The days when retailers waited hopefully for customers to visit their High Street locations are long gone. In this digital age, consumers are pursued and wooed wherever they congregate, which could be a news site, an online forum or a social media platform. They may be using a desktop, a tablet, or, very likely, a smartphone – different devices that require different configurations for accepting payments. As a result, the retailer whose shopping cart can only accept orders from one of these will be missing out, while his savvy competitor, using a service from Net Element, Inc. (NASDAQ: NETE), offers a smooth, seamless shopping experience to customers. Net Element is a global fintech provider with technology that facilitates acceptance of electronic payments in an omni-channel environment.
Our shopping expeditions are decidedly different from those undertaken by Mom and Pop. Research by Google (http://ccw.fm/901Dx) reveals “that consumers want more information and customized experiences during their shopping journey: Two in three shoppers who tried to find information within a store say they didn’t find what they needed, and 43% of them left frustrated. And 71% of in-store shoppers who use smartphones for online research say their device has become more important to their in-store experience.”
The evolution and spread of digital devices has fundamentally altered our approach to commerce. Importantly, consumers now rely on their PCs and smartphones to “window shop” products. After this initial research, actual sales may be realized in a variety of ways.
Regardless of the channel, Net Element has a platform to handle it. The solutions offered by the company enable merchants of all sizes to accept and process over 100 different payment options in more than 40 currencies, including credit, debit and prepaid payments. Net Element also provides merchants with value-added services and technologies, including integrated payment technologies, point-of-sale solutions, security solutions, fraud management, information solutions and analytical tools.
Net Element owns and operates the following subsidiaries:
Recently, Net Element announced that its Unified Payments division had, through its partnership with an institutional investor, arranged a $5 million credit facility for Payment Club to drive its growth initiatives (http://ccw.fm/xP88a). Unified Payments will soon be launching subscription-based payment processing services through the alliance with Payment Club, Inc., expanding its services in cashless payment acceptance.
For more information, visit the company’s website at www.NetElement.com
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