- 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://ibn.fm/APf3n).
“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://ibn.fm/SAU6b).
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://ibn.fm/kdPMZ). 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://ibn.fm/pDgue).
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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