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Net Element, Inc. (NASDAQ: NETE) Targets $7.7 Trillion B2B Market with Netevia Platform Vendor Payment Solution

  • Global B2B ecommerce sales at $7.7 trillion and still growing as more businesses move online
  • Netevia accepts over 100 cashless payment methods in multiple currencies
  • Netevia users can transact business with suppliers in countries around the world

Businesses are increasingly using the Internet to buy services and products from other businesses. It is now estimated that global ecommerce between businesses (B2B) now amounts to $7.7 trillion (http://ibn.fm/fv3EP), far outstripping the $2.3 trillion in sales made from businesses to consumers (B2C). Targeting this massive and growing market, Net Element, Inc. (NASDAQ: NETE) has extended its Netevia payment platform to include solutions aimed at sales between vendors, according to a company press release (http://ibn.fm/j8Up6).

Net Element, a financial service technology company that develops multi-channel electronic payment solutions, launched Netevia in February 2018 to provide value-added solutions for its users. Netevia was designed to integrate seamlessly with businesses’ existing payment platforms.

Businesses that use Netevia can accept over 100 cashless payment methods in several currencies – a crucial must for companies that wish to operate on an international scale. As of July 2018, Netevia can process cashless payments in 21 currencies. Netevia enables merchants to streamline their processes, including marketing tools, payment mechanisms and point-of-sale devices.

Research shows that 42 percent of B2B customers use a mobile device at some point during their purchasing process (http://ibn.fm/y0o7E). Taking this trend into account, the Netevia platform is developed for use on mobile devices as well as through a web-based portal. It will allow users to manage their vendors, process payments and deal with invoices from anywhere.

In a news release, Vlad Sadovskiy, Net Element’s president of integrated payments, said, “We are excited to enable this functionality on our Netevia platform and make Netevia a market platform where small and medium-sized businesses can find comprehensive and innovative card payments-oriented solutions to enhance their operations. Enabling vendor payments is one more step towards achieving this goal.”

Netevia is poised to enable its users to adapt their businesses to the steady growth of the ecommerce sector. The platform has been designed to be extendable, allowing users to add features as their business needs evolve.

With security a key concern for all online operators, Netevia’s designers have included robust fraud prevention and security features into the platform. In addition, since international business never sleeps, technical support for the platform is available round the clock by phone, email or web chat.

Netevia is just one of a suite of innovative mobile payment solutions that Net Elements has developed. Others include Aptito, a payment solution tailor-made for the restaurant industry, and Unified Payments, a simple and flexible mobile point-of-sale system that can be used by a variety of vendors, including kiosk-type shops, limousine drivers, tow truck and delivery drivers, pool maintenance workers and roadside assistance mechanics.

For more information, visit the company’s website at www.NetElement.com

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