Excel Business Solutions, TOT Group in strategic payment processing deal

Monday 11 November 2013 09:32 CET | News

Net Element International (NETE), a provider of technology in mobile payments and value-added transactional services in emerging countries, has unveiled that its mobile payments and transactions processing subsidiary TOT Group has entered into a strategic payment processing relationship with merchant processing and other financial services provider Excel Business Solutions, a subsidiary of Excel Corporation.

Under the terms of this agreement, Excel is set to bring their expertise in forging merchant relationships while TOT Group is set to provide Excel with a minimum of USD 450,000 over the next five months to deploy a line of payment products including mobile payments technology, proprietary brands and marketing channels.

Net Element International is a global technology-driven group specializing in mobile payments and value-added transactional services. The company owns and operates TOT Group. TOT Group companies include Unified Payments, a provider of transaction processing services and payment-enabling technologies, and Aptito, a cloud-based point of sale platform for restaurants. The company has US headquarters in Miami and international headquarters in Moscow.

Excel Corporation is a provider of merchant processing services for the small to medium size businesses through its subsidiary Excel Business Solutions. The company partners with Independent Sales Organizations (ISOs). Excel works with merchants to access electronic payment processing services, which include credit and debit card processing, cheque approval and processing equipment and software services to merchants who accept credit cards, debit cards, cheques and other non-cash forms of payment.

In recent news, Net Element International has unveiled the expansion of its TOT Group subsidiary into the Ukraine region.

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Keywords: Excel Business Solutions, TOT Group, Net Element International, Excel Corporation, mobile payments, SMBs
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce