Net
Element is a Florida based technological firm specializing in the development
of mobile payment apps from the merchant end of transactions. Mobile payment
apps allow customers to use an app on their smartphone to pay directly from
their bank account to venders that accept mobile payments. This technology is
designed to make it more convenient for consumers who don’t want to carry debit
and credit cards in their wallets. It also makes it easier for businesses as
mobile payments are not currently charged the surcharges required for the use
of physical cards.
Net
Element announced in September that they struck a deal with Apple to develop
merchant end technology that would allow for Apple Pay users to make purchases
at businesses that have installed Net Element’s mobile payment system offered
through their subsidiary TOT Group. With the number of customers using Apple
Pay and other mobile payment apps to make purchases, the demand for merchants
to accept these payments continues to grow. The reality of the rise of mobile
payments coupled with Net Element’s special deal with Apple is advantageous to
Net Element’s place in the growing mobile payment industry.
Despite
the advantages that come with mobile payments, there is some resistance from
merchants regarding the new technology due to questions on resistant the
payment information is against hacking. Unlike physical cards, mobile payment
technology uses stored bank account information to make the payment process
quicker. The main safeguard against hacking is that Apple Pay is the
fingerprint system used when using an iPhone 6 or greater to make a purchase.
Despite some concerns, mobile payment technology continues to be adopted by a
rising number of merchants wanting to take advantage of a new way to sell their
products. As a premier developer of merchant end mobile payment technology, Net
Element continues to be a part of the technological boom of the 2010s.
For
more information, visit www.NetElement.com
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MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
