Using mobile devices to make purchases is becoming commonplace. An estimated $37 billion in mobile transactions occurred in 2015, and that total is expected to explode to over $800 billion by 2019. User payments with mobile devices are expected to exceed 70 percent this year. Like the mobile phones and devices themselves, mobile transactions and payments will soon be ubiquitous.
First conceptualized in the 1990s, paying for transactions with mobile devices has now taken off as a convenient and beneficial option for both consumers and merchants. Consumers find it easier to ditch credit cards all together and rely solely on their phones for payments. Mobile point-of-sale transactions give merchants the ability to integrate loyalty and incentive programs into mobile payment applications, track customer trends and inventory, increase check-out speed and save money on credit card fees.
Net Element (NASDAQ: NETE) has been at the vanguard of facilitating this mobile point-of-sale boom, providing speed, security, accuracy, value-add, and the convenience of mobile transactions. Net Element owns and operates a global mobile payments and transactional processing provider, TOT Group. TOT Group companies include Aptito, Digital Provider, Restoactive, PayOnline and Unified Payments, which was named the fastest-growing private company in America in 2012 by Inc. Magazine.
Through its wholly-owned group of companies, Net Element prides itself on delivering tailored turnkey solutions that fit each merchant’s specific needs. The company’s online and offline payment capabilities allow merchants to transact business anywhere, any way, and at any time. Simultaneously, Net Element’s mobile payments and value-added transactional platforms deliver speed and convenience to mobile customers, giving them the ability to make purchases with just a few clicks on their mobile devices, and provide an alternative to cash payments.
Net Element delivers solutions for the complex web interactions triggered by each mobile point-of-sale transaction.
For more information, visit www.NetElement.com
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