NetworkNewsBreaks – Net Element, Inc. (NASDAQ: N

NetworkNewsBreaks – Net Element, Inc. (NASDAQ: NETE) Subsidiary Enters Partnership to Launch VIP Payments Targeting the Hospitality Industry

Net Element (NASDAQ: NETE), a global technology and value-added solutions group, announced a partnership between the company’s subsidiary Unified Payments and VIP Systems to launch VIP Payments, a seamless payment processing offering targeting the growing travel and hospitality industry. VIP Systems is an advanced technology integrator in the hospitality industry that is the preferred choice of Marriott International, Choice Hotels International, Simon Property Group and Hotwire Communications among many others. Unified Payments’ turn-key hospitality solution comprises of the necessities for businesses to accept payments in a multi-channel environment, including online and mobile solutions as well as the integration to Property Management Systems (“PMS”) and fully integrated smart point-of-sale (“POS”) devices. In addition to multi-channel payment acceptance and seamless integration to most industry related software and POS solutions, benefits of VIP Payments will also include multi-currency payments acceptance, online reporting and same-day settlements, to name a few. “We are excited to partner with VIP Systems to launch seamless payments acceptance for the travel and hospitality industry,” Vlad Sadovskiy, president of integrated payments for Net Element stated in the news release. “VIP Systems is a leading technology integrator with vast experience deploying complex point of sale solutions for some of the biggest brands in the travel and hospitality industry; adding payments to its offerings will create new revenues for VIP Systems and enable us to create more guest-centric value-added offerings.”

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