Impressive Growth Trajectory Continues for Net Element (NASDAQ:NETE)
(NetworkNewsWire) Exciting developments continue for Net Element, Inc. (Net Element is a global financial technology and value-added solutions group engaged in supporting electronic payments acceptance in an omni-channel environment that spans point-of-sale, e-commerce and mobile devices. The company's payments-as-a-service transactional and value-added services platform caters to small-to-medium enterprises (SME) in the United States and in selected emerging markets. Net Element was hailed as one of the fastest-growing technology companies by the South Florida Business Journal in 2016, and the company continues living up to that title.
On July 20, Net Element announced that its PayOnline subsidiary has expanded its payments module for electronic commerce and CMS to now include InSales, a popular omni-channel commerce and CMS platform for small-to-medium-sized businesses (http://nnw.fm/1nYW9). The free PayOnline module for InSales enables merchants to accept payments via the most popular bankcards, such as Visa, Visa Electron, MasterCard, Maestro and MIR. Additionally, the PayOnline module supports more than 110 key world currencies, including U.S. dollars, euros, rubles, tenge, soms and shekels. All of the PayOnline module's payment interfaces are available in English and Russian, and PayOnline has gained access to more than 4,000 new merchants in Russia and Kazakhstan with this latest addition, which means significant revenue potential for Net Element. The payment module is available on 23 of the most popular e-commerce and CMS platforms and counting.
In June, Net Element announced, through its PayOnline subsidiary, that its list of European integrations and partnerships had expanded via the addition of Payvision to the company's network of partners. This provided PayOnline with an additional channel through which to route its payments in Europe and effectively broadened the scope of capabilities for its customers, simultaneously supporting higher conversion rates and improving access to more than 120 currencies throughout the world.
Also in June came the announcement that Net Element's PayOnline subsidiary had initiated payment acceptance services for V-Tell, a premier international mobile network operator. V-Tell's intention was to use various payment methods offered through the PayOnline platform for its website and mobile application, including recurring billing and one-click payment solutions.
Net Element's business growth was up an impressive 40 percent in the first quarter of 2017, and a Zacks Research Report released in May (http://nnw.fm/7XYPd) projected that the company's revenues will reach $75 million by 2018.
Continuing its impressive growth trajectory, Net Element is successfully demonstrating its ability to grow internationally and is poised for even greater success in the near term.
For more information, visit the company's website at www.NetElement.com
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