Net Element acquires transactional services portfolio from UPS

Monday 6 August 2018 09:27 CET | News

Net Element, a global technology group that supports electronic payments acceptance has acquired certain transactional services portfolio from Universal Payment Systems (UPS).

Net Element through its subsidiary Unified Payments has acquired cash flow assets for a total of USD 2.7 million, which are expected to generate well over USD 5 million in gross profits by 2022. The company and UPS have enjoyed a mutually beneficial partnership over the last five years. The newly acquired cash flow assets are expected to enhance the company’s profit margins.

Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise in the US and selected emerging markets. In the US, the company aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, our cloud-based, restaurant and retail point-of-sale solution.

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Keywords: Net Element, Universal Payment Systems, UPS, payments, mPOS, SME, mobile payments
Countries: World