Net Element, an electronic payments acceptance firm, has introduced merchant acquiring enablement services via Netevia HQ platform in the US.

Netevia HQ is designed to help small and regional banks provide merchant acquiring and payment services to fintechs.

CB Insights report shows that global financing in the fintech industry surged in 2018, increasing by two-fold compared to the 2017 figure with more than $40bn invested in 1,700 deals.

Small and regional banks intend to draw fintechs to grow deposits, loans and fees, said Net Element. The company added that these banks can use merchant acquiring services as a customer acquisition tool.

Netevia HQ platform includes multiple reporting and marketing tools for payments and point-of-sale.

Banks can use the platform to develop their brand identity, manage ISOs and for fast access to documents and forms.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Electronic Payments International.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Netevia HQ will also aid in equipment management and deployment, paperless merchant boarding and merchant processing.

The platform enables automated underwriting, along with risks and value-added services management.

Net Element president of integrated payments Vlad Sadovskiy said: “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 the 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.”

In January this year, the company launched a new blockchain-based multi-channel cryptocurrency payments acceptance application.