Net Element (NASDAQ: NETE) Poised to Support Mobile Payment Growth in the US and Beyond

Technology now allows consumers to make instant purchases, even if they don’t have cash or cards on hand. Net Element (NASDAQ: NETE), a specialist in mobile payment technology, is seeing cashless transactions increase nationwide and globally. North American transactions revenue increased 54 percent from 2015 to 2016, reaching over $42 million. The growth of bankcard regional volume here doesn’t even come close to regions such as the emerging Asian market. According to the World Payments Report 2015, this sector grew 21.6 percent in Asia and 8.6 percent in South America. Still, according to a recent press release (http://nnw.fm/b3Luw), Net Element’s North American segment represented 78 percent of the company’s corporate revenue, an increase of 10 points over the previous year.

The results of a Market Intelligence and Consulting Institute study released in March (http://nnw.fm/B7jWQ) reveal that consumers used their mobile wallets most frequently at restaurants. About 76.4 percent of mobile tech users did so to pay for meals, and another 33.2 percent did so to pay for transportation services. Aptito’s iOS and Android cloud-based point-of-sale (POS) system includes a restaurant management and payment acceptance solution, offering digital menus and kiosks on the iPad. The POS system and iPhone app lets businesses…

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