NetworkNewsBreaks – Net Element, Inc. (NASDAQ: N
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Posted On: 10/31/2018 4:46:46 PM
NetworkNewsBreaks – Net Element, Inc. (NASDAQ: NETE) Intends to Provide Third-party Banking throughout Russia via Partnership with Sputnik Bank
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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