- Global B2B sales estimated at $7.7 trillion, while the B2C market tallies in at $2.3 trillion
- NETE’s international e-commerce platforms processed over 154 million transactions, totaling $2.8 billion, in more than 50 countries during 2017
- NETE’s value-added transactional services, marketing solutions, analytics and mobile payments provide award-winning options for businesses around the world
Net Element, Inc. (NASDAQ: NETE), a global financial services, technology and value-added solutions provider focused on electronic payment acceptance in multi-channel environments, continues to earn accolades as one of the fastest growing companies in North America on Deloitte’s 2017 Technology Fast 500™. In an exclusive interview with NetworkNewsAudio (http://ibn.fm/nFlPV), NETE CEO Oleg Firer provides insight into the company’s business model and how it’s earning its strong track record of increasing revenues.
Net Element operates as a payments-as-a-service transactional and value-added services platform for small to medium enterprises in the U.S. and selected emerging markets around the globe. The company’s point-of-sale solutions enable retail and e-commerce merchants to accept cashless payments from consumers, who are increasingly using their purchasing power from the comfort of mobile devices. A recent Google report notes that mobile usage is intensifying, and B2B researchers are using their mobile devices in the purchasing process (http://ibn.fm/r6WeC).
During 2017, Net Element processed over $2.8 billion in more than 154 million transactions from merchants in over 50 countries, Firer said.
“All of our products have value-added service offerings,” Firer told listeners. “We have one goal, to streamline payments at the point of sales and increase revenues for merchants internationally.”
2017 was a watershed year for e-commerce as online buying attracted more consumers, proving to businesses that accelerating a move to digital platforms is the path forward, as detailed in a recent Forbes article (http://ibn.fm/AuFNc). In fact, B2B e-commerce in the U.S. is projected to reach $1.2 trillion and account for more than 13 percent of all B2B sales by 2021, with a compound annual growth rate of 7.4 percent, according to a report by Forrester (http://ibn.fm/bLg9s). According to Statista’s 2017 B2B Ecommerce report, “B2B business is now dwarfing that of the B2C business,” with global B2B sales estimated at $7.7 trillion, compared to $2.3 trillion in B2C sales.
As a technology-driven group specializing in mobile payments and value-added transactional services, Net Element offers several solutions for merchants seeking their share of the e-commerce market. The company’s Netevia platform streamlines B2B payments by improving vendor payment processes and reducing the costs to send payments through a user-friendly web and mobile platform interface.
“We are excited to enable this functionality on our Netevia platform and make Netevia a market platform where small and medium-sized businesses can find comprehensive and innovative card payments-oriented solutions to enhance their operations,” Vlad Sadovskiy, president of integrated payments for Net Element, said in a news release (http://ibn.fm/vg8KT). “Enabling vendor payments is one more step towards achieving this goal,”
For more information, visit the company’s website at www.NetElement.com
