- Company’s balance sheet is currently the strongest it has ever been
- Named one of the fastest-growing companies in North America on Deloitte’s 2017 Technology Fast 500™
- Total transaction dollars processed by the company during 2017 reached $2.8 billion
Looking back on 2017 and ahead to the continuation of 2018, Net Element, Inc. (NASDAQ: NETE) CEO Oleg Firer recently sent out a letter to shareholders discussing the company’s progress and developments that have occurred over the past year (http://nnw.fm/yv1HJ).
Net Element is a global technology and value-added solutions group operating a payments-as-a-service transactional and value-added services platform for small to medium enterprise in the United States and in select emerging markets. The company supports electronic payments acceptance in a multi-channel environment, including point-of-sale, e-commerce, mobile devices and the blockchain ecosystem.
On an international level, Net Element is focused on leveraging its omni-channel platform to provide flexible solutions to emerging markets that have varied banking, regulatory and demographic circumstances.
All around, 2017 was a banner year for Net Element. The company was named one of North America’s fastest-growing companies on Deloitte’s 2017 Technology Fast 500™, and Net Element was also named one of the fastest-growing technology companies of the year by South Florida Business Journal.
Throughout 2017, Net Element moved forward with its organic growth in the United States, focusing on value-added payments solutions. The company was successful in centralizing its operations and refocusing its business initiatives on a global level.
For the year, total transaction dollars processed by Net Element amounted to $2.8 billion, while total transaction dollars processed geographically in North American and international markets were, respectively, $2.35 billion and $446 million.
Also during 2017, Net Element received a $7.55 million institutional investment to further its ongoing organic growth and blockchain-centered developments. The company additionally gave free mobile point-of-sale card readers to SMB merchants in Florida that were affected by Hurricane Irma.
Net Element further forged various partnerships in 2017, partnering with companies like Elo, Payvision and Planet Payment and also launching services for V-Tell, Azimuth Airlines and iDEAL.
Various product launches were further achieved by the company during 2017, including:
- Same-day ACH payment processing solution in the U.S.
- Zero-fee processing program for SMB merchants in the U.S.
- Loyalty program for merchants
- PayOnline’s support for e-commerce in the U.S.
- Apple Pay support in Russia
- Payment acceptance module for Telegram, Viber, Facebook and VK instant messenger apps
- Expansion of payments module to include Prominent InSales
- Comprehensive point-of-sale program
- ISO incubator program for certified resellers of Unified Payments
The global payments industry continued to thrive during 2017, and Net Element looks forward to even more opportunities to develop pioneering payment solutions in the coming year and further into the future as disruptive technologies like blockchain continue to advance. Heading into 2018, Net Element is bolstered by the strongest balance sheet it has ever had, positioning the company for growth and a strong stance from which to execute on exciting opportunities.
Looking ahead, Net Element plans to add blockchain technology during 2018, which will act as a framework for a huge array of value-added services. The company will also continue its focus on executing the long-term goal of creating a single, international onboarding and transaction processing platform that spans payments ecosystems.
For more information, visit the company’s website at www.NetElement.com
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