Variety of Online Payment Options Expanding Dramatically Changing the Electronic Payment Landscape
Palm Beach, FL – January 15, 2019 – The Online, Electronic Payment Industry is still considered by most to be a very diverse, constantly evolving industry fueled by significant consumer adoption on a global level. Those entrenched in the digital payments industry are all positioning themselves and waging a war for dominance of this expanding and rapidly growing sector. The magazine Entrepreneur published a list sometime ago with the Most Popular Online Solutions available with many familiar names, listing PayPal (NASDAQ:PYPL) at the top. The article went on to say, “There’s no denying that when it comes to accepting and receiving payments, PayPal is the reigning champion.” But the article did mention “While people tend to love PayPal for a variety of reasons, technology has opened the door for a number of competitors to challenge PayPal by offering cheaper fees, faster transactions, and enhanced security.” Other Active Companies in the industry include NetCents Technology Inc. (CSE:NC) (OTC:NTTCF), Square Inc. (NYSE:SQ), Net Element Inc. (NASDAQ:NETE), Visa Inc. (NYSE: V).
In a side note, Entrepreneur may have overlooked possibly the biggest new technology/marketing twist to the entire market however. The elephant in the room these days is Crypto as currency. An industry magazine, Mobile Payments proclaimed: “Payments companies make it easier for consumers, merchants to embrace cryptocurrencies”. The article continued with “While most consumers today likely view bitcoin, bitcoin cash and alternatives such as Ethereum and Litecoin as assets, some payments companies in the past couple of months have announced plans for consumers to more easily use cryptocurrencies as payment, and merchants to accept them. “We could see some retailers try to future-proof themselves by working with payment providers that support crypto payments but this will mostly be as an add-on to existing systems.”
NetCents Technology Inc. (CSE:NC) (OTC:NTTCF) (Frankfurt:26N) BREAKING NEWS: NetCents Technology is pleased to announce the addition of Eric Turille and Don Sieb to the Company’s Board of Advisors. The addition of Mr. Turille and Mr. Sieb to the Board of Advisors adds decades of payment industry knowledge, experience, and relationships to the NetCents management team.
“Eric and Don’s extensive experience in the payment industry is unparalleled and they are a welcome addition to the NetCents team,” stated Clayton Moore, CEO of NetCents Technology. “The foothold the Company made into the traditional payment industry in 2018 is a great foundation for us to build upon in 2019. The knowledge and connections that Eric and Don bring to the table will allow us to continue to disrupt payments and bring us one step closer to becoming the underlying technology for cryptocurrency payments.”
Eric Turille, a 30-year veteran formerly with First National Bank of Omaha (FNBO), VITAL – now TSYS Acquiring Solutions (TSYS), and NewTek Business Services (NEWT), brings his extensive banking, payment processing, and payment technology expertise to the Company. Eric’s formidable experience in card issuing, merchant acquiring, and deep experience in operations, compliance, and distribution will strengthen the Company’s ability to roll out its upcoming credit card program and ability to execute its key 2019 objectives.
“The opportunity for cryptocurrency transaction processing to reach critical mass, in any timeline, requires several existing complexities that NetCents ecosystem and management team poses,” stated Eric Turille. “The NetCents business model, financial technology, infrastructure, compliance, and strategic integrations are ripe for merchant and consumer adoption. I am excited to join the NetCents Advisory board to execute strategic distribution, product delivery, and unique customer acquisition models.”
Don Sieb, a 30-year respected payment industry expert and former executive at Ingenico and VeriFone, brings his banking, finance, and payment processing experience to the NetCents leadership team. Don’s wide range of subject matter expertise, compliance, and strategy compliment the Company’s current focuses in business process and delivery to large international retailers and payment industry organizations.
