NetworkNewsWire Editorial Coverage: When it comes to ecommerce,
integrated payment solutions provide consumers more flexibility in
their shopping than ever before. The conveniences of these
solutions have long been in the making (the first online payment
services started in the 1990s) and today promise to be the future
of payments. For consumers, integrated payments mean the capability
to initiate a transaction on a smart device, complete the buying
process online, and finalize the transaction in store or via home
shipment. For merchants, this translates to streamlined accounting,
stronger customer relationships, integrated payment acceptance into
next-generation and legacy point-of-sale systems, customer
management systems, and more selling and marketing opportunities
through business data analytics and loyalty programs. The companies
driving this improved consumer experience include Net
Element, Inc. (NASDAQ: NETE) (Net Element
Profile), (which offers an array of omni-channel
payment solutions, as well as Vantiv Inc. (NYSE:
VNTV), Global Payments Inc. (NYSE: GPN),
Amazon.com, Inc. (NASDAQ: AMZN) and
Alphabet, Inc. (NASDAQ: GOOG).
Payment processing integration saves merchants time by
eliminating manual processes such as entering credit cards. It also
has the potential to reduce human error, increases cash flow, and
reduces labor costs. Integrated payments can also allow merchants
to accept payments across multiple sales channels such as:
face-to-face, online, mobile, smart televisions and in-application.
In doing so, integrated payments can improve customer service as
the merchant can spend more time on customer interaction,
satisfaction, marketing and other vital business components.
As a global provider of multi-channel payment technology
solutions and value-added transactional services, Florida-based
Net Element
(NETE) recognizes the potential of omni-channel,
integrated payment solutions. In 2016, Net Element was named one of
the fastest-growing technology companies in South Florida Journals
2016 Technology Awards. Its PayOnline subsidiary, for example,
manages electronic commerce through a simplified approach to
enterprise online transaction and mobile payment processing. It
addresses payment acceptance, processing, risk prevention and
security, operating as a single software-as-a-service suite. Among
many other features, PayOnline’s recently launched “Instant Credit”
service allows online merchants to sell goods and services on
credit. Consumers benefit from the ability to interact directly
with integrated credit institutions to secure instant access to
loans, while merchants have the means to achieve higher conversion
rates at checkout and increase average ticket size. The solution is
ideal for the ecommerce of high-priced items such as digital
technology and household appliances for which consumers may need
credit. In addition, PayOnline offers mobile payment acceptance
across all mobile devices, including Apple iOS, Android and
Microsoft. PayOnline’s proprietary Pay-Travel solution integrates
the exiting financial instruments already used by the travel
industry into a best-in-class, multi-channel, Global Distribution
(“GDS”) platform, which allows users to effectively manage all
aspects of their payment needs in a flexible, easy-to-use solution
integrated with popular GDS solutions such as Amadeus, Sabre and
Travelport. In 2016, PayOnline was named the best processing
gateway by Tagline, and was recognized for its payment services by
Markswebb Rank & Report, ranked as a Top 5 payment acceptance
company.
Net Element’s Unified Payments subsidiary, recognized in 2012 by
Inc. Magazine as the #1 Fastest Growing Company in America, offers
a secure mobile point-of-sale system designed to help small
businesses drive revenue and profitability. Unified Payments
facilitates quick payment acceptance and allows product inventory
to be used to build orders. Customer details can be recorded
instantly, and the service comes with an EMV-compliant bankcard
reader and smart payment terminals. Through an online business
analytics dashboard, Unified Payments Insights focuses on big data
to give merchants the chance to compare current revenue, social
media activity, and online reputation. The platform allows
businesses to see what customers are saying about them on websites
such as Yelp and TripAdvisor, manage customers from acquisition to
retention, monitor the competition with alerts and feedback, manage
social media activity, and analyze business performance. In
addition, Unified Payment offers its merchants fully integrated an
omni-channel gift and loyalty platform, which enables
small-to-medium size businesses to centralize their customer data
spanning in-store, online, social and mobile channels
Additionally, through its partnership with Planet
Payment, Inc. (NASDAQ: PLPM), a leading provider of
international and multi-currency payment processing services,
Unified Payments offers online merchants Planet Payment’s
Multi-Currency Pricing. This offering enables merchants to more
effectively expand into foreign markets by displaying pricing and
accepting payments in a variety of local currencies. The gold in
this capability goes back to the consumer desire for convenience.
Multi-Currency Pricing provides online merchants the tools needed
to create an enhanced shopping experience for international
customers.
Net Element’s Digital Provider subsidiary offers a large
portfolio of customizable payment solutions that enable
organizations to monetize their goods and increase conversions.
