Asset Acquisitions Grant New Potential to Payment Technology Developer Net Element, Inc. (NASDAQ: NETE)
- Net Element transaction with Argus Merchant Services and Treasury Payments leads to expectations of added gross profits in next four years
- E-commerce expected to command larger share of sales revenues than brick-and-mortar retail by 2022
- Net Element technologies adaptable to wide variety of mobile and online business needs
World finance technology innovator Net Element, Inc. (NASDAQ: NETE) is building its own capital potential as well as that of its customers, announcing recently that it has acquired cash flow assets that are expected to generate well over $4 million in gross profits over the next four years and continued profits thereafter.
The $1.42 million transaction through subsidiary Unified Portfolio Acquisitions is a step forward in the company’s five-year partnership with credit and debit card payment processing platforms Argus Merchant Services, LLC and Treasury Payments, LLC, both under the direction of Argus President Jacob Shimon. Additionally, Argus’ total billing commitment to Net Element’s Unified Payments subsidiary is expected to generate over $19 million in gross margin during the next five years, according to a news release issued by the company (http://nnw.fm/A6Bgf).
“The unprecedented support and commitment we have received from Net Element has not only helped us grow our business, but also establish strategic partnerships with our ISO’s and agents. We feel confident that this transaction will boost our continued growth and establish a strong leading presence in the market,” Eugene Gold, managing partner of Argus Merchant Services and CEO of WOW Payments, stated in the news release.
Net Element focuses its payments as a service model on the needs of small- to medium-sized enterprises in the United States and select emerging markets. The company provides point of sale support to restaurants and retailers through its Aptito technological solution (http://nnw.fm/se4MT), to hotel and tourism industry enterprises through its VIP Payments platform (http://nnw.fm/3eK3f) and to kiosk and truck vendors through its Unified Mobile Payments (http://nnw.fm/oBS8y). It also adds online B2B e-commerce services for brick and mortar storefronts through Netevia (http://nnw.fm/yLq2z).
Worldwide commerce continues to increase its level of transaction online and through networked mobile devices. Market researcher Euromonitor International forecasts that it will grow exponentially by 2022 to become a larger channel than traditional grocery retail (http://nnw.fm/8JGhB), even though it currently commands less than a quarter of that market share, according to Shopify.com (http://nnw.fm/y5QV8).
The success of e-commerce businesses will depend on their ability to manage multiple channels of customer engagement — the widely varying means by which potential clients gain information about what a business offers as they shop around. Net Element’s omni-channel PayOnline platform takes a global view of commerce as it aims to deliver flexible solutions to international markets where diverse banking, regulatory and demographic conditions exist.
The company recently scaled back its European ventures, but it added a unique development when it announced that it would partner with Sputnik Bank in Russia to provide third-party bank processing to other banks locked into the country’s increasingly outdated legacy systems (http://nnw.fm/4L8bo).
“We believe this is the first bank to provide a wholesale service to other Russian banks and if executed properly could be a huge success,” the company stated in its news release about the partnership. “In the future, this entity could even be spun off into its own independent fintech company like many of the banks in the U.S. have done.”
For more information, visit the company’s website at www.NetElement.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- Net Element transaction with Argus Merchant Services and Treasury Payments leads to expectations of added gross profits in next four years
- E-commerce expected to command larger share of sales revenues than brick-and-mortar retail by 2022
- Net Element technologies adaptable to wide variety of mobile and online business needs
World finance technology innovator Net Element, Inc. (NASDAQ: NETE) is building its own capital potential as well as that of its customers, announcing recently that it has acquired cash flow assets that are expected to generate well over $4 million in gross profits over the next four years and continued profits thereafter.
The $1.42 million transaction through subsidiary Unified Portfolio Acquisitions is a step forward in the company’s five-year partnership with credit and debit card payment processing platforms Argus Merchant Services, LLC and Treasury Payments, LLC, both under the direction of Argus President Jacob Shimon. Additionally, Argus’ total billing commitment to Net Element’s Unified Payments subsidiary is expected to generate over $19 million in gross margin during the next five years, according to a news release issued by the company (http://nnw.fm/A6Bgf).
“The unprecedented support and commitment we have received from Net Element has not only helped us grow our business, but also establish strategic partnerships with our ISO’s and agents. We feel confident that this transaction will boost our continued growth and establish a strong leading presence in the market,” Eugene Gold, managing partner of Argus Merchant Services and CEO of WOW Payments, stated in the news release.
Net Element focuses its payments as a service model on the needs of small- to medium-sized enterprises in the United States and select emerging markets. The company provides point of sale support to restaurants and retailers through its Aptito technological solution (http://nnw.fm/se4MT), to hotel and tourism industry enterprises through its VIP Payments platform (http://nnw.fm/3eK3f) and to kiosk and truck vendors through its Unified Mobile Payments (http://nnw.fm/oBS8y). It also adds online B2B e-commerce services for brick and mortar storefronts through Netevia (http://nnw.fm/yLq2z).
Worldwide commerce continues to increase its level of transaction online and through networked mobile devices. Market researcher Euromonitor International forecasts that it will grow exponentially by 2022 to become a larger channel than traditional grocery retail (http://nnw.fm/8JGhB), even though it currently commands less than a quarter of that market share, according to Shopify.com (http://nnw.fm/y5QV8).
The success of e-commerce businesses will depend on their ability to manage multiple channels of customer engagement — the widely varying means by which potential clients gain information about what a business offers as they shop around. Net Element’s omni-channel PayOnline platform takes a global view of commerce as it aims to deliver flexible solutions to international markets where diverse banking, regulatory and demographic conditions exist.
The company recently scaled back its European ventures, but it added a unique development when it announced that it would partner with Sputnik Bank in Russia to provide third-party bank processing to other banks locked into the country’s increasingly outdated legacy systems (http://nnw.fm/4L8bo).
“We believe this is the first bank to provide a wholesale service to other Russian banks and if executed properly could be a huge success,” the company stated in its news release about the partnership. “In the future, this entity could even be spun off into its own independent fintech company like many of the banks in the U.S. have done.”
For more information, visit the company’s website at www.NetElement.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
