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Net Element Completes Acquisition Of Aptito, A Next Generation Cloud-Based Point Of Sale Payments Platform

Stocks in this article: NETE

Net Element International (NASDAQ: NETE), a technology-driven group specializing in electronic commerce and mobile payment processing is pleased to announce today that they have completed the acquisition of Aptito, a next generation, cloud-based point of sale platform for restaurants -- and operate it through newly-formed Aptito, LLC, a subsidiary TOT Group (“TOT”), its mobile payments and transaction processing holding company. This acquisition brings innovative technology and a differentiating product offering to TOT.

TOT is a multinational mobile payments and transaction processing holding company which provides a unique range of flexible online and offline payment solutions. Clients include wireless carriers, content providers and merchants. TOT delivers comprehensive, end-to-end payment solutions to enable merchants to reliably accept cashless transactions at the point of sale (POS). From processing of electronic payments at the POS to processing mobile commerce transactions to managing merchant terminals and providing information management services, TOT offers innovative solutions which allow its merchants to streamline their payments resources.

Aptito is a next-generation, cloud-based payments platform, which creates an online consumer experience into offline commerce environments via tablet, mobile and all other cloud-connected devices. Aptito’s Restaurant mPOS solution provides restaurants with tools to increase sales, productivity, and customer loyalty. The solution is a tablet-based POS that combines traditional POS functionality with mobile ordering, payments, social media, intelligent offers, mobile applications, loyalty, and transactional data all in one solution with Aptito’s cloud-based payments platform at the center of it all. Restaurant staff can place orders directly from their mobile phones which instantaneously print in the kitchen.

Accepting payments at table-side enables faster service and less wait time for consumers. Aptito’s “visual” point of sale concept is designed to speed up the learning curve and increase order input productivity. Additionally, Aptito offers a mobile commerce application that allows any restaurant to deploy mobile ordering tied to the mPOS. Aptito’s Self Ordering Apple ® iPad ®-based kiosk allows operators to increase sales by providing an automated ordering system which gives customers the speed and convenience that has been lacking in many areas of food industry including Quick Service Restaurants (“QSR”).

“We are excited that this acquisition has been completed. Aptito is an ideal solution for our hospitality merchants who are anxious to increase revenue per table and grow their customer base,” said Oleg Firer, CEO of Net Element. Adding, “Restaurants world-wide are facing similar challenges to acquire new customers, maximize the spend per visit and improve customer service while reducing staff costs. This acquisition will be a strategic addition to TOT Group and one that delivers a compelling solution and a competitive edge”.

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