With Digital Provider, customers can charge their purchases
directly to their cell phone bill using just their mobile number-
no credit cards or sensitive bank account information is required
for the purchase. Ultimately, this capability simplifies the
pattern of interaction between customers that visit a business’
online store and all other online services. These services are
coupled with call center rentals, automated mass payments, and a
package solution that provides organizations the chance to fund
raise for charitable cause.
Net Element
(NETE) technologies are also making waves in the
restaurant and retail industries:
Net Element
(NASDAQ: NETE) Addressing $783 Billion Restaurant Industry’s Need
for Speed, Accuracy with Aptito
Phone, mobile device, online and point-of-sale terminal payments
are all processed by Net Element’s single payment processing
platform, but the company isn’t the only player in the integrated
payment space. Vantiv (VNTV) offers in-store and
online point-of-sale solutions that also support both methods. As
part of its strategy to bolster its ecommerce technology
capabilities, Vantiv recently announced a plan to purchase
Paymetric, which provides electronic payment solutions for the
enterprise to streamline the order-to-cash process, reduce the
scope and financial burden of achieving PCI compliance and improve
return on electronic payment acceptance. Paymetric integrates ERP
and CRM systems with robust payments capabilities to help companies
optimize workflows, save time and reduce costs.
Vantiv recently reported total first-quarter revenues of $928.2
million, an increase of 13% compared to the year prior, and expects
continued growth as it forecasts full-year 2017 revenues to
increase 9-11% year-over-year.
Global Payments (GPN), also a recognizable
force in omni-channel payment solutions, currently serves 2.5
million merchant locations. A member of the S&P 500, the
company has merchants and partners in North America, Europe, Brazil
and the Asia-Pacific region spanning 30 countries. The
Atlanta-based organization offers e-commerce, onsite payments,
cross-border, development, and integrated solutions.
The company recently unveiled its new vertically integrated
TouchNet® OneCard VIP™ platform for campus-wide transactions.
According to the press release, the platform is represents new
cloud-based campus ID software designed to simplify student life by
maintaining student access privileges and enabling payment
transactions across colleges and universities. This is yet another
example of how today’s leading companies are rising to meet the
demand for omni-channel solutions that create a unique user
experience.
Perhaps the most familiar name in integrated payment systems is
Amazon.com (AMZN) Amazon Pay keeps customer
information secure and transactions fast for small and large
companies. It now reportedly has over 33 million customers
worldwide (as of April 2017), doubling in a year, and was recently
expanded to Italy, France and Spain. Aside from supporting plug-ins
to connect with e-commerce partners such as Shopify, BigCommerce,
and PrestaShop, Amazon Pay lets businesses brand the checkout
experience, increase conversions, and grow their operations. A
global partner program helps connect merchants with e-commerce
platform providers, professional developers, and agencies. The
company also said the Pay with Amazon button is seen on about 10
percent of top U.S. e-commerce sites, not only representing
consumer demand but opportunities for retail investors looking to
take on the market.
Alphabet Inc. (NASDAQ: GOOG), a conglomerate of
companies that includes Google, recently established an agreement
with PayPal Holdings (NASDAQ: PYPL) to combine
Google’s digital wallet with PayPal for Android smartphone users,
who can now take advantage of the most popular payment method
(PayPal is available on 70 percent of e-commerce sites). Alphabet
is also now the publicly-traded entity, as all shares of Google
(now a wholly owned subsidiary) were converted to the same number
of shares as the company. The agreement opens the door to making
PayPal available in stores and may boost the mobile payment efforts
of Google, which the company has been trying to get off the ground
for some time.
On the user side, the agreement enables consumers to link PayPal
accounts to Google’s digital wallet – Android Pay. Anyone using the
digital wallet will be able to use PayPal to purchase products at
large retail chains. Ongoing efforts and deals are transforming
PayPal from a website tool to a versatile system for in-store
payments, transferring money overseas, and shopping using
smartphones. It’s yet another example of how electronic payments
are becoming a standard in consumer shopping, no matter where a
purchase is made.
Net Element, Vantiv, Global Payments, Amazon, and Alphabet are
all onboard to satisfy the demand for simple and secure integrated
payment solutions. Retailers, consumers and shareholders will only
continue to benefit as these brands compete for market share and
develop global networks. Building its presence in developed and
emerging markets, Net Element stands out from the rest as it caters
to the demand for fully integrated online payment solutions. These
solutions are allowing people to complete purchases online, have
products shipped to them, or start the process on the Internet and
end it at the store.
For more information on Net Element
(NASDAQ: NETE) please visit: www.netelement.com
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