TAS Group, a provider of card management systems and electronic payments, has signed a strategic partnership with Net Element, a technology provider of mobile payment, to develop and promote EMV chip-enabled solutions, card management systems, and mobile payment technologies in the US and other global markets.
The partnership will see TAS Group licensing its proprietary technology to Net Element as well as promote and resell Net Element payment and mobile services to existing clients and potential partners.
Under the alliance, TAS Group and Net Element will jointly promote TAS Campus, an EMV-ready prepaid system in the US, directly to educational institutions.
Also, Net Element will instantly issue EMV secure, prepaid and specialty gift cards for exclusive use by participating merchants of Net Element’s Aptito all-in-one digital POS solution in the US.
In Latin America, both the companies will launch the Unified Duex Card, an open loop physical and virtual card that enables remittance and complete account management between the US and Latin America.
The Duex Card has been designed to be EMV enabled with full functionality in life cycle management and with spending control by a single cardholder for both physical and virtually issued payment cards.
Additionally, the firms will work in partnership through local presence to deliver payment, capital and financial markets management solutions to local financial institutions and processors in select global markets such as Russia, CIS, Middle East, India and Africa.
TAS Group head of international business Andrea Bianchi said: "This relationship will accelerate the US introduction of enhanced EMV solutions and provide complementary expertise that will benefit customers in our rapidly evolving global payments markets."
"Throughout the European Union, TAS Group and its local subsidiaries will jointly market and sell Net Element payment and mobile technologies integrated into TAS solutions to customers eager for such advanced payment solutions."
Net Element CEO Oleg Firer said: "The TAS platform opens new and exciting possibilities that will make payment acceptance systems more user-friendly. On college campuses for example, students can be issued a multipurpose card that does it all: payments, identification, RFID and controlled access — with additional capabilities for mobile wallet and wearable devices."