To a greater extent than ever before, consumers are looking for a higher level of convenience throughout every step of the purchase process, from item search and selection to payment and delivery. For many, “faster and sooner” seems to be the preferred choice, especially when it comes to making payments. Tech-savvy consumers, in particular, have increasingly adopted the option of paying via mobile devices, a feature made available thanks to innovations from companies like Net Element, Inc. (NETE) (NETE Profile), PayPal, Inc. (PYPL), Apple, Inc. (AAPL) and Square, Inc. (SQ), and the development of which is driving the rise of several successful omni-channel payment processing businesses.
Omni-channel payment processors accept customer payments across multiple sales channels and devices, whether via telephone, mobile, online or a point-of-sale system. Focused on applying powerful web-based tools to transform the online and offline payment experience, involved companies maintain a hyper-focus on innovation, product development and security. Providers like Net Element (NETE) consider technology, maximum security, and a unique approach the necessary ingredients for success.
When it comes to payment processing solutions, Net Element offers the complete package. One of the fastest-growing technology companies in South Florida, Net Element drives mobile payments and value-added transactions in developed markets (e.g. the United States) and emerging markets (e.g. Central and Southwestern Asia). Through a single payment processing platform, the company accepts customer payments across numerous channels and touch-points, including over the phone, on mobile devices, online and through point-of-sale terminals.
A peek into the company’s portfolio sheds light on what makes it so unique in the omni-channel space. Net Element’s products and services are bundled under its global mobile payments and transactional processing provider, TOT Group, Inc., which is the parent company to Unified Payments, recognized by Inc. Magazine as the No. 1 Fastest Growing Company in America in 2012; Aptito, a comprehensive cloud-based point-of-sale (“POS”) payments platform; Restoactive, a seamless digital add-ons for legacy POS systems; Digital Provider, a leading provider of SMS messaging and mobile billing solutions such as direct carrier billing (“DCB”); and PayOnline, a fully integrated processor agnostic electronic commerce platform.
By covering a broad set of omni-channel payment solutions in the U.S. and emerging markets and establishing a wide range of global partnerships (AmEx, Discover, Visa, MasterCard and more), Net Element is setting itself up for substantial growth both domestically and internationally, positioned as the only NASDAQ-listed play for global payment services.
While payment service providers are comprised of varying features, customers are always looking for ones with convenience and accessibility. PayPal Holdings (PYPL) is one to cater to that feature. An American technology platform company, PayPal enables mobile and digital payments anywhere and in any way on behalf of individuals and businesses around the globe. In supporting online money transfers securely and easily, the company offers an electronic alternative to traditional paper payment methods like checks and money orders. Over the past 11 months, the company has made its services even more accessible; it has created partnerships with usual suspects like Visa and MasterCard, as well as fast-growing entities like Alibaba.com, in order to expand its customers’ choices.
Stability and security in payment processing—especially for e-commerce transactions—are two other reasons customers may choose one processor over another. Here, an entity like Apple (AAPL) shines with the security advantages offered through its Apple Pay platform. More than two years after it launched in October 2014, the flagship mobile payment platform continues to make incredible strides. With Apple Pay, customers can make secure purchases in stores, in apps and, now, on the web. With just a touch, users can pay with their debit or credit cards. At no time during this process are the customer’s card details shared by Apple, so it is a safer, more private way to pay for purchases.
Square’s (SQ) approach to the growing market is to develop tools that help sellers start, run and grow their businesses. The company’s point-of-sale service lets merchants accept payments and track sales, as well as provides real-time analytics and invoicing, and financial and marketing services. You’ll find the company’s Square Magstripe Reader – a small device/app combo that allows merchants to process payments on their smartphone or tablet – in the hands of an increasing number of sellers who need to accept on-the-spot payments in a variety of locations, such as in hair salons, restaurants, bars, farmer’s markets, bazaars, coffee shops – the possibilities are endless.
To capitalize on trends in how the global consumer makes payments, leading payment processors like Net Element, PayPal, Apple and Square aren’t waiting for markets to turn. To grow shareholder and brand value, they are taking a proactive approach and attracting customers through innovative, comprehensive, secure and scalable solutions. To reach new heights, these entities will continue to innovate and invest in disruptive products that further revolutionize the transactional service market and set them apart as key differentiators in their target markets. Net Element, for example distances itself from the others by maintaining an aggressive approach to penetrating both developed and emerging markets, and has positioned itself to capitalize on global consumer payment preference trends.
For more information on Net Element (NASDAQ: NETE) visit: www.netelement.com
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