Net Element, Inc. (NASDAQ: NETE) Strengthens Balance Sheet, Product Offerings and Governance

May 1, 2018 11:26:56
  • Advanced Netevia platform gets payments to merchants’ bank accounts faster
  • Equity capital injection of cash bolsters balance sheet
  • New board members to sit on audit and compensation committees

According to Statista, total payment revenues worldwide climbed to $1.6 trillion in 2016, and the market is projected to reach $2.2 trillion by 2021. Therefore, it’s no surprise that payment processors like Net Element, Inc. (NASDAQ: NETE) are doing so well. The company recently reported 2017 full year revenues of $60.1 million, which represents an increase of approximately 11 percent over its 2016 revenues of $54.3 million. That top line seems set to rise even higher, as the company’s Fast Pass Funding, accessible through its proprietary Netevia platform, gets underway. The new Netevia multi-channel payments platform connects and collects payments across a number of channels, including point-of-sale and mobile devices, through a single integration point.

The revenue growth at Net Element in 2017 was boosted by strong performance in the company’s North America Transactions Solutions division, with both dollars and transactions increasing. Revenues in that business segment increased over…

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