows business owners to go even further,
rapidly drilling down into the merchant channels to find out exactly what is
happening. With risk management features like complete data validation, as well
as built-in basic, third-party and dynamic/intelligent risk checks, and even a
comprehensive credit assessment bench (including tools like 3-D Secure, Address
Verification Service and Card Verification Value), the TOT Platform can help eliminate
much of the standard risk factors encountered in the industry.
All of this sets up the platform’s
provider routing gateway for global payment processing, TOT Gateway (which
already has over 250 payment processors linked to it), quite well indeed. TOT
Gateway is adaptable too, enabling payment processing using traditional, as
well as alternative payment methods, with full support for real or even virtual
currencies. These capabilities make the TOT Gateway component of the TOT
Platform more than a mere global payment routing gateway, they make it the
biggest and one of the fastest growing global networks of such payment
providers in existence today.
For more information on Net
Element, visit: www.NETElement.com
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