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Net Element,Inc. (NETE) Assembles Vital Building Blocks for Growth in Booming Global Mobile Payments Market

With industry researchers predicting big growth for the mobile payments market through 2017 and beyond, the ‘whisper number’ on the street indicates that the U.S. mobile payment market will see $90 billion spent in 2017. This amounts to a whopping 48 percent compounded annual growth rate over the $12.8 billion that was spent three years ago.

These reports seem to align with other predictions such as the $110 billion in transactions anticipated by Juniper Research across the U.S., Canada and the Western European markets. ABI Research is predicting approximately $190 billion annual figure for 2017 for global NFC-based mobile payments made in October 2014. NFC (near-field communication) allows two devices placed within a few centimeters of each other to exchange data. In order for this to work, both devices must be equipped with an NFC chip.

Net Element (NASDAQ: NETE), a global payments-as-a-service, technology provider with an integrated mobile and transactional services platform, has assembled quite an impressive collection of building blocks that appear to be enabling the company to catch this emerging technology wave and ride it to strong growth and shareholder value. Its wholly owned subsidiary, TOT Group, operates Unified Payments, a U.S. focused transaction processing and value-add brand; Aptito, a cloud-based point of sale payments platform; and TOT Money, a mobile payments service provider previously ranked in the Top 3 mobile payments providers by Beeline, a leading Russian telecommunications company.

Not to be overlooked as one of the more vital building blocks needed for growth, NETE recently announced it has entered into definitive agreements with a qualified institutional buyer and certain institutional accredited investors for financing transactions that will make an initial amount of $10.5 million and potential additional amounts of up to an additional $14 million available to the company.

For more information on the company, visit

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