Net Element (NASDAQ:NETE), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment announced the extension of its Netevia platform to include a smart solution for enabling secure vendor payments.

As quoted in the press release:

According to Statista’s 2017 B2B Ecommerce report, “B2B business is now dwarfing that of the B2C business.” Global B2B sales are estimated at $7.7 trillion, compared to $2.3 trillion in B2C sales.  Netevia’s vendor payments solution streamlines B2B payments by improving payment processes and reducing the costs to send payments through a user-friendly web and mobile platform interface.

Netevia advantages include:

• Payments are safely and electronically delivered using a secure single-use dynamic credit card number. These payments can only be processed by the designated single vendor for a specific amount, and have added controls for improved flexibility and security
• Seamlessly works with existing accounting systems, and requires no complex setup or integration
• 24/7 customer support by phone, email or live chat

“We are excited to enable this functionality on our Netevia platform and make Netevia a market platform where small and medium-sized businesses can find comprehensive and innovative card payments-oriented solutions to enhance their operations. Enabling vendor payments is one more step towards achieving this goal,” commented Vlad Sadovskiy, president of integrated payments for Net Element.

Click here for the full text release.