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Net Element, Inc. (NETE) Subsidiary’s Enviable Milestone is Just One Corporate Anchor
Generally speaking, corporate milestones are a dime a dozen. Reaching the 1 million mark – by any measure – however, is something unique. Last week, Net Element’s mobile billing and payments subsidiary OOO TOT Money did just that. Shares of Net Element spiked 13% last Thursday after announcing that TOT Money surpassed 1 million recurring mobile payment subscribers.
The company reported a 12-percent increase in January 2015 monthly processed volume, up 49% from the platform’s April 2014 launch. TOT Money also achieved double-digit, quarter-over-quarter growth in subscribers during 2014.
Ranked as a Top 3 mobile payments provider in Russia, TOT Money enables mobile phone users to use their devices to make mobile payments by debiting their mobile operator account. Services include premium SMS, WAP-click, Internet-click, in-app purchases and other direct-carrier billing integration services for secure, modern mobile transactions.
Hitting the 1-million mark demonstrates TOT Money’s ability to increase its market saturation and confirms the company as an industry leader in the growing mobile payments market in Russia. In fact, according to a market size assessment by J’son & Partners Consulting report of the Russian Market of Mobile Operators Payments, TOT Money holds a 10% share of the overall market.
Net Element has also dropped anchors in various other aspects of the global mobile payments markets. TOT Money is just one of three companies under the TOT Group umbrella, which is owned and operated by Net Element.
TOT Group companies include Unified Payments, which in 2012 was recognized by Inc. Magazine as the No. 1 Fastest Growing Private Company in America; and Aptito LLC, a next generation cloud-based point of sale payments platform.
Unified Payments recently provided the technical setup, support and credit card processing for the sale of merchandise at the January 2015 College Football Playoff National Championship event in Dallas, Texas.
The task included the set-up of a multi-location payment processing system within 68,000 square feet of combined merchandise space using 24 registers, iPad based terminals, Bluetooth scanners and receipt printers in five separate sites to enable seamless, centralized inventory controls and replenishment, fast checkout, good customer service, and the ability to accept Apple Pay. The successful event demonstrated Unified Payments abilities and provides Net Element with a gateway for similar events in the future.
Net Element’s Aptito is a cloud-based iPad point-of-sale solution designed specifically for the food and beverage industry. The platform allows staff to take orders, send them to the kitchen, process payments – all from one device – saving time, reducing payroll costs, improving customer satisfaction, and even increasing profitability.
The award-winning Aptito platform includes point-of-sale and table management, kiosk, digital menu, mobile point-of-sale, online ordering modules and integrated payment card processing. The platform’s business management software enables restaurant owners and managers to access the system from any location using any web browser and review comprehensive reports, adjust menus, pricing, set up happy hours, manage inventory, personnel, wages and tips allocation.
Together with its subsidiaries, Net Element has assumed a firm stance in the ecommerce and mobile commerce environments where it leverages global development centers and high-level business relationships in the United States, Russia and Commonwealth of Independent States to achieve continued growth.
For more information, visit www.netelement.com
