The state of the global financial technology industry, new commerce models and payment processing platforms were the main topics of discussion approached by Net Element, Inc. (NASDAQ: NETE) CEO Oleg Firer during a special event organized by UK’s entrepreneurial network E2Exchange Ltd (E2E) on Wednesday, June 14. The event was part of the British organization’s Leaders Series Breakfast at the House of Lords in London and was hosted by Lord Karan Bilimoria CBE, DL, who is also board director of the E2E, chancellor of Birmingham University and co-founder of Cobra Beer.
During the Breakfast at the House of Lords event, Firer and Bilimoria took an in-depth look at the state of the current fintech industry, including the emergence of omni-channel commerce over traditional commerce models. With smartphones now influencing more than 28 percent of U.S. retail sales and with research indicating that strong omnichannel customer engagement (http://nnw.fm/3ZNrb) strategies retain approximately 89 percent of customers, it is of crucial importance for all retailers to make sure they offer a seamless purchasing experience to clients, both online and in-store.
Firer, who is a member of E2E’s advisory board, also touched on the subject of current payment processing technologies – in particular blockchain and similar alternatives, as well as Net Element’s own role in the industry and its product offering. As a global technology group that specializes in mobile payments and value-added transactions, Net Element provides a wealth of electronic payment solutions for various industries and is in a unique position to become a leader on the worldwide mobile payment industry, which is expected to surpass $800 billion by 2019.
Net Element is a driving force behind the exponential growth of mobile point-of-sale transactions in recent years, offering highly accurate, secure and fast services. Net Element operates through a series of subsidiaries, such as Aptito – a next generation cloud-based payments platform, Digital Provider – offering text messaging and mobile billing options, Restoactive – a digital add-on for legacy point-of-sale systems, PayOnline – a fully integrated e-commerce platform, and Unified Payments – the fastest growing private company in the U.S. in 2012, according to Inc. Magazine.
Through these subsidiaries, Net Element offers a multitude of electronic payment solutions to merchants of all sizes, allowing them to process transactions quickly and securely. In 2015, the company processed a total of 51.2 million bankcard transactions in North America, 90 million transactions in the Russian Federation and CIS, and roughly 19.5 million mobile payment transactions in emerging markets.
The E2E event also included a Q&A session where Firer took questions from guests in attendance and other participants. The Net Element CEO joined E2E’s advisory board after the two organizations signed a strategic partnership last December. Under the partnership, E2E benefits from Net Element’s global multi-channel payment services, while the company will lend its expertise and experience to assist E2E members in their efforts to achieve their growth goals. Founded in 2011, E2Exchange (http://nnw.fm/IpMN6) is an established network of over 12,000 entrepreneurs, investors, non-executives and partners, designed to help create a communication bridge between business leaders, service providers, government influencers and more. Its ultimate goal is to help the UK’s entrepreneurs grow their businesses, as well as the national economy.
The Breakfast at the House of Lords conference attended by Firer was organized during London Tech Week (http://nnw.fm/dEv7S), a major event bringing together 40,000+ attendees from more than 70 countries for five days of technology presentations, networking, learning, social and business opportunities. The city-wide festival seeks out technology’s best, with some of the tech world’s most creative minds, and contributes to London’s reputation as a world technical center while giving businesses direct access to a huge and knowledgeable tech audience. This year’s event ran between June 12 and 16.
For more information about Net Element, visit www.NetElement.com
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