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Aptito, LLC Announces Visa Ready Status For Their MPOS Solution

Net Element, Inc. (NASDAQ:NETE), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries and in the United States, is pleased to announce today that Aptito, LLC (“Aptito”), has achieved Visa Ready status for their mPOS solution. Aptito is a next generation, cloud-based point of sale payments platform, operated through TOT Group, Inc. (“TOT”) the mobile payments and transaction processing subsidiary of Net Element.

Aptito helps restaurants drive consumer engagement via tablet, mobile and all other cloud-connected devices. Aptito’s mPOS system provides hospitality merchants 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 supported by Aptito’s cloud-based payments platform. Restaurants can leverage Aptito to plug into social networks, daily deal promotions and other marketing programs while having the ability to use Aptito’s integrated mobile marketing tools to deploy their own lead generation campaigns and loyalty rewards.

The Visa Ready Partner Program is designed to provide innovators a path to ensure that devices, software and solutions used to initiate or accept Visa payments are compatible with Visa's requirements, which may vary by country. It also provides a framework for the collaboration with Visa, as well as guidance and best practices to access the power of the Visa network. Mobile point-of-sale acceptance (mPOS) providers, mobile NFC-enabled device manufacturers, as well as chip and platform providers are among the stakeholders that are already playing a critical role in enabling new ways to pay and that will benefit from the Visa Ready Partner Program.

Accepting payments tableside enables faster service and reduced wait time for consumers. Aptito’s “visual” point of sale concept is designed to speed employee training 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”).

“As a member of the Visa Ready community, Aptito has adopted all of the standards and best practices as defined by Visa for magnetic stripe, chip, and contactless payWave acceptance,” said Oleg Firer, CEO of Net Element. “We are aligned with Visa’s rigorous security requirements and are fully tested and approved for PCI compliance so that merchants can have confidence in the safety of their mPOS system.”

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