(NetworkNewsWire) The transactional process of paying for goods and services has changed radically over the last couple decades. Not that long ago, cash registers and tellers were the only point of sale system in existence. Tellers had to manually enter each product cost, total the sale, take the money, place it in the cash drawer, then hand the customer a paper receipt.
Net Element, Inc.
Net Element (NASDAQ: NETE) is a global technology-driven group specializing in mobile payments and value-added transactional services. The company owns and operates a global mobile payments and transactional processing provider, TOT Group, Inc. ("TOT Group"). TOT Group companies include Unified Payments, recognized by Inc. Magazine as the #1 Fastest Growing Company in America in 2012, Aptito, a next generation cloud-based point of sale payments platform, Restoactive, a seamless digital add-ons for legacy POS systems, Digital Provider, a leading provider of SMS messaging and mobile billing solutions, and Payonline, fully-integrated, processor agnostic electronic commerce platform.
(NetworkNewsWire) Net Element, Inc. (NASDAQ:NETE) is growing its sales in the quick-expanding world of cashless transaction processing, which is exhibiting its greatest gains in retail and in the emerging Asian and Latin American markets, according to the World Payments Report 2016 (http://nnw.fm/MY0tu) by Capgemini.
NetworkNewsWire Editorial Coverage: When it comes to ecommerce, integrated payment solutions provide consumers more flexibility in their shopping than ever before. The conveniences of these solutions have long been in the making (the first online payment services started in the 1990s) and today promise to be the future of payments.
(NetworkNewsWire) Net Element, Inc. (NASDAQ:NETE) is already working on both its funding needs and the performance of its Mobile Solutions Segment, as cited by SeeThruEquity's updated report of April 12, 2017 (http://nnw.fm/w1vK5). In the report, the equity research firm maintained its price target on NETE stock of $2.45 per share.
(NetworkNewsWire) Technology now allows consumers to make instant purchases, even if they don't have cash or cards on hand. Net Element (NASDAQ:NETE), a specialist in mobile payment technology, is seeing cashless transactions increase nationwide and globally.
(NetworkNewsWire) Net Element (NASDAQ:NETE) management believes that cash transactions are becoming progressively obsolete. The company is in the digital transaction business, with its North American transactions revenue growing to $42.1 million in calendar 2016, up 54% from 2015. Interestingly, for consumer transactions, where restaurants and educational services dominated in 2015, health and beauty was the fastest growing segment last year — accounting for almost 20% of that total business.
(NetworkNewsWire) Digital services have now transformed traditional markets across the world. Businesses and individuals alike expect to be able to use digital services in a variety of contexts, on multiple devices, through various channels.
(NetworkNewsWire) Using mobile devices to make purchases is becoming commonplace. An estimated $37 billion in mobile transactions occurred in 2015, and that total is expected to explode to over $800 billion by 2019. User payments with mobile devices are expected to exceed 70 percent this year. Like the mobile phones and devices themselves, mobile transactions and payments will soon be ubiquitous.
(NetworkNewsWire) Today, fewer consumers are carrying cash in their wallets. It's not for lack of having it, but more because the technology surrounding payments has evolved significantly in the past decade. There are a variety of new payment methods, some of which include mobile and contactless.
(NetworkNewsWire) Over the last decade, technology has dramatically shifted the way business is transacted. Since the advent of smartphones, the entire planet has moved rapidly toward mobile transactions and payments. Projections suggest that, in the United States alone, nearly 70 percent of smartphone users will utilize mobile payments for a broad range of business transactions by the end of 2017.