- Strong financial results reported for Q2 2018, with $32.45 million in revenue, up nine percent over same quarter of previous year
- Net Element subsidiary Unified Payments and Payment Club, Inc. raise $7 million to expand subscription-based payment processing service
- Company delivers flexible offerings to emerging global markets with diverse banking, regulatory and demographic conditions
- Ranked as one of North America’s fastest growing companies on Deloitte’s 2017 Technology Fast 500
Net Element, Inc. (NASDAQ: NETE), a global technology-driven group that specializes in mobile payments and value-added transactional services, continues to add flexible, convenient options to its array of electronic payment solutions. The company’s growth in revenue supports its strategic approach in providing yet another avenue for small and mid-sized businesses to accept cashless payments. News that Net Element subsidiary Unified Payments is launching a subscription-based payment processing service through a partnership with Payment Club, Inc. is a value-added case in point, with $7 million raised to finance related expansion plans (http://nnw.fm/eLiP8).
“Utilizing a transparent subscription-based pricing model combined with the latest technology solutions, Payment Club can provide positive options to frustrated merchants and streamline their payment processes,” Anthony Kutscher, president and co-founder of Payment Club, stated in a news release.
For business owners who are often stymied by rising or hidden costs, this subscription-based cashless payment operating model makes sense in more ways than one by providing access, efficiency and a cost effective service through a subscription-based economy, as detailed in a recent Forbes article (http://nnw.fm/O20ui). Businesses of all stripes are entering a phase where, through subscriptions, cost-effective access to virtually unlimited resources is the new reality, the article asserts. In other words, “businesses don’t have to own the resources they need to enable their business, but rather can pay for efficient access to only the resources they need when they need them.”
Unified Payments’ newly created subscription-based billing engine allows Payment Club and many Independent Software Vendors (ISVs), Value Added Resellers (VARS) and Independent Sales Organizations (ISOs) to bill and manage any payment services and software licenses in a convenient and transparent way, according to an earlier news release (http://nnw.fm/3Tn8K). The turn-key solution includes everything needed for businesses to accept payments in a multi-channel environment, including smart point-of-sale devices for card present transactions and fully integrated point-of-sale systems, as well as online and mobile solutions developed exclusively for Payment Club by Net Element.
“Small businesses often complain about the fees they pay for accepting cashless transactions and the burden it places on their business,” Vlad Sadovskiy, president of integrated payments for Net Element, explained in a news release. “At Unified Payments, we make it fast, easy and affordable to accept cashless payments using the newly introduced subscription-based processing.”
A new independent research report, now available from Fundamental Markets (accessible through registration), highlights Net Element’s progress in building revenue and expanding its roster of electronic payment services (http://nnw.fm/69iHz). In the report, Net Element’s reported revenue for the first quarter of 2018 increased by 17.85 percent, coming in at $15.98 million versus $13.56 million over the same period last year.
For more information, visit the company’s website at www.NetElement.com
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