Before the opening bell, Net Element, Inc. (NASDAQ: NETE), through subsidiary Unified Payments, announced its entry into an agreement with ReservHotel, a leading provider of travel distribution and booking solutions for hotels worldwide. Under the terms of this agreement, Unified Payments has launched payment acceptance services for the booking platform, further demonstrating Net Element’s broad capabilities as a leading payment acceptance company on the international stage. All told, the company facilitates transactions through a comprehensive range of services that include a proprietary on-boarding interface and advanced fraud protection solutions, alongside a suite of data analytics and reporting tools.
“We are excited about partnering with Net Element; not only can they provide a comprehensive solution for our hotel client’s payment needs, but they can adapt to work with different currencies and countries around the world which is critical for our independent hotels,” Luis Barberi, chief executive officer of ReservHotel, stated in this morning’s news release.
In recent years, the online travel sector has recorded tremendous growth, with global sales in the space reaching $246 billion in 2015, according to Euromonitor International. This continued performance has been driven, in large part, by global leaders such as Expedia (NASDAQ: EXPE) and Priceline Group (NASDAQ: PCLN), both of which recorded year-over-year growth in excess of 10 percent in 2015. ReservHotel is primed to benefit from this continuing industry trend, with its award-winning booking engine and ongoing promotion programs through various Expedia and Priceline brands. ReservHotel already connects an estimated 500,000 travel agencies around the world.
“We are fortunate to be partnering with ReservHotel, a premier travel booking solution provider for independent hotels worldwide,” Oleg Firer, chief executive officer of Net Element, added in this morning’s release.
News of Unified Payments’ partnership with ReservHotel continues to build on Net Element’s recent progress toward expanding its presence in the global payments market. Just last month, the company announced that its PayOnline subsidiary had launched a payment acceptance module for Telegram, a popular cloud-based mobile and desktop instant messenger application. The module, which was created for use within the high-volume insurance industry, offers a first-of-its kind payment service for insurance premiums and is currently available for customers of VTB Insurance, a leading insurance provider in Russia.
Finishing 2016 on a high note, Net Element also announced its entry into a strategic partnership with E2Exchange Ltd (E2E) last month. E2E is a scale-up-focused organization, led by Honorary President Sir Richard Branson, that supports entrepreneurs and facilitates information exchange, equity-funding transactions and recruitment among its members. Notably, members of E2E now have access to Net Element’s global multi-channel payment service, while Net Element CEO Oleg Firer will serve as a member of E2E’s advisory board moving forward.
For more information, visit www.NetElement.com
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