The age of electronic payments has dawned. As companies continue to evolve increasingly diverse and accessible means for consumers to interact with the point-of-sale systems of merchants, the market is primed to provide explosive growth opportunities to well-positioned mobile payment solutions providers. Net Element, Inc. (NASDAQ: NETE), through the recent announcement of its plans for Europay, MasterCard and Visa (EMV) chip-enabled payment solutions, is focused on asserting itself at the top of the market.
It’s easy to see that the company could be on the verge of big moves in the vital payments market. In addition to expanding its mobile payment technology through the acquisition of PayOnline and implementing Apple Pay compatibility on all of its U.S. point-of-sale terminals last year, Net Element also eliminated $15.9 million of debt obligations and surpassed the 1 million recurring mobile subscriber milestone, reinforcing the company’s status as a growing force in the global payments market.
“Now that we have strengthened our balance sheet by eliminating most of our debt and created a restructured operational foundation, we can advance our plan to grow market share, accelerate sales and expand profitability,” commented Oleg Firer, Chief Executive Officer of Net Element.
If recent moves are any indication, the company’s plan for increased market share could already be underway. Net Element’s recently announced partnership with TAS Group to develop EMV solutions, card management systems and mobile payment technologies for vital markets around the globe should give the company a clear conduit for continued growth both domestically and internationally.
In the United States, the promotion of TAS Campus, which is designed to make campus payments faster and more secure, looks to be a potential game-changer for students around the country. In Latin America, the company’s upcoming Unified Duex Card, which opens the door for more affordable and effective payments by migrant workers back to their home countries, gives Net Element improved access to another essential evolving payment niche.
With so many areas to grow, the future looks bright for shareholders of this global payments-as-a-service provider. As the electronic payments market continues to evolve at record rates, look for Net Element to continue establishing itself as a top mobile payment solutions provider in 2015.
For more information, visit www.netelement.com
