Mobile payments company Net Element has partnered with the Russia's Airbnb-like short-term accommodation company Sutochno.ru.
As part of the partnership, Sutochno.ru will use Net Element's payment acceptance platform, PayOnline, which provides "a complete solution" including "pre-authorization, escrowing and payment processing via all types of cards," Yuri Kuznetsov, founder of Sutochno.ru, said in a Jan. 12 news release.
Unlike Airbnb, the Russian accommodation company charges hosts a commission and an optional fee to prioritize their properties in the listings viewed by renters, it says. Airbnb takes commissions from guests.
Sutochno.ru claims it has more than 70,000 property listings and 700,000 guests registered on its site.
"PayOnline has invested heavily in product development, and it is rewarding to see how merchants can utilize the capabilities of our platform to meet their business needs and provide an excellent experience to the end consumer," Marat Abasaliev, CEO of PayOnline, said in the release.
Net Element operated in the U.S. and select emerging markets. It has also recently launched initiatives UAE, Kazakhstan, Kyrgyzstan and Azerbaijan.