“NetCents is positioned to positively impact merchant adoption and behavioral changes necessary to become a transactional currency with confidence at any online, mobile or merchant location,” stated Don Sieb. “I’m excited to bring my experience, shared vision, and business acumen to the NetCents leadership team.” Read this and more news for NetCents at: https://www.financialnewsmedia.com/news-nc/
Other recent developments in the tech industry include:
PayPal Holdings, Inc. (NASDAQ:PYPL) announced on Monday the appointment of marketing veteran Allison Johnson to the position of executive vice president and chief marketing officer (CMO), effective today. In this newly created role, Johnson will be based in the company’s San Jose headquarters and report directly to PayPal CEO Dan Schulman. “Allison is a highly experienced, much-admired marketing leader with a proven track record of building global brands, making her a natural addition to our leadership team,” said Schulman. “PayPal has made strong progress over the past several years to advance our position as the leading digital payments platform and one of the most dynamic and valuable brands in the world. Allison’s experience and vision will build on that progress and help propel PayPal forward during our next phase of growth.” As PayPal CMO, Johnson will lead strategic marketing for PayPal and its family of brands around the world, building on the transformational work already accomplished.
“I was an early convert to PayPal’s vision of fast, secure online payments. I’m thrilled to have the opportunity to work with this remarkable team to accelerate PayPal’s growth as we continue to define the future of global payments.”
Johnson brings more than two decades of marketing experience to PayPal. Previously, Johnson served as Apple’s vice president of worldwide marketing communications from 2005 to 2011. During that time, she helped to reinvigorate Apple’s Mac business and launched the iPod, iPhone, iPad and the App Store with unprecedented marketing campaigns. Before Apple, Johnson was senior vice president of global brand marketing at HP, where she spearheaded the repositioning and relaunch of HP’s brand globally with the award-winning +HP campaign.
Square, Inc. (NYSE:SQ) recently announced that Amrita Ahuja has joined the company as Chief Financial Officer. Amrita will start will report to CEO Jack Dorsey.
Amrita was the CFO of Blizzard Entertainment, a leading global developer and publisher of interactive software products and entertainment content with over $2 billion in annualized revenue and a division of Activision Blizzard. Amrita had been with Activision Blizzard for over eight years in a number of finance and strategy roles across the company, including SVP of Investor Relations, VP of Finance and Operations, and VP of Strategy and Business Development. Prior to Activision Blizzard, she held various roles at Fox Networks Group, the Walt Disney Company, and Morgan Stanley. She received her M.B.A. from Harvard Business School and her A.B. from Duke University.
“In Amrita, we have found an amazing, multidimensional business leader,” said Jack Dorsey, Square CEO. “Amrita brings the ability to consider and balance opportunities across our entire business, and she will help strengthen our discipline as we invest, build, and scale. She is willing to challenge herself and others, has the courage to take principled risks, and is passionate about our customers and our purpose.”
“Amrita has a rare combination of financial acumen, strategic operational experience, and the ability to dive deep into a multifaceted business,” said David Viniar, Square’s Lead Independent Director and former CFO of Goldman Sachs. “She will be a fabulous addition to Square, and I look forward to working with her as she joins our high-caliber executive team.”
Net Element, Inc. (NASDAQ: NETE) closed up 0.16% on Wednesday at $6.30 by the market close. The company is 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, announced today the launch of its multi-channel blockchain-powered payments application across multiple touch points including face-to-face via smart payment terminals and electronic commerce as well as via API. “Over the past few years blockchain technology has revolutionized the world of payments thanks to its decentralization, cost-effectiveness and convenience,” commented Vlad Sadovskiy, President of integrated payments for Net Element. “The addition of a cryptocurrency payment acceptance option to our Netevia platform carries forward our tradition of innovation as we power global commerce.”
Visa Inc. (NYSE: V) will report its fiscal first quarter 2019 financial results on Wednesday, January 30, 2019. The results, along with accompanying financial information, will be released after market close and posted on the Visa Investor Relations website.
Visa’s executive management team will then host a live audio webcast beginning at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss financial results and business highlights. All interested parties are invited to listen to the live webcast at http://investor.visa.com. A replay of the webcast will be available on Visa’s Investor Relations website for 90 days.
Visa is currently in its customary “quiet period” during which time company executives will not be interacting with the investment community. This quiet period will be in place until fiscal first quarter 2019 earnings are released on January 30, 2019.
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