Net Element (NASDAQ:NETE), a provider of global mobile
payment technology solutions and value-added transactional services, has
completed partnership agreements with Kcell JSC, and Beeline, a wholly owned
subsidiary of VimpelCom, Ltd (NASDAQ:VIP).
Per the agreements, Kcell and Beeline will use Net Element’s
mobile payment platform, TOT Money, to facilitate mobile payments for its
subscribers; the deals also position Net Element with strong anchors in a
rapidly growing marketplace.
Both Kcell and Beeline have leading positions in Kazakhstan,
the world’s ninth biggest country. As the largest mobile operator in the
region, Kcell has 10.76 million customers, while Beeline, ranked second, has
9.8 million customers.
Launching TOT Money in Kazakhstan expands on the recent
launch of PayOnline’s online and mobile in-app payment services in partnership
with Kazkommertsbank (“KAZKOM”), the largest private bank in Kazakhstan and one
of the largest banks in Central Asia.
“By signing Kcell and Beeline in Kazakhstan, Net Element has
solidified partnerships to provide mobile payment services for the largest
mobile operators in the region. This is an important part of Net Element’s
strategy to capitalize on Kazakhstan’s booming mobile marketplace and to
position TOT Money as a leading mobile payments provider,” Oleg Firer, CEO of
Net Element, stated in the news release.
For more information visit www.netelement.com
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