- Sustainable growth in revenue mainly stemmed from the North American transaction solutions segment
- The total processing volume also grew to reach $3.3 billion, most of which was covered by North America
- Net Element subsidiaries like Aptito have been contributing to the U.S. market growth with the provision of cost-efficient, tailored and innovative niche services
Net Element Inc. (NASDAQ: NETE) recently announced solid financial growth in 2018. The company’s revenue over the year went up to $65.8 million, marking an increase of 10 percent on an annual basis. Growth through the company’s North American transaction solutions segment was the primary driver for the strong results, as the company’s management announced in an earnings conference call on April 2, 2019 (http://ibn.fm/ZfEls).
The North American transaction solutions segment experienced annual growth of 16 percent in 2018. The United States accounted for 90 percent of the overall revenue, while international revenue contributed 10 percent.
In 2018, the company’s total processing volume reached $3.3 billion – an increase of 18 percent in comparison to 2017 figures. North America accounted for $2.9 billion, marking an increase of 27 percent as compared to the previous year.
According to Net Element’s management team, the North American transaction solutions segment also showed positive trends in terms of development and acquisitions. During 2018, the company acquired recurring cash flow portfolios from sales partners that are anticipated to contribute to over $9 million in gross profit over the coming four years.
The payment industry is evolving rapidly due to new technologies and changing customer needs. These market dynamics create opportunities for companies like Net Element and its subsidiaries.
Under wholly owned subsidiary Aptito, for example, Net Element provides complete business management solutions and cloud-based POS for the restaurant industry (http://ibn.fm/EYbbH). Such innovative solutions are a good choice for both large businesses and small restaurants or startups in the industry attempting to establish market position on limited budgets.
Aptito has developed a range of payment solutions tailored to the needs of various clients in the restaurant industry. These include Aptito POS, mPOS (http://ibn.fm/hib83), kiosks and digital menus. This integrated product range is favored over competitive solutions due to cost-efficiency, ease of use, simplified inventory management, improved scheduling and payroll management and cloud-enabled functionality.
The restaurant niche is characterized by rapid growth and ever-changing trends. Currently, it generates four percent of the U.S. GDP and employs more than 15 million people (http://ibn.fm/Qu20w). Due to this rapid industry growth, restaurants have to work hard to maintain competitive advantage through cost-efficient solutions and services that enable the enhancement of client satisfaction levels.
Net Element is a global financial technology and value-added solutions group that supports electronic payment acceptance in an omni-channel environment. It operates a payment-as-a-service transactional model and value-added services platform for small and medium enterprises.
In 2018, Net Element was named one of the top 10 retail payment service companies by Retail CEO Outlook. The selection of the best service providers is made on the basis of the delivery of time-focused, effective and economic payment solutions and services.
For more information, visit the company’s website at www.NetElement.com
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE