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Net Element to acquire Quickpay

Thursday 4 July 2013 11:13 CET | News

Russian-based global m-payments and e-commerce technology group Net Element International (NETE) has closed an agreement to acquire Quickpay, a proprietary payment terminal network. Under the terms of the deal, NETE is set to operate Quickpay via TOT Group, Net Element International’s mobile payments and transaction processing holding company.

TOT is a multinational mobile payments and transaction processing company that provides a range of online and offline payment solutions. Its clients include wireless carriers, content providers and merchants. TOT delivers payment solutions that enable merchants to accept cashless transactions at the point of sale (POS).

Quickpay targets participants in the cash-based economy worldwide, allowing buyers to pay for their goods and services via cash remittances made at terminals, similar in look and feel to ATMs, without the need for plastic cards or bank accounts. Payments can also be made on the Quickpay network via WAP, web and SMS terminals – or via XML protocols that integrate external payment systems. Those goods and services range from home utility bills to cell phone tariffs and cash transfers.


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Keywords: Net Element, QuickPay, mobile payments, direct carrier billing
Categories: Payments & Commerce
Companies:
Countries: World
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Payments & Commerce






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