|Net Element’s (NASDAQ: NETE) Electronic Payment Solutions Set to Pay Off on the Back of Global Growth in Digital Payments Market|
- Global digital payments market predicted to reach $5.41 million in 2022
- Worldwide sales of point-of-sales devices will reach $116 billion by 2025
- Net Element develops innovative solutions for mobile, ecommerce and point-of-sale payments
Statistics portal Statista forecasts the global digital payments market to grow at a CAGR of 13.5 percent from $3.26 trillion in 2018 to more than $5.41 trillion in 2022 (http://nnw.fm/71ceY). This includes online processed payment transactions, mobile point-of-sale payments and digital consumer commercial transactions. The digital commerce segment is the largest of the three, with a total transaction value of more than $2.87 trillion in 2018. Net Element, Inc. (NASDAQ: NETE), a company focused on providing solutions and services for mobile payments and value-added digital transactions, is well positioned to capitalize on this projected growth.
Net Element develops its technology to provide solutions for global deployment in a multi-channel environment, which includes point-of-sale, ecommerce and mobile devices. Ranked by Deloitte’s Technology Fast 500™ as one of the fastest growing companies in 2017, Net Element operates through a number of subsidiaries, including:
Unified Payments – a payment acceptance platform for small- to medium-sized businesses (SMBs)
Aptito – a next generation cloud-based point-of-sale payments platform
Restoactive – providing seamless digital add-ons for legacy point-of-sale systems
Digital Provider – a provider of mobile billing solutions
PayOnline – an internet payment service provider
The company announced on May 1, 2018, that PayOnline had entered into a partnership with Bank Sputnik to offer a comprehensive multi-channel payment facilitator solution for SMBs in Russia (http://nnw.fm/GFa4E). PayOnline’s unique solution provides clients with a set of payment mechanisms not available from any other transaction processing company in the region. This partnership also presents an opportunity for PayOnline to expand its offerings beyond ecommerce.
In mid-April 2018, JGR Capital, an equity research company, announced that it had initiated coverage on Net Element (http://nnw.fm/3pktE). Its initial report highlighted Net Element’s 28 percent year-over-year growth of its transactions segment in North America, attributed largely to the success of its Unified Payments subsidiary. JGR Capital also covered Net Elements’ membership in the Enterprise Ethereum Alliance, the world’s largest open-source blockchain initiative; its recent launch of a proprietary multi-channel payments platform called Netevia; and the completion of its $7.55 million private placement for funding of the company’s ongoing blockchain initiatives.
The JGR Capital announcement came as, earlier in April 2018, Unified Payments launched a funding service through its Netevia platform, called Fast Pass Funding. This service enables qualified merchants to receive funding in as little as three hours, compared to the previous average funding times of between 12 and 24 hours during regular business days. Fast Pass Funding is also available to merchants through Aptito, Net Element’s cloud-based point-of-sale payments service.
In a recent report, Grand View Research projected that the global market for point-of-sale devices will realize a CAGR of 9.9 percent to reach $116 billion by 2025 (http://nnw.fm/0PvR3). This growth will be driven by consumers turning to mobile payment solutions instead of plastic bankcards for greater convenience and faster transactions. Net Element is focused on developing new payment solutions to extend its reach and growth in each of the market segments in which it operates.
For more information, visit the company’s website at www.NetElement.com
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