QualityStocksNewsBreaks – 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…