According to a survey by
Accenture, over 40 percent of U.S. consumers had used their phones to pay at a
merchant location as of August 2014. This represented a 17 percent increase
from 2012, and experts continue to forecast huge potential for the growing market
on a global scale. Net Element, Inc. (NASDAQ: NETE) is in a strong position to
capitalize on this growth, as the company’s collection of subsidiaries continue
to gain market share in a variety of electronic payment niches.
In addition to its current
offerings, Net Element recently announced a new strategic partnership to
develop and promote Europay, MasterCard and Visa (EMV) chip-enabled solutions,
card management systems, and mobile payment technologies both domestically and
internationally. This move caught the attention of industry analysts. In April,
the company was included on Accesswire’s shortlist of the Top Mobile Payment
Solutions Providers in 2015.
With the rapid expansion of the
electronic payments market, Net Element has wasted no time in securing the
financing needed to harbor future growth. Earlier this month, the company
announced two deals which could provide up to $24.5 million in capital to drive
continued gains in overall market share.
As the industry continues to
post unparalleled growth statistics, the company’s outlook appears to be
increasingly bright. A massive 87 percent of American adults either own or have
access to a mobile phone, according to a survey by the Federal Reserve, with 71
percent using smartphones. These figures helped power the mobile ecommerce
industry from $2.2 billion in revenue in 2010 to $42.8 billion in 2013,
according to Custora.
Look for Net Element to
continuing making its mark on the mobile payments industry, particularly
through its TOT Group companies. Including Unified Payments, which was
recognized by Inc. Magazine as the Fastest Growing Private Company in America
in 2012, Net Element’s subsidiaries put the company in a strong strategic
position to grow with the rapidly expanding market. Expect the company to
leverage its recently acquired funding in order to continue expanding its
service offerings in vital markets around the globe.
For more information, visit
www.netelement.com
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
