Now that the internet girdles the entire globe, Net Element, Inc. (NASDAQ: NETE), with its innovative range of electronic payment solutions, has made the world its oyster. The global mobile payments and transactional processing provider is based in North Miami Beach, Florida, but its customers are halfway around the world. The company recently announced that V-Tell, an international mobile operator with offices in The Netherlands and Russia, has signed up for its services. The deal will showcase Net Element’s capabilities as a global payment acceptance platform facilitating cross-border transactions through a comprehensive range of services that includes an on-boarding interface, an extensive suite of fraud protection solutions, data analytics and reporting tools.
According to the press release (http://nnw.fm/1wM3G), Net Element will begin providing payment acceptance services, through its PayOnline subsidiary, to V-Tell. PayOnline offers a fully integrated, processor-agnostic ecommerce platform that is capable of handling a variety of transaction processing tasks. Features include payment acceptance, processing, risk prevention and payment security via point-to-point encryption and tokenization. PayOnline’s proprietary software-as-a-service (SaaS) suite of solutions for electronic and mobile commerce payments is compliant at Level 1 (the highest level) of Payment Card Industry (PCI) Data Security Standards (DSS).
Being processor-agnostic means that PayOnline’s systems can be integrated with the systems of other providers. Tokenization is a security technology that substitutes sensitive private data with an identifier or “token” when that data must travel over public networks, where it may fall into the wrong hands. Conceptually, tokenization operates like a mathematical function, allowing the encrypted data to be “mapped” (linked) to the token but not the reverse.
V-Tell is the ideal customer for all these bells and whistles. The company provides roaming-free mobile services across the world, with its website listing 185 countries from Afghanistan to Zimbabwe to which V-Tell provides communication services. The press release announcing the tie-up with Net Element’s PayOnline offers a hint at the scope of V-Tell’s services, waxing eloquently, “V-Tell Subscribers can forget about multiple devices and multiple SIM cards. A single V-Tell SIM card provides V-Tell customers with the ability to have an almost unlimited number of permanently active personal phone numbers from any country on one device.”
To get that message out, V-Tell touted its wares at the St. Petersburg International Economic Forum (SPIEF) in early June. SPIEF is an annual event and this year the plenary session was hosted by NBC News Anchor Megan Kelly.
Net Element is a global fintech group specializing in mobile payments and value-added transactional services. The company owns and operates a global mobile payments and transactional processing provider, TOT Group, Inc., under which a number of brands and companies operate. These include Unified Payments, recognized by Inc. Magazine as the #1 Fastest Growing Company in America in 2012; Aptito, a next generation cloud-based point of sale payments platform; Restoactive, a seamless digital add-on for legacy POS systems; Digital Provider, a leading provider of SMS messaging and mobile billing solutions; and PayOnline, a fully-integrated, processor-agnostic ecommerce platform.
For more information, visit www.NetElement.com
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