Net Element’s Launches Netevia In-App Payments Software Development Kit

Net Element (NASDAQ:NETE) on Tuesday announced the launch of Netevia In-App Payments Software Development Kit (SDK) for Internet of Things (IoT) devices enabling payments across IoT devices.

As quoted in the press release:

With just a few lines of code, Netevia’s SDK for IoT, allows developers to easily and professionally build a fully PCI compliant, secure and seamless payments flow experience for their devices.

IoT creates a network of devices that interact over the internet and can be remotely monitored and/or controlled. IoT works by extending internet connectivity beyond desktops, laptops, smartphones and tablets to include a network of non-internet items, enabling communication and data exchange with devices that are embedded with smart technology such as vehicles and home appliances.

The capabilities and potential of this market are explosive. According to Bain & Company, the global IoT market will grow to $520 billion by 2021 – more than double the $235 billion spent in 2017. Bain also notes that “pent-up” demand creates considerable opportunity for technology providers who can present proofs of concepts and successful implementation.

The SDK is part of the Netevia’s feature-ready multi-channel payments platform that connects and simplifies payments through a single integration point to increase economic efficiency of all transactions made within the ecosystem. Among its capabilities is compliant cryptocurrency payment acceptance.

“The Netevia Platform simplifies payments across multiple channels through a single point of integration,” commented Andrey Krotov, Chief Technology Officer of Net Element, Inc. “According to Visa, Inc., by 2020 there will be more than 50 billion devices connected to the Internet, providing a huge opportunity for these devices to include payments experience through Netevia SDK.”

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