Online payment technology innovator Net Element Inc. (NASDAQ: NETE) has made its business the art of enabling commerce amid the digital finance revolution, and the company announced the further development of its Netevia B2B e-commerce services in a January 22 news release that highlights the launch of Netevia’s In-App Payments Software Development Kit (SDK) for hardware manufacturers and application developers building Internet of Things (IoT) connectivity (http://ccw.fm/S1XwV).
The Net Element platform’s SDK for IoT provides an avenue for developers to build a simple, professional payments flow protocol for IoT-networked devices that is fully compliant with payment card industry data standards. The SDK promotes a single integration point for the varied channels that have become such a feature of e-commerce in the mobile technology era, allowing businesses to pursue best practices efficiency in their transactions with consumer-facing tech.
Cryptocurrencies have become vital as a means of transcending the regulatory hurdles of cross-border commerce on a global scale, and the SDK for IoT includes payment acceptance for the blockchain-powered ecosystem.
“The Netevia Platform simplifies payments across multiple channels through a single point of integration,” Chief Technology Officer Andrey Krotov stated via the news release. “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.”
The company also cites research by Bain & Company predicting that the global IoT market will more than double its 2017 revenues to $520 billion by 2021 – only a couple of years away, granting Net Element a sizable pie from which to grab a piece.
Net Element specializes in software that provides payment solutions as a service for business enterprises ranging from small to medium in size. The company’s Aptito tech solution supports point of sale transactions for restaurants and retailers, while VIP Payments supports the hotel and tourism industry and Unified Mobile Payments supports businesses on the go, such as kiosk and truck vendors.
For more information, visit the company’s website at www.NetElement.com
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