- Independent research firm JGR Capital predicts more growth for Net Element in North American and emerging markets
- Research note also highlights company’s focus on the development of blockchain-based technology
- Via Unified Payments subsidiary, vendors at any event will be able to use mobile point-of-sale tools and self-order kiosks to accept multi-channel payments
Global financial technology and value-added solutions group Net Element, Inc. (NASDAQ: NETE) is set for sustained organic growth through its North American transaction solutions segment. Following the release of its first quarter 2018 financial results, which included a 17.8 percent year-over-year revenue increase, independent equity research firm JGR Capital issued an updated research note on May 21 (http://cnw.fm/WH1ef). The note mentioned Net Element’s Q1 2018 financial results, which indicated total revenue of $15.98 million, compared to $13.6 million in Q1 2017. It also remarked on how the same first quarter financials show that Net Element managed to cut its selling, general and administrative expenses by over $380,000.
Additionally, the research note made mention of the company’s expansion into international markets, with JGR Capital’s analysts expecting the Russian market to add to Net Element’s international revenues this year. The report attributed Net Element’s strong growth in North America to the success of its Aptito system, a payment service developed for the restaurant sector. Aptito’s cloud-based payment solution allows restaurants to integrate a point of sale solution with digital menus, self-order kiosks and kitchen displays.
Another major point noted by JGR Capital was the company’s focus on the development of blockchain-based technology with the launch of its proprietary Netevia platform, which offers same-day funding to eligible merchants, easy merchant account set up and integration, payment conversion optimization, competitive pricing for payment acceptance services and other advantages and features.
The JGR Capital update came two days before Net Element announced the launch of a payment solution tailor-made for the needs of the multibillion-dollar events industry (http://cnw.fm/sYyN). Via subsidiary Unified Payments, events industry vendors will be able to use mobile point-of-sale systems and self-order kiosks, as well as benefit from chargeback protection and acceptance of multi-channel payments. Unified Payments’ solutions will be fully integrated with vendors’ existing payment systems, allowing seamless transactions
In a news release, Vlad Sadovskiy, Net Element’s president of integrated payments, said, “We are excited to provide the event management industry with fully integrated, feature rich payment acceptance solutions. Our capabilities have the potential to dramatically change the way event transactions are processed today.”
Vendors will have access to programs such as ‘Fast Pass Funding’, which allows same-day funding; ‘Complimentary Equipment Placement Program’, which offers access to free payments equipment rental and on-site tech support; and ‘Zero Pay’, a cash discount program which will allow vendors to pocket 100 percent of their sales revenue.
The move will allow Net Element to tap into a highly prolific market, which generates more than $330 billion in direct spending and over $845 billion in business sales each year while supporting 5.9 million jobs across the United States (http://cnw.fm/flB23).
For more information, visit the company’s website at www.NetElement.com
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