This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Net Element's TOT Group Expands To Ukraine

MIAMI, Oct. 30, 2013 (GLOBE NEWSWIRE) -- Net Element International (Nasdaq:NETE), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries and in the United States of America, is pleased to announce the expansion of its TOT Group subsidiary into the Ukraine region. TOT Group will offer its client-base innovative solutions in mobile payments and transactional services to clients in the Ukraine region.

TOT Group is a multinational mobile payments and transaction processing holding company that provides a vast range of flexible online and offline payment solutions. Clients include wireless carriers, content providers and merchants.  TOT Group creates and delivers innovative, end-to-end payment solutions to enable commerce around the world with focus on emerging markets.  TOT Group and its subsidiaries offer innovative technologies which allow its merchants to streamline their payments resources including processing of electronic payments at the point-of-sale ("POS"), processing mobile commerce transactions, managing merchant terminals and providing information management services.

Commenting on the launch of the new enterprise, Oleg Firer, Net Element's chief executive officer said, "The expansion into Ukraine comes at an opportunistic time. The e-commerce sector of the Ukrainian economy reached $1.6 billion in 2012, which represents a 45% increase over the previous year and an almost 300% increase from over 4 years ago. The e-commerce sector is the fastest-growing segment of the Ukrainian economy."

Konstantin Zaripov, CEO of TOT Group Russia and General Director of CIS and Emerging Markets added, "Our technological assets, combined with our intimate knowledge of the region makes this extension a logical next step in expanding the footprint of TOT Group's brands."

Earlier this month, TOT Platform was launched in Russia in partnership with PAY.ON, the world's leading operator of multi-channel payment infrastructure systems. TOT Platform is a transaction processing platform that complies with security standards and requirements applicable to the international payments market. TOT Platform is expanding into the Ukraine as well and 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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs