MIAMI, Oct. 8, 2013 (GLOBE NEWSWIRE) -- Net Element International (Nasdaq:NETE), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries, is pleased to announce the launch of "TOT Platform" - a value-added transactional services platform. Launched in partnership with PAY.ON, the world's leading operator of multi-channel payment infrastructure systems, TOT Platform will be the first offering of its kind in the region and will allow Net Element's subsidiary TOT Group to offer its client-base innovative solutions in mobile payments and transactional services.
TOT Platform is a high-performance transaction processing platform that complies with security standards and requirements applicable to the international payments market. The launch of TOT Platform will enhance TOT Group's suite of value-added, innovative technologies and services in emerging markets.
Commenting on the launch, Oleg Firer, Net Element's chief executive officer, said, "The announcement of TOT Platform further demonstrates Net Element's commitment to creating innovative and practical solutions for emerging markets that function as fully integrated operations and marketing tools for TOT Group's clients and partners." Konstantin Zaripov, CEO of TOT Group Russia, added, "We are the first company in the region to offer this level of compatibility and capability -- and an entire suite of solutions are in development in the mobile payments and transactional services sector.""We are delighted to be furthering our partnership with TOT Group and specifically the TOT Platform suite of products," said Markus Rinderer, CEO of PAY.ON AG. "PAY.ON's multichannel payment infrastructure will provide TOT Group with the scalable platform to further develop and introduce innovative, value-added solutions to its clients." While Russia is the first region to be activated, this same solution will be deployed throughout the worldwide emerging market regions that are supported by PAY.ON's infrastructure. PAY.ON's systems will be combined with TOT Group's industry-specific set of solutions including Aptito – Net Element's, next generation, cloud-based point-of-sale payments solution.