Net Element Dips on New Product Launch


Net Element International Inc (NASDAQ: NETE) faded somewhat Thursday, a day after the company reported the launch of Netevia, a payments platform enabling blockchain technology solutions.

Netevia is the company’s newest multi-channel payments platform, and provides end-to-end payment processing through user friendly APIs. This new offering complements Net Element’s capacity to perform in a multi-channel environment and will enable the company to perform in blockchain technology solutions. Additionally, Netevia will provide same business-day settlement and funding for merchants.

Said Andrey Krotov, the company’s chief technology officer, "We put together all the building blocks needed for developers and merchants to integrate payments into their everyday commerce.

"The Netevia platform delivers a blueprint and easy to use tools for global commerce and monetization, saving developers and merchants time and money with one provider and one integration across all sales channels.”

The company, with offices in North Miami Beach, operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise in the U.S. and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant and retail point-of-sale solution Aptito.

Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Net Element was named in 2016 by South Florida Business Journal as one of the fastest growing technology companies.

Shares in NETE ditched 40 cents, or 5.9%, to $6.34 nearing noon on Thursday.