- Retail e-commerce sales expected to reach $4.88 trillion by 2021
- Net Element enables expanding scope of face-to-face and e-commerce transactions
- Company building additional transaction capabilities through blockchain project
In a world with rapidly expanding opportunities for commerce at a truly worldwide scale, one of the greatest challenges businesses face is staying abreast of the technologies that keep people linked together across the globe. Net Element, Inc. (NASDAQ: NETE) is in the business of making business happen, ensuring that sales transactions can take place across a wide array of potential platforms, globally or in-person right at a merchant’s store.
Not so far from the historical era of bartering for goods and services and yet light years ahead in terms of mobility, modern businesses and consumers are increasingly accustomed to moving merchandise without a ‘show-me-the-money’ mentality. Payment cards, emailed and texted statements and short-range electronic broadcasting all serve to verify in a confident and practically instantaneous manner that a resource of funds sufficient to cover a debt exists somewhere in the world and can be made available to another specified location somewhere in the world.
Through its brands, Net Element specializes in linking consumer mobile phones, banks, unbanked online distribution outlets and offline brick-and-mortar storefronts, providing value-added services and business analytics. The goal is to help companies assess their competition, evaluate their own productivity and get to know their clients’ preferences in the U.S. and emerging markets around the globe.
The company’s North America Transactions Solutions business segment recorded year-over-year revenue growth of 21 percent in 2017 with a history of 28 percent growth, driven mostly by its successes with its Unified Payments subsidiary (http://ibn.fm/ImbB8). Unified Payments’ Fast Pass Funding service gives eligible merchants access to revenues in as little as three hours during regular business days, improving turnaround time for transaction processing to same-day significance.
Entry into the Enterprise Ethereum Alliance has bolstered the company’s development of secure blockchain protocols to enhance its transaction solutions, including its new Netevia multi-channel payments platform that offers end-to-end processing through easy-to-use APIs. The company’s other subsidiaries — international small content mobile solution entity Digital Provider, cloud-based point-of-sale wireless tech platform Aptito, and processor agnostic e-commerce manager PayOnline — enhance its gravitas in the industry.
Independent equity research firm JGR Capital announced in April that it had launched its small cap data coverage of Net Element as a service to investors and shareholders (http://ibn.fm/KqhVh), providing additional attention to the company’s capabilities. In January, Net Element wrapped up a $7.55 million restricted common stock and warrant private placement with an institutional investor than brought in additional funding for its blockchain initiatives.
“The Company’s balance sheet is now the strongest in its history, allowing Net Element to support future growth opportunities,” Net Element CEO Oleg Firer stated in a news release.
Cumulative data from market analyst Statista projects that retail e-commerce sales worldwide will continue to grow at a marked pace, doubling revenues to $4.88 trillion by 2021. The analysis reports that online shopping is one of the most popular online activities worldwide, but the usage varies by region. In 2016, an estimated 19 percent of all retail sales in China occurred via internet, but, in Japan, the share was only 6.7 percent. Desktop PCs are still the most popular device for placing online shopping orders, but mobile devices, especially smartphones, are catching up, the report states (http://ibn.fm/qkYh8).
For more information, visit the company’s website at www.NetElement.com
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