Net Element International (Nasdaq: NETE) is buying Quickpay, a payment terminal network headquartered in Hallandale Beach, Fla.

Targeting the roughly 28 percent of U.S. households identified by the Federal Deposit Insurance Corp. as unbanked or underbanked, Quickpay provides consumers with a means of paying for goods and services with cash through terminals similar to ATMs. Users can pay home utility bills, cell phone bills and make cash transfers through the machines.

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