Net
Element primarily generates revenues by providing a wide range of transactional
services and other payment technologies to SMEs, like the company’s portfolio
of merchant vendor clients, where wholly-owned subsidiary TOT Group’s payment
processing division, TOT Payments, makes dependable, fast and secure card
authorizations easy and affordable. Furthermore, the company’s value-added
transactional services allow their merchant vendor clients to accept a variety
of other payments in addition to cards, like checks, gift cards and loyalty
reward program units in card-present swipe transactions, as well as
card-not-present transactions, such as mobile, internet, and phone-based. TOT
Payments’ enabling of cashless POS (point of sale) transactions and their
innovations in the realm of ecommerce and mobile, help the company’s clients
aggressively simplify and streamline their payment processing architectures
while staying modern and adapting to changing consumer trends, which ultimately
results in improved user experience, customer retention, and profitability.
One
of the key factors that separates the company from the competition in this
space is their wealth of experience in providing customized solutions to
specific industries and markets. For instance, in the world of direct marketing
the need to submit additional data along with every transaction, and thereby
also qualify for the best discount rates possible, creates a unique set of
challenges. This particular market is one of the reasons NETE CEO and Director,
Oleg Firer, who was born in Ukraine and whose family fled the Soviet Union for
America when he was 12, founded subsidiary Unified Payments (acquired by TOT
Group in 21013) back in 2007, which was ranked number one on Inc. Magazine’s
top 500 list of fastest-growing companies for 2012.
Firer
has been in the payments business since 2002, having done a great deal of
transactions on the M&A side in both the payments and technology areas and
he is the driving visionary behind NETE’s growing umbrella of services, which
are marketed through independent sales groups, external sales organizations and
other third-party resellers, as well as through a diverse array of in-house
marketing efforts. The company also leverages key partnerships that help bring
their products and services directly to the SME market, as well as partnering
with banks like BMO Harris Bank, N.A. for critical Visa and MasterCard card
association membership, which allows the company to settle relevant
transactions with merchants. Unified Payments also offers a full range of POS
solutions for the standard retail markets, whether they are small single shop
locations or nationwide chains, and they specialize in providing customized
services and products for the healthcare, hospitality, quick service,
pay-at-the-pump, and supermarket sectors.
By
providing vital account set-up, application processing, chargeback, equipment
deployment, fraud detection, merchant assistance/support, risk management and
underwriting services to its customers, NETE acts as a one-stop-shop when it
comes to payment services. The company’s mobile payments operation and
relationships with mobile operators also allows for carrier-integrated
solutions and considerably vast geographical coverage, giving Net Element the
ability to fully exploit their mobile know-how and continually innovate in the
mobile payments and messaging arena, delivering best-in-class options like
In-App and premium SMS (short message service), as well as online and carrier
billing services.
TOT
Group division, TOT Money, is actually one of the top SMS messaging and mobile
billing solution providers in the game today and also offers options like
direct operator billing, wireless application protocol (WAP), and automated
phone billing services to its clients. The company leverages their
comprehensive TOT Platform to deliver a wide variety of highly efficient
payment processing procedures, allowing clients to fully outsource their
payment and risk management. The company’s having fully embraced emerging
mcommerce frontlines, like mPOS (mobile point of sale) and other contactless
near-field communication (NFC) enabled methodologies, including having
developed an app for Apple and Android smartphones and tablets (with the option
for an associated secure card reader), through TOT Mobile, has further led to
the NETE obtaining a leading position in the ever-changing payments industry.
This
tech-driven payments and value-added transactional services specialist group
does most of their business inside the U.S., but also has a growing presence in
the Russian Federation and Commonwealth of Independent States markets through
their TOT Group Russia and Net Element Russia operations.
To
learn more about the company, visit www.NetElement.com
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MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
