Bulletin
Investor Alert

July 23, 2019, 1:31 p.m. EDT

Unified Payments' Partnership with VIP Systems Gains Traction in the Hospitality Industry

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Net Element Inc. (NETE)

or Cancel Already have a watchlist? Log In

MIAMI, FL, Jul 23, 2019 (GLOBE NEWSWIRE via COMTEX) -- EQNX::TICKER_START /zigman2/quotes/204868203/composite NETE -1.13% , EQNX::TICKER_END

Partnership between Unified Payments and VIP Systems targets the multi-billion dollar travel and hospitality industry with the signing of Hyde Beach House

via NEWMEDIAWIRE -- Net Element, Inc. /zigman2/quotes/204868203/composite NETE -1.13% ("Net Element" or the "Company"), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale ("POS"), e-commerce and mobile devices, provides an update on its partnership with VIP Systems. VIP Systems is a preferred technology integrator for Marriott International, Choice Hotels International, Simon Property Group, Hotwire Communications, Morgans Hotel Group, InterContinental Hotels Group and Related Group to name a few.

The partnership with VIP Systems is gaining traction with the addition of Hyde Beach House in Hollywood, Florida as a client for Net Element's fully integrated payments ecosystem, Netevia. Hyde Beach House is a modern waterfront beach resort consisting of 342 units.

Net Element's Unified Payments offers a turn-key hospitality solution that includes everything needed for hotels to accept payments in a multi-channel environment including integration to Property Management Systems (PMS) and fully integrated smart point-of-sale devices for card present transactions as well as online and mobile solutions.

Payment processing for the travel and hospitality industry has become increasingly complex with the advance of technology and rising demand from customers in today's digital world. The growth of mobile, multi-channel and multi-currency payment acceptance is driving the need to upgrade to a fully-integrated multi-channel solution. Unified Payments is addressing this need by offering Netevia, a customer-centric seamless integrated payment solution that address this convergence.

Benefits for Travel and Hospitality Merchants:

-- Multi-channel payment acceptance

-- Guest-centric modules promote additional services and increase revenues

-- Seamless integration to most industry related software and point of sale solutions

-- B2B payment services optimize and automate vendor payments

-- Integrated for online and mobile payments with leading GDS, including Amadeus and Sabre

-- Multi-currency payments acceptance

-- Online reporting

-- Customer loyalty program

-- Same-day settlements

"We are excited to see our partnership with VIP Systems gaining traction and look forward to many more wins in the Travel and Hospitality Industry," commented Vlad Sadovskiy, president of integrated payments for Net Element.

"Since inception, VIP Systems has been committed to providing its clients with the best quality of integration services making connectivity, integration and product utility simple, easy and accurate. The partnership with Net Element is another example of our commitment to this mission," commented Edward Genin, executive vice president of VIP Systems. "This partnership brings together technology and value-added offerings that are set to streamline processes and create additional revenue for our clients at the point of sale."

/zigman2/quotes/204868203/composite
US : U.S.: Nasdaq
$ 4.38
-0.05 -1.13%
Volume: 5,694
Oct. 18, 2019 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$18.04 million
Rev. per Employee
$671,655
loading...
/zigman2/quotes/204868203/composite
US : U.S.: Nasdaq
$ 4.38
-0.05 -1.13%
Volume: 5,694
Oct. 18, 2019 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$18.04 million
Rev. per Employee
$671,655
loading...
1 2
This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.