Mobile payment technology company Net Element, Inc. (NASDAQ: NETE), through its PayOnline subsidiary, this morning announced the launch of Apple Pay support for its Russian markets. “As the shift to mobile payments continues, PayOnline delivers the necessary support and tools merchants need to make payments a seamless part of online and mobile purchases,” Marat Abasaliev, head of online solutions for PayOnline, stated in the news release. “By delivering support to merchants that use Apple Pay, PayOnline demonstrates its ability to meet the growing demand for secure, convenient and quick transactions.” According to data from Apple, the global number of Apple Pay users is currently increasing by more than one million people per week, with transaction volume up about 500 percent over the past 12 months alone. The popular mobile payment solution was originally launched in Russia on October 4, 2016, and the total number of Apple Pay users in the country is currently estimated at roughly 200,000.
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About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the US, Russian Federation and other international markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant point-of-sale solution Aptito. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, India and Latin America where initiatives have been recently launched. It maintains offices in Miami, FL and in Russia. Further information is available at www.netelement.com.
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