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Net Element (NETE) Executing on Mission and Vision for Growth in Mobile Payment Market
Talk among industry researchers on the street indicate that the U.S. mobile payment market will eclipse $90 billion spent in 2017. This number characterizes a resounding 48 percent compounded annual growth rate over the $12.8 billion spent in 2012. For those whose endeavors involve building shareholder value, the mobile payment market is viewed as very fertile ground.
Corroborating data from Juniper Research indicates as much as $110 billion in transactions are anticipated across the U.S., Western Europe and Canadian markets for the same period. ABI Research is predicting approximately $190 billion for 2017 for global NFC-based mobile payments made in October 2014.
Net Element (NASDAQ: NETE), a global payments-as-a-service, technology provider with an integrated mobile and transactional services platform, has assembled what many have referred to as an impressive collection of building blocks that enable the company to catch this emerging technology wave and create the kind of value the investor intended to receive from the get-go. The company’s 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.
Characterized as a significant building block for growth, NETE is fully engaged in definitive agreements with a qualified institutional buyer and certain institutional accredited investors for financing transactions. The company is now working with $10.5 million as well as the potential for future funding of up to $14 million to further advance the company business model and mission.
For more information on the company, visit www.netelement.com
