Net Element Reports First Quarter 2018 Financial Results and Provides Business Update
Summary
MIAMI, May 14, 2018 (GLOBE NEWSWIRE) -- Net Element, Inc. (NASDAQ: NETE ) (“Net Element” or the “Company”), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale (“POS”), e-commerce and mobile devices, today reported financial results for the first quarter ended March 31, 2018 and provided an update on recent strategic and operational initiatives.“We are pleased to have made a strong start to the year, becoming more competitive for our sales partners and merchants while continuing to deliver growth,” commented Oleg Firer, CEO of 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.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.Examples of such risks and uncertainties include, but are not limited to whether blockchain technologies will in fact play a key role in future commerce in the payments industry; whether the Company will be successful in the development of a decentralized crypto-based ecosystem to act as a framework for a number of value-added services that can connect merchants and consumers directly utilizing blockchain technology whether through its platform called Netevia or otherwise, wheter the Company will continue to improve growth across all segments going forward.