Net Element Partners with VIP Systems to Launch Seamless Payments for the Hospitality Industry

Fintech Investing

Net Element (NASDAQ:NETE) announced that it has entered into a partnership with VIP Systems to launch VIP Payments targeting the hospitality industry. The company said that the travel and hospitality industry is one of the largest and fastest growing industries in the world. As quoted in the press release: VIP Systems is a preferred technology …

Net Element (NASDAQ:NETE) announced that it has entered into a partnership with VIP Systems to launch VIP Payments targeting the hospitality industry.

The company said that the travel and hospitality industry is one of the largest and fastest growing industries in the world.

As quoted in the press release:

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.
According to Deloitte’s 2018 travel and hospitality industry outlook report, the industry’s total retail value is set to exceed $500 billion in 2018 with millennials set to become the biggest spenders in the coming years.
Unified Payments’ turn-key hospitality solution includes everything needed for businesses 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. VIP Payments is addressing this need by offering a customer-centric seamless integrated payment solution that will address this convergence and make it simple to transact.
VIP Payments benefits include:
Multi-channel payment acceptance
Guest-centric modules promote additional services and generate new revenue sources
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 partner with VIP Systems to launch seamless payments acceptance for the travel and hospitality industry,” commented Vlad Sadovskiy, president of integrated payments for Net Element. “VIP Systems is a leading technology integrator with vast experience deploying complex point of sale solutions for some of the biggest brands in the travel and hospitality industry; adding payments to its offerings will create new revenues for VIP Systems and enable us to create more guest-centric value-added offerings.”
“Since inception, VIP Systems has been committed to providing its clients with the best quality integration services. 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.”