Netevia HQ Empowers Small and Regional Banks to Provide Merchant Acquiring and Innovative Payment Services to Attract Fintech Startups
Net Element, Inc., 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, announces the launch of its merchant acquiring enablement services for small and regional banks in the US.
Financial technology startups are capitalizing on consumers’ increased appetite for digital banking solutions. Global financing for the fintech industry hit a new record high in 2018, doubling the investments made in 2017 with over $40 billion invested in 1,700 deals according to a report from CB Insights. Small and regional banks are actively looking to attract fintech startups to increase deposits, loans and fees.
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Merchant acquiring services stand out as one of the main customer acquisition tools small and regional banks need to provide to win fintech startups’ business. Net Element provides fast-track merchant acquiring enablement services to these banks through its proprietary Netevia HQ platform, empowering them to become merchant acquirers within 90 days.
The Company’s Netevia HQ is a robust back office solution with a variety of reporting and marketing tools that enables implementation of the latest technology in payment mechanisms and point-of-sale devices. Netevia HQ allows banks to run an entire back office with multiple processing platforms and products, all completely integrated. Some of the features include:
- Complete business branding solution to assist banks develop their brand identity
- Management of ISOs with an unlimited number of Sub-ISOs and Agents
- Built-in support system
- Quick access to documents and forms for agents
- Equipment management and deployment
- Straightforward paperless merchant boarding flow
- Merchant processing statements
- Automated underwriting and risks management systems
- Boarding, management and reporting API
- Value Added Services Management
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“Small and regional banks understand that the ability to service fintech companies should include acquiring services as a must have offering. The latest consolidation of largest acquiring and issuing platforms in the US market is an indication of this growing trend and current demands in the marketplace. We aim to become a viable option to those banks and institutions that understand this demand and provide them an alternative and ability to differentiate themselves from the competition in this market,” commented Vlad Sadovskiy, President of integrated payments for Net Element.
