Exciting Potential for Growth Fuels Net Element (NASDAQ: NETE) as E-commerce and Consumers Converge

  • 2017 second quarter net revenues up 18 percent to $16.1 million
  • PayOnline, a flexible e-commerce payment solutions platform, launches in U.S.
  • Net Element is strategically poised for growth in the U.S. and emerging countries

Mobile-based purchasing by the world’s consumers is booming thanks to smartphones and other portable devices. Net Element (NASDAQ: NETE) is tapping into that expanding e-commerce world with its focus on small- to medium-sized businesses in the United States and select emerging markets.

Florida-based Net Element is a global financial technology company delivering a wide range of value-added solutions that support electronic payments in an omni-channel environment that spans point-of-sale, e-commerce, and mobile devices.

Its PayOnline subsidiary, launched July 2017 in the United States, supports more than 100 payment methods in as many currencies, in addition to credit card acceptance, and it is certified with most payment processors in the United States and globally.

PayOnline’s Instant Payment Module utilizes chat-bots with four popular instant messaging apps to help retailers interact with consumers, which Net Element believes represents a global opportunity for the company.

This major consumer habit of buying online, fueled by millennials, bodes well for Net Element and its long-term growth opportunities as e-commerce markets expand.

An online retail forecast from Forrester, cited by Digital Commerce 360, predicts that U.S. shoppers will splurge on nearly $460 billion in online sales in 2017, proving the global marketplace is ripe for Net Element’s ideas (http://nnw.fm/hyHo3).

“We are pleased with our continued growth. Our results are a reflection of our ability to deliver growth,” Oleg Firer, CEO of Net Element, said prior to the company’s August 15 conference call to discuss second quarter 2017 financial results and business highlights. “We are excited about our strategic initiatives for the remainder of the year as we continue to streamline international operations and reduce operating expenses while managing the strong U.S. growth and expansion.”

For more information, visit the company’s website at www.NetElement.com

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