- Point-of-sale terminals market expected to reach $116 billion by 2025 with a CAGR of 9.9 percent
- Appointment of seasoned fintech specialists to board of directors brings valuable domestic, international finance expertise to company
- Mobile commerce projected to account for 70 percent of ecommerce sales in China and India, while at least one-third of retail sales in the U.K., Germany and the U.S. will stem from ecommerce
Global technology and value-added solutions company Net Element, Inc. (NASDAQ: NETE) has thrived on developing innovative ideas into marketable solutions that engage users in various segments of the highly competitive global ecommerce marketplace (http://ibn.fm/t2CIB). Value-added transactional innovations such as Aptito, an all-in-one iOS cloud-based restaurant management and payment acceptance solution, along with ecommerce and retail payment transaction and processing brands such as PayOnline and Unified Payments, add convenience and alternatives to cash payments for retail transactions.
A surge in demand for wireless technologies and the rise of ecommerce is expected to drive the overall global point-of-sale terminals market to a whopping $116 billion by 2025, according to Grand View Research (http://ibn.fm/pFmlA). An article in Entrepreneur notes that there are numerous advantages underpinning the transition from a society that favors plastic bankcards to a marketplace that allows consumers to pay through their mobile devices (http://ibn.fm/QnfyI). Chief among these are ease of transactions, greater security and heightened convenience. In addition, mobile payments can be a real timesaver, which makes them seriously attractive for millennials (http://ibn.fm/QyPVY).
In a news release, Jonathan Fichman, the newest member of Net Element’s board of directors (http://ibn.fm/8kXvz), said, “The company’s recently announced plans to create a blockchain payments platform and its recently released next generation cloud-based point of sale payments system will both be impactful innovations for the industry.”
Fichman, whose 20-plus years of strategic domestic and international finance expertise within Fortune 100 companies includes extensive experience in fintech, payments, blockchain, wealth management and banking, joins Jon ‘Dr. J’ Najarian, who was also recently appointed to the board. Najarian, a professional investor, money manager and media analyst, is also a CNBC personality (regularly appearing on the ‘Halftime Report’ and ‘Fast Money’ programs) (http://ibn.fm/NJm7N) and a former linebacker for the Chicago Bears.
The global ecommerce market reached $2.3 trillion in 2017, and it’s expected to soar to a ‘mind-boggling’ $4.5 trillion by 2021, according to a Statista report (http://ibn.fm/5wLTg). Another industry perspective notes that mobile commerce will account for more than 70 percent of ecommerce sales in both China and India in 2017, with mobile commerce accounting for a full third of total retail ecommerce sales in the U.K., Germany, and the U.S (http://ibn.fm/tNUP9).
Net Element’s suite of application performing interfaces (APIs) and connectors power commerce for businesses of all sizes, applying multi-channel platforms, all-in-one digital solutions and end-to-end encryption of cardholder data that utilizes tamper-resistant hardware to ensure integrity and simplify security. Net Element was ranked number 418 on Deloitte’s 2017 Technology Fast 500™ list of North America’s 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies.
For more information, visit the company’s website at www.NetElement.com
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