According
to Mobile Payment Today (http://dtn.fm/A792n), mobile payments are expected to reach
$3 trillion by 2021, up 5% from 2016. Thanks to the increased use of mobile
devices, the market for mobile payments continues to expand worldwide. Although
Asia Pacific, specifically China, still dominates the market, the U.S. and U.K.
are not far behind. Digital research conducted by Euromonitor International
shows that by 2020 both countries will emerge alongside China with more people
making payments from their mobile devices. In the U.S., mobile payments are
expected to grow at the fastest rate. By 2020, mobile payments are expected to
increase by 26% from 2016.
People
are more willing than ever to make payments from their mobile devices as they
are more digitally capable. Vendor and service industries, such as clothing
stores, taxi drivers, and others, are now routinely accepting this medium of
payment because it is largely expected by consumers. Who are these consumers?
For the most part, they are millennials.
Millennials
are making a serious impact on the transition to mobile commerce. They are the
ones adopting new technologies. Not only this, millennials control 30% of gross
income, a number that will potentially grow to just under 50% by 2025 when
counting the new generation Z. With more connected consumers than ever, it is
no surprise that companies focused on mobile payments are doing their best to
become top players in the industry.
Net
Element, Inc. (NASDAQ: NETE) is a global technology-driven group with a
specific focus on mobile payments and value-added transactional services. Net
Element’s key products include a range of point of sale solutions available on
both Android and iOS mobile devices. The company’s solutions enable both
merchants and consumers to make and receive transactions efficiently and
safely. NETE also offers reports and analytics, allowing organizations to get a
better overall view of their business.
NETE
has shown strong transaction volume growth from January to July of this year
and has become payments partner for Dunkin’ Donuts in Russia. The company has
also entered into an agreement with ExLine, enabling payment acceptance for
more than 50,000 of ExLine’s customers.
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
