- Net Element mobile payment solutions and services unite the retailer, consumer and market with advanced technology
- The company is keeping up with financial technology (FinTech) trends that are disrupting retail banking in a booming market, with U.S. e-commerce sales projected to surpass $360.3 billion in 2021
- Net Element solutions enable mobile payment options, chat-bots, and expansions to now include cryptocurrency payments
Today’s companies implement smart financial technology (FinTech) solutions in order to keep up with the market and deliver to the next-generation consumer. Net Element, Inc. (NASDAQ: NETE) is an innovative provider of current and comprehensive mobile payment solutions and services, uniting the retailer, consumer and market with advanced technology.
According to an article by The Financial Brand, several FinTech trends are disrupting retail banking (http://dtn.fm/FsFp6) and are must-haves for millennials and today’s consumers. Top favored capabilities required to meet the needs of the current marketplace include payment with mobile devices, bot or messenger-based payments and incorporation of digital currency options. Net Element is delivering these and more.
The company’s PayOnline subsidiary provides a fully-integrated, processor-agnostic electronic and mobile commerce platform. The payment platform simplifies transactions, enables payment security and supports more than 100 payment methods and currencies, as well as credit cards. The PayOnline proprietary software-as-a-service (“SaaS”) is compliant at Level 1 of Payment Card Industry Data Security Standards and is certified with most U.S. and global payment processors.
PayOnline also addresses the customer-centric element of online e-commerce, which is particularly important to new-generation customers in an era of increased efficiency, increased automation and social media. The company brings value-added services by connecting merchants and consumers and enabling interaction via chat-bots with four popular instant messaging apps. This technology is central to the future of retail banking and adds valuable elements to each payment transaction, such as bot-automated updates to the customer regarding payments, adjustments and refunds. These types of services keep the consumer engaged and informed in real-time, at each transaction.
In addition, the company has partnered with Bunker Capital for the launch of a blockchain-based business unit. The new unit will provide a framework to develop and deploy blockchain technology solutions that will connect merchants and consumers, as well as increase efficiencies and expand payment options to allow cryptocurrencies. While still in its infancy, the cryptocurrency market is expected to grow from $541 million in 2017 to $2.9 billion by 2023, which would represent a compound annual growth rate of 32.31 percent (http://dtn.fm/b6SET).
Net Element’s vast solutions for e-commerce for the U.S. and select emerging markets include mobile transaction technologies, online payment tools, restaurant, retail and mobile point of sale solutions, analytical tools, and sales partner solutions. These solutions position the company for growth as FinTech disrupts the booming market, with U.S. e-commerce sales projected to surpass $360.3 billion in 2021 (http://dtn.fm/cKT7f).
For more information, visit the company’s website at www.NetElement.com
