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Net Element, Inc. (NETE) Adds Dimension of Innovation to Modern Commerce
Every industry on the planet has its individual challenges and needs; there’s always room for new innovations that either enhance an existing technology or fill an unmet need. Net Element has built its business model around this concept, funneling its specific expertise toward value-added products and services that enable merchants to streamline their business and ultimately grow corporate value.
From mobile payments and cloud-based value-added services to marketing solutions and business analytics, Net Element’s offerings are facilitated by its TOT Group division, a global mobile payments and transactional processing provider comprised of a sub-group of wholly owned companies: Unified Payments, Aptito, and TOT Money.
Unified Payments offers credit and debit card-based payment processing services –including the ability to accept Apple Pay – and was recognized by Inc. Magazine as the No. 1 Fastest Growing Company in America (2012) thanks to the company’s astounding three-year growth rate of 23,646.3% between the years of 2008-2011. Today, Unified Payments annually processes $10 billion worth of transactions for 100,000 merchants.
At the heart of Unified Payments is Net Element’s proprietary Payment Browser technology, which offers merchants a flexible, cost effective, secure and reliable payment alternative. It delivers end-to-end processing from card swipe or key-entered transaction to processor authorization. Merchants, processors, software developers, value-added resellers and sales organizations benefit from the cost savings, simplicity and security this payment solution offers.
Aptito is a next-gen, cloud-based iPad point-of-sale system and business management software designed to give restaurants the tools to reduce payroll costs, improve efficiency, and increase customer satisfaction. The system includes point-of-sale and table management, kiosk, digital menu, mobile point-of-sale, online ordering modules, and integrated payment card processing. The cloud-based aspect of the technology enables restaurant owners and managers to access the system from any location using any web browser to review comprehensive reports, adjust menus, pricing, set up happy hours, and manage inventory, personnel, wages and tips allocation.
Aptito’s backend reports are combined with Unified Payments’ Insights analytics solutions to help owners and managers make educated decisions on how to improve their sales, attract customers during low occupancy hours, and monitor restaurant reputation and social media reviews. Aptito was named a silver winner in the Most Innovative Product of the Year – SMB category in Best in Biz Awards 2014.
TOT Money provides wireless carriers, content providers and merchants a broad array of mobile payment options. With this technology, customers can charge their purchases directly to their mobile bill using their telephone number – no credit card or banking information is required. TOT Money is applicable to SMS advertisements, banking, public bulletin boards and message boards, dating services, social networks, peer-to-peer transactions, affiliate programs and more.
Additional security features include verification of a user’s uniqueness for preventing fraud, automatic registration via SMS with defined code to the short number with token value (for example, 10 cents). Arranging of password recovery by means of SMS to shortcode number is also available.
Global commerce and peer-to-peer transactions are increasingly digital. Statista reports that worldwide mobile payment volume in 2012 at $163.1 billion and is expected to soar to $721.4 billion in 2017. As the mobile payments industry continues to rapidly evolve, Net Element uses its combined innovations and specific market expertise to identify and create solutions for unmet needs due to rapid proliferation and advances in the mobile payments and restaurant industries.
For more information, visit www.netelement.com
