- Sustainable
growth in revenue mainly stemmed from the North American transaction
solutions segment
- The
total processing volume also grew to reach $3.3 billion, most of which was
covered by North America
- Net
Element subsidiaries like Aptito have been contributing to the U.S. market
growth with the provision of cost-efficient, tailored and innovative niche
services
Net Element Inc. (NASDAQ: NETE) recently announced
solid financial growth in 2018. The company’s revenue over the year went up to
$65.8 million, marking an increase of 10 percent on an annual basis. Growth
through the company’s North American transaction solutions segment was the
primary driver for the strong results, as the company’s management announced in
an earnings conference call on April 2, 2019 (http://ibn.fm/ZfEls).
The North American transaction solutions segment experienced
annual growth of 16 percent in 2018. The United States accounted for 90 percent
of the overall revenue, while international revenue contributed 10 percent.
In 2018, the company’s total processing volume reached $3.3
billion – an increase of 18 percent in comparison to 2017 figures. North
America accounted for $2.9 billion, marking an increase of 27 percent as
compared to the previous year.
According to Net Element’s management team, the North
American transaction solutions segment also showed positive trends in terms of
development and acquisitions. During 2018, the company acquired recurring cash
flow portfolios from sales partners that are anticipated to contribute to over
$9 million in gross profit over the coming four years.
The payment industry is evolving rapidly due to new
technologies and changing customer needs. These market dynamics create
opportunities for companies like Net Element and its subsidiaries.
Under wholly owned subsidiary Aptito, for example, Net
Element provides complete business management solutions and cloud-based POS for
the restaurant industry (http://ibn.fm/EYbbH).
Such innovative solutions are a good choice for both large businesses and small
restaurants or startups in the industry attempting to establish market position
on limited budgets.
Aptito has developed a range of payment solutions tailored
to the needs of various clients in the restaurant industry. These include
Aptito POS, mPOS (http://ibn.fm/hib83),
kiosks and digital menus. This integrated product range is favored over
competitive solutions due to cost-efficiency, ease of use, simplified inventory
management, improved scheduling and payroll management and cloud-enabled
functionality.
The restaurant niche is characterized by rapid growth and
ever-changing trends. Currently, it generates four percent of the U.S. GDP and
employs more than 15 million people (http://ibn.fm/Qu20w). Due to this rapid industry growth,
restaurants have to work hard to maintain competitive advantage through
cost-efficient solutions and services that enable the enhancement of client
satisfaction levels.
Net Element is a global financial technology and value-added
solutions group that supports electronic payment acceptance in an omni-channel
environment. It operates a payment-as-a-service transactional model and
value-added services platform for small and medium enterprises.
In 2018, Net Element was named one of the top 10 retail
payment service companies by Retail CEO Outlook. The selection of
the best service providers is made on the basis of the delivery of
time-focused, effective and economic payment solutions and services.
For more information, visit the company’s website at www.NetElement.com
NOTE TO INVESTORS: The latest news and updates
relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE
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