PayOnline, a subsidiary of global mobile payment technology solutions Net Element, Inc. (NASDAQ: NETE), has sealed a transaction processing agreement with Russian Federation licensed commercial bank OOO Bank Round, according to a recent Net Element press release (http://nnw.fm/Ev4bC). The agreement will include bankcard transactions settlement, draft capture, and transaction clearing services in the Russian Federation.
As an Internet payment service provider with high-tech payment solutions and multi-channel support of clients and payers worldwide, PayOnline has established a leading position in the Russian market, appreciated for its high level of security, modern technology, and individual approach to each and every customer, Round Bank director of Business Development Yegor Davydov explained. “We are pleased to have signed a partnership agreement with PayOnline … We are confident that our relationship with PayOnline will be fruitful and mutually beneficial,” he said.
In turn, PayOnline CEO Marat Abasaliev said his company is excited to partner with the Russian bank as it continues its efforts to develop and invest in innovative products that can make a difference on the markets it serves.
Moscow-based online retailer of Korean cosmetics LoveKorea.Ru, an existing PayOnline customer, is already processing its transactions via Round Bank, with the website founder George Eksuzyana voicing appreciation for the Russian bank’s reliability and service. “Reliability in payments acceptance for e-commerce is one of the main objectives when choosing a financial institution. The dependability and stability of the bank’s technology partners are the most important factors in business development,” Eksuzyana said.
PayOnline is just one of the several companies on Net Element’s roster aimed at offering comprehensive mobile payment solutions, marketing services, business analytics, and value-added services developed to increase clients’ productivity and revenue. With a broad range of global partnerships designed to meet the needs of its diverse client base, Net Element is strategically positioned to support growth in both emerging countries and the U.S. Globally, its main strategy is to use its omni-channel platform to offer flexible solutions to emerging markets such as Azerbaijan, Kazakhstan, Kyrgyzstan and UAE, markets with varying demographic, regulatory and banking conditions.
For more information, visit the company’s website at www.netelement.com
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