Global technology and value-added solutions group Net
Element (NASDAQ: NETE) recently reported its entry into a partnership with
Sputnik Bank in Russia. The arrangement aims to offer third party bank
processing to other banks throughout the country. A recent article further
discussing the company’s partnership reads, “Net Element and Sputnik are
expected to start selling a processing service to small banks, Russian
third-party vendors, credit organizations, value-added resellers and sales
organizations. The cost of processing will be brought down, and the service
will also give smaller Russian banks a chance to utilize much more current
software than the products on which they’re currently relying for in-house
processing. … Sputnik will provide the capacity for the data center needed for
the execution of the program. Financial instruments for settlement of
transactions will also be provided. The partnership will enable PayOnline to process
transactions as a payment facilitator. This way, PayOnline’s offering will be
expanded beyond the current electronic commerce.”
To view the full article, visit http://ibn.fm/2AHK1
About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a
payments-as-a-service transactional and value-added services platform for small
to medium enterprise (“SME”) in the U.S. and selected emerging markets. In the
U.S., it aims to grow transactional revenue by innovating SME productivity
services using blockchain technology solutions and Aptito, the company’s cloud
based, restaurant and retail point-of-sale solution. Internationally, Net
Element’s strategy is to leverage its omni-channel platform to deliver flexible
offerings to emerging markets with diverse banking, regulatory and demographic
conditions. Net Element was ranked as one of the fastest growing companies in
North America on Deloitte’s 2017 Technology Fast 500. In 2017, Net Element was
recognized by South Florida Business Journal’s as one of 2016’s fastest growing
technology companies. Further information is available at www.NetElement.com
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