- Suite of events solutions cuts wait times for transactions through mobile services, quick verification
- Subsidiary PayOnline enters new market with Russian Federation offerings
- Multi-channel payments platform Netevia builds on same-day settlement in end-to-end processing
Mobile devices have become the go-anywhere remote controls that turn on — and turn off — the world around us. Net Element, Inc. (NASDAQ: NETE) is a fintech innovator that helps keep the signals open between businesses and their customers in a pay-per-play, on-demand-type marketplace that may be virtually headquartered anywhere between a business district, the highway or someone’s back yard.
Payment solutions provider Net Element has developed an expertise in linking mobile phones, brick and mortar stores, banks and unbanked web-based businesses to deliver reliable multi-channel possibilities to buyers and transaction analysis to the businesses who serve them. The company’s recent announcement that its subsidiary, Unified Payments, is launching an intelligent payment solution for the events industry (http://ibn.fm/vApjF) is an example of its efforts to provide the marketplace with future-ready options to serve vendors and the crowds to whom they cater.
Unified Payments’ suite of solutions makes it easier to eliminate lengthy wait times in line and keep service to the customer flowing “any time, any place, any payment” (http://ibn.fm/JFort) with self-order kiosks that provide charge-back protection. Value-added services provide help with quick account establishment, risk monitoring and advising for pricing models.
A report by the Events Industry Council notes that the meetings and events industry is pumping hundreds of billions of dollars into the U.S. economy, supporting 5.9 million jobs and continuing to expand, with an 18 percent increase in direct spending since 2012 (http://ibn.fm/R1MpZ).
In February, Net Element launched Netevia, a multi-channel payments platform that delivers end-to-end payment processing through easy-to-use APIs (http://ibn.fm/rAZ06). Its language-agnostic technology allows businesses to accept most payment methods in multiple currencies internationally. Same-business-day settlement and funding provides merchant security, while value-added features such as loyalty options help merchants build solutions to keep customers coming back.
Market analyst Statista projects that e-commerce retail worldwide will double its revenues to $4.88 trillion by 2021, stating in a report earlier this year that desktop PCs are still the world’s most popular device for placing shopping orders online but that mobile devices, especially smartphones, are catching up (http://ibn.fm/s3gVN).
Net Element subsidiary PayOnline began partnering with the Russian Federation’s Bank Sputnik last month to offer a comprehensive multi-channel solution to small and medium-sized businesses for their payment concerns, expanding PayOnline’s services beyond electronic commerce (http://ibn.fm/FwRHo). The company’s news release about the partnership notes that Statista Digital Markets predicts the total transaction value in the digital payments market segment in Russia will amount to $39.5 billion in 2018, up from $27.9 billion in 2016, and reach $61.8 billion by 2022 with a CAGR of 11.9 percent.
“This innovative, turnkey solution offers frictionless onboarding for merchants with integrated, value-added services,” Andrey Krotov, CTO of Net Element, stated in a news release. “With customizable payment flows, full-stack API and value-added solutions, PayOnline exceeds the unique needs of software platforms and merchants looking to enable payments in a multi-channel environment.”
For more information, visit the company’s website at www.NetElement.com
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