Net Element, Inc. (NASDAQ: NETE) Payments Platform Poised for Performance as Bank Card Use in Russia Rises
Russian ecommerce still 80 percent reliant on cash Net Element’s “PayOnline” payments platform to cash in on trend toward non-cash Strategic partnerships pave entry to Russian mobile and online payments market In Russia, cash on delivery is not just a way to pay for takeout; it’s how over 80 percent of online purchases are remunerated, according to Ecommerce News Europe (http://ibn.fm/KXdrv). However, that is changing fast. In 2017, “financial cards and payments performed positively in Russia”, says Euromonitor International (http://ibn.fm/vglew). Russian consumers are changing their purchasing habits, it seems, as financial literacy and cashless payment solutions, like those offered by Net Element,…