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Net Element, Inc. (NASDAQ: NETE) News - February 8, 2017

 



A Look at the Global Evolution of Direct Carrier Billing



New York, NY -  February 8, 2017 - NetworkNewsWire News Coverage: According to a recent report in Android Headlines1, the long-awaited alliance between Google and India’s largest mobile carrier, Bharti Airtel, to offer Direct Carrier Billing (DCB) has finally come to pass. On the table since at least 2014, the deal would give Airtel’s nearly 40 million data subscribers the ability to purchase apps and digital content from the Google Play Store without having to submit banking information. This collaboration shows that DCB has come into its own. It won’t be long before Apple, Inc. (NASDAQ: AAPL), First Data Corp (NYSE: FDC), Square, Inc. (NYSE: SQ), PayPal, Inc. (NASDAQ: PYPL), Net Element (NASDAQ: NETE) and other DCB outfits find they are on the right bandwagon.

Google has inked a similar deal for the Indian market with British carrier Vodafone, suggesting DCB is on the cusp of rapid widespread acceptance. It’s worth noting that the payment trend is taking root among smaller players, as well as industry behemoths like Google. One such example is global technology company Net Element (NETE).

Ranked as one of South Florida Business Journal’s Top 25 Fastest-Growing Technology Companies, Net Element specializes in mobile payments and value-added transactional services. The company has oriented itself for growth in emerging economies and the U.S., actively seeking opportunities to transform the online and mobile experience with a multi-channel platform, simplified security and compliance, essentially providing an all-in-one digital solution.

Aligned with this growth strategy, Net Element offers DCB through its Digital Provider subsidiary. As one of several companies under the Net Element brand, Digital Provider works with the largest mobile operators in the Commonwealth of Independent States (CIS), as well as select emerging markets, to offer content providers, social media networks, game developers and other merchants a broad array of payment options, including DCB.

What Net Element has discovered is consumer appeal of DCB - which is that it gives a mobile subscriber the convenient ability to purchase content such as apps, games and music and, rather than make a separate transaction, have the charge put on his or her telephone bill.

Unlike making purchases with debit and credit cards, DCB does not require banking information. With DCB, a mobile provider supplies the third-party provider with just enough details to enable shipment of the content. The mobile provider pays the third party for the content and then sends the customer the bill at the end of the month.

It’s no accident that Google has chosen to expand its partnerships in India, where mobile phones far outstrip bank accounts. According to a global market report by Fortumo, called Direct Carrier Billing in 2016, Asia Pacific is set to overtake Latin America as the region with the largest transaction volume in carrier billing in 2017.

DCB volume in India grew by 175 percent in 2016 with a potential for further triple-digit expansion. With a population of 1.3 billion, the country has an estimated one billion mobile phone subscribers. However, smartphone penetration is just 20 percent. As Indians replace their old mobiles with smartphones, DCB is likely to become a major payment method.

The Fortumo report also highlights the Philippines and Australia, which together with India are the countries with the top growth markets in the Asia Pacific region.

At present, mobile phone billing, as the folks at Apple (AAPL) call DCB, is available to customers of its iTunes Store, App Store and iBooks Store who live in Belgium, Germany, Japan, Norway, Russia, Saudi Arabia, Switzerland, Taiwan and the United Arab Emirates. It’s worth noting that the United States isn’t on the list.

For the most part, Net Element is among the first businesses in the United States to offer DCB services, though companies like First Data Corp. could awaken to the opportunity and follow suit.

First Data (FDC) is a global payment technology company best known for its STAR inter-bank network. The company reportedly handles 45% of all U.S. credit and debit card transactions, but expansion there has been slow. First Data (FDC) is scheduled to release its fourth-quarter results before the market opens on February 13.

San Francisco-based Square, Inc. (SQ) - creator of the Square Reader that attaches to mobile phones and allows consumers to use debit and credit cards, as well as the Square Register point-of-sale software that can be used in lieu of traditional card terminals and cash registers – is also evolving the broader digital payment landscape. The company recently announced (http://nnw.fm/lMw7q) “a limited-time program that will allow small businesses to process more than $12,000 in Apple Pay payments for free (a $350 value) as an incentive for them to encourage their customers to use the payment method.”

PayPal (PYPL) is also moving the scale toward DCB in the United States. Back in 2012 at the Mobile World Congress in Barcelona, the company announced its plans to work with carriers and digital merchants to expand carrier payments. Today the company offers its Tele2 product, enabling subscribers to “top-up” their PayPal balances through their mobile phone bills – meaning the users can transfer money from their bank accounts into their PayPal (PYPL) accounts.

Fortumo forecasts that, while Latin America boasts the biggest transaction volume for carrier billing, Asia Pacific is likely to take the leading spot in 2017. Perhaps one snag for DCB in the United States is consumer concern over data security. However, as an increasing number of consumers abroad take advantage of the conveniences of DCB, the market on American soil is ripe for companies like Net Element (NETE) to take a leading start.

1. Android Headlines: http://nnw.fm/V4c1V

For more information on Net Element (NASDAQ: NETE) visit: www.netelement.com

About NetworkNewsWire
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Recent Net Element News and Commentary

 

Net Element, Inc. (NASDAQ: NETE) Giving Clients a 360-Degree View of their Business with Unified Payments Insights



New York, NY - February 7, 2017 - Although the use of big data has been around for years, businesses still do not use it to their full advantage. Despite past reports (http://nnw.fm/Cw1XS) predicting big data to be a key basis for competition, productivity growth, innovation, and consumer surplus, an article by the Harvard Business Review (http://nnw.fm/dY2E4) showcases the fact that most industries aren’t using their analytics to their full potential.

For the first time ever, business analytics is expected to drive business growth rather than just reflect performance. The problem is that businesses, in addition to often falling behind and not collecting the required data to get ahead of the competition, often do not understand the need to turn their data into...

Read more » https://www.networknewswire.com/net-element-inc-nasdaq-nete-giving-clients-360-degree-view-business-unified-payments-insights/

About NetworkNewsWire

NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

For more information, visit https://www.NetworkNewsWire.com

Please see full disclaimers on the NetworkNewsWire website: http://nnw.fm