- Revenues increased 11 percent during 2017, reaching $60.1 million on organic growth across all categories
- Point of sale market expected to reach $106 billion by 2025
- Global retail e-commerce sales to post solid gains, rising by more than 23 percent to $2.3 trillion by end of 2017 and accounting for 10 percent of total retail sales
- Net Element processed $2.8 billion in global transactions in 2017, a 14 percent increase
- Fast Pass Funding service unveiled on proprietary Netevia platform
Net Element, Inc. (NASDAQ: NETE), a global technology and value-added solutions group focused on supporting electronic payments acceptance in a multichannel environment, continues to master the art of the transaction by delivering valuable payment solutions to merchants and consumers.
E-commerce continues to show a healthy growth pattern, as consumers are increasingly dedicated to using their mobile devices to make purchases. According to a report compiled by Accenture Consulting (http://nnw.fm/4jY5q), consumer awareness of mobile payments is at an all-time high and first movers that deliver additional value to merchants and their customers will become the industry’s ‘game changers’.
Net Element’s new service, Fast Pass Funding, provided through the company’s proprietary Netevia platform (http://nnw.fm/jAfq4), is just one of the company’s innovative value-added services offered to merchants who are tired of waiting for funding to be processed. Eligible merchants receive funds in as little as three hours during regular business days, avoiding the 12 to 24 hour wait-time they normally endure. Other value-added services offered through the Netevia platform include fast, easy merchant account opening and integration, payment conversion optimization, over 150 risk-monitoring filters and highly competitive pricing for payment acceptance services.
People around the world are expected to make 726 billion transactions using digital payment technologies by 2020, according to an article published by CNBC (http://nnw.fm/Wa9uq). Based on analysis of payment trends during the years 2014 and 2015, the study – conducted by global consulting firm Capgemini – reported that debit cards accounted for the highest share of non-cash payments at 46.7 percent, while credit cards trailed behind at 19.5 percent. Non-cash transactions between 2014 and 2015 rose 11.2 percent, the highest growth of the past decade.
Net Element intends to capitalize on the mobile transaction market as it transforms to meet demands by consumers and merchants who pivot to embrace smart technology trends. The company’s key goals include continuing company growth in all key segments, driving client retention, expanding the company’s client base in particular markets, delivering value-added products to increase efficiencies and payment acceptance, continuing the development of Netevia and launching new tools to reach clients and deepen partner relations.
“We are very pleased with our 2017 progress and the strong balance sheet position as of December 31, 2017, which we believe positions the company for future growth and opportunities,” Firer said in a news release describing the company’s year in review and plans for 2018 (http://nnw.fm/oJS8A).
For more information, visit the company’s website at www.NetElement.com
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