NEW YORK (TheStreet) -- Shares of mobile payment specialist Net Element  (NETE - Get Report) rose 4.42% to $1.22 in afternoon trading Wednesday as it received a boost from Apple's  (AAPL) announcement that Apple Pay accounts for two of every three dollars spent through contactless payments on Visa  (V) , MasterCard  (MA) , and American Express  (AXP) .

"I'm actually unbelievably shocked, positively shocked at how many merchants were able to implement Apple Pay in the middle of their holiday season," Apple CEO Tim Cook said on the tech giant's conference call for its quarterly earnings on Tuesday.

More than 2.6 million shares had changed hands as of 1:09 p.m., compared to the daily average volume of 571,958.

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