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The Fast-growing Global Online Food Delivery Industry is Expected to Grow to $200 Billion by 2025
MIAMI, FL, Dec. 26, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – 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 multichannel environment including point-of-sale (POS), e-commerce and mobile devices, today announces that its subsidiary, Aptito, has entered the global online food delivery industry through the launch of its multi-restaurant self ordering kiosk solution.
The global online food delivery industry is expected to grow from $82 billion to $200 billion by 2025 and is attracting significant investment to the tune of $9.6 billion in 2018 according to research by Frost & Sullivan. Aptito’s new multi-restaurant self order kiosk software-as-a-service provides a valuable solution for restaurants seeking to increase exposure and sales without the high fees being charged by the likes of Uber Eats, Grubhub and Postmates. These savings allow restaurants to offer incentives such as discounts and free food add-ons to attract and retain customers.
Touch screens with digital menus and attractive pictures function as a sales and marketing tool to generate take-out sales for participating restaurants at a fraction of the cost while reducing labour expenses. Aptito’s self-order kiosk solution doesn’t require the end user to have a smartphone. Anyone with a credit card can place an order and pay directly at the kiosk which can be conveniently located in office and residential buildings, schools, universities and other high-traffic businesses without dining alternatives on premises.
Direct marketing to local population
Choice of delivery partners
Better order fulfillment
“Aptito’s multi-restaurant self order kiosk solution fills a gap in the global online food ordering industry by bringing restaurants and consumers together regardless of the consumer’s mobile phone, Internet access or technology skills while reducing restaurants’ cost to generate sales and gain direct marketing exposure to their local communities,” commented Vlad Sadovskiy, president of integrated payments for Net Element.
About 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. In the U.S. it aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, our cloud-based, restaurant and retail point-of-sale solution. Internationally, Net Element's strategy is to leverage its omnichannel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest-growing companies in North America on Deloitte's 2018 Technology Fast 500™. In 2017, Net Element was recognized by South Florida
Business Journal as one of 2016's fastest-growing technology companies. Further information is available at www.NetElement.com.
Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Net Element and are difficult to predict. Examples of such risks and uncertainties include whether Aptito’s multi-restaurant self order kiosk software-as-a-service will achieve mass-market adoption, whether this product and service offering will result in a competitive advantage over the company's rivals and whether Aptito’s multi-restaurant self order kiosk software-as-a-service will be a success or yield any benefits to the Company. Additional examples of such risks and uncertainties include, but are not limited to: (i) Net Element's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Net Element's ability to maintain existing, and secure additional, contracts with users of its payment processing services; (iii) Net Element's ability to successfully expand in existing markets and enter new markets; (iv) Net Element's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Net Element's business; (viii) changes in government licensing and regulation that may adversely affect Net Element's business; (ix) the risk that changes in consumer behavior could adversely affect Net Element's business; (x) Net Element's ability to protect its intellectual property; (xi) local, industry and general business and economic conditions; (xii) adverse effects of potentially deteriorating U.S.-Russia relations, including, without limitation, over a conflict related to Ukraine, including a risk of further U.S. government sanctions or other legal restrictions on U.S. businesses doing business in Russia. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Net Element with the Securities and Exchange Commission. Net Element anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Net Element assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
Net Element, Inc.
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