- Worldwide
mobile payment market expected to grow at a CAGR of 33.8 percent from 2017
to 2023 to a market size of $4.5 trillion
- Net
Element ranked in Deloitte’s Technology Fast 500 list as one of North
America’s fastest-growing companies in 2018
- Net
revenue for Q3 2018 increased 15.7 percent to reach $17.2 million, with
overall net revenue for first nine months of 2018 reaching $49.7 million
Global technology and value-added solutions group Net
Element, Inc. (NASDAQ: NETE) is answering the call for hassle-free purchase of
goods and services as consumers and businesses seek the security and ease of
digital and cashless payments. New strategies, such as Net Element’s recent
announcement to bundle Netevia Light
Point-of-Sale (“POS”) mobile payments acceptance software in PAX A920 and A80
smart terminals developed by PAX
Technology, are seen as a robust solution to market demands, a news release
notes (http://ibn.fm/PXgRD).
“Mobile payments market is growing rapidly and we are taking
advantage of this trend by launching our proprietary software on multiple
mobile touch points including PAX Technology smart terminal platform,” Vlad
Sadovskiy, president of integrated payments for Net Element, stated in the
release. “Our robust application and PAX’s powerful hardware will enable
business owners to process payments with greater ease and more flexibility than
ever before.”
Allied Market Research reports that the mobile payments
market is anticipated to reach a market size of $4.5 trillion by 2023, growing
at a compound annual growth rate of 33.8 percent from 2017 to 2023 (http://ibn.fm/nkNaJ). The retail
segment currently holds a dominant position in the global payment market and is
expected to lead all categories by 2023, the report adds.
The combination of Netevia Light POS application and PAX Technology’s
Android-based interactive smart payment terminals offers a flexible,
state-of-the-art solution aimed at helping merchants conduct transactions in a
seamless, convenient way that also provides a user-friendly experience to the
consumer. Netevia Light
POS application on Smart Terminals by PAX Technology brings all the functions
and payment types of a classic point-of-sale terminal with the addition of:
- An
easy setup on an all-in-one platform;
- A
fully compliant cloud-based solution with real-time reporting;
- Smart
inventory management with tip adjustment, discounts and loyalty
management;
- Client
management, invoicing and on-screen signature; and
- A
complete back office solution via Netevia HQ.
Existing PAX technology clients can download the Netevia
Light POS application via the smart terminal by PAX Technology without
additional hardware, while United Payments clients have effortless access to the
Smart Terminals by PAX Technology, as well. As part of United Payments’
comprehensive offerings, merchants can take advantage of the Unified Payments
cash discount program in addition to other innovative programs that help
merchants reduce fees and expenses while increasing sales.
Net Element supports electronic payments acceptance in a
multi-channel environment, including point-of-sale, e-commerce and mobile
devices. The company operates a payments-as-a-service transactional and
value-added services platform for small to medium enterprise in the U.S. and
selected emerging markets. Internationally, Net Element’s strategy is to
leverage its omni-channel platform to deliver flexible offerings to emerging
markets with diverse banking, regulatory and demographic conditions. Net
Element was ranked as one of the fastest-growing companies in North America on
Deloitte’s 2018 Technology Fast 500 (http://ibn.fm/xsTkS) and was listed among the South Florida
Business Journal’s 2016 fastest-growing technology companies.
For more information, visit the company’s website at www.NetElement.com
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