Net Element International (NASDAQ: NETE), a technology-driven group specializing in electronic commerce and mobile payment processing is pleased to announce today that their TOT Group (“TOT”) subsidiary will be expanding into the Latin American market. Teaming with several contributors including Embratel Claro subsidiaries of American Movil, Telmex (the dominant fixed-line and cellular carrier in Mexico), and others, TOT is co-sponsoring Formula 4 driver Pietro Fittipaldi to create consumer awareness and communicate the speed of their payments services. Pietro is the grandson of the legendary Formula 1 driver Emerson Fittipaldi and like his grandfather is making history as one of the youngest and most accomplished racers including his 2011 NASCAR Whelen All-American Series Limited Late Model championship at Hickory Motor Speedway.
TOT is a multinational mobile payments and transaction processing holding company which provides a 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.
“This entry into the burgeoning Latin American market has been part of Net Element’s strategic plan since day one,” said Kenges Rakishev, a major shareholder with Net Element and one of the top 10 private investors of 2012. “Gaining access via our co-sponsorship to leaders in the communications, technology, retailing, and finance enterprises offers TOT a terrific opportunity to build relationships and gain market share.”
Born in Miami, Pietro is the grandson of the legendary Emerson Fittipaldi who twice won the Formula One World Championship (1972 & 74) - holding the title of the youngest ever winner until very recently - in addition to being a double victor of the Indianapolis 500 and 1989 CART Champion. Like his grandfather, Pietro has enjoyed success from a very early age, beginning karting at the age of just seven in the USA and quickly working his way up through the ranks. In 2010 he made his stock car debut before making history the following year by becoming the first Latin American driver to be crowned the NASCAR champion in the Limited Late Model category - aged just 15. Last year he contested the entire season of the NASCAR Whelen All-American Series but is now looking forward to making his slicks and wings debut on UK soil and following in his grandfather’s footsteps on the path to F1 greatness. To date he has enjoyed a total of 27 wins and 24 poles throughout his racing career in go-karts and NASCAR. Pietro was approached by Carlos Slim to join his pilot development project. Current alumni of the project include Mexican F1 drivers Sergio Perez of McClaren and Esteban Gutierrez of Sauber.