Global technology and value-added solutions group Net Element (NASDAQ: NETE) recently announced that its transaction processing volumes for the first six months of 2018 demonstrated a substantial increase of 37% as compared to the same period in 2017. Total dollars processed from January 2018 through June 2018 totaled $1.62 billion versus $1.18 billion during the previous year. The company attributes the growth primarily to its subsidiary Unified Payments. The North America Transaction Solutions segment realized the largest increase of 40% to $1.4 billion from $1 billion while International Transactions Solutions achieved $211 million, an increase of 20% from $176 million. “We are pleased with our continued growth across all segments. Our growth is facilitated by our innovative, customer-focused value-added products and services. We are confident this trend will continue for the balance of 2018 and intend on putting measures in place to ensure these growth initiatives continue to deliver results well into the future,” Net Element CEO Oleg Firer stated in the news release.
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About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the U.S. and selected emerging markets. In the U.S., it aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, the company’s cloud based, restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest growing companies in North America on Deloitte’s 2017 Technology Fast 500™. In 2017, Net Element was recognized by South Florida Business Journal’s as one of 2016’s fastest growing technology companies. Further information is available at www.NetElement.com.
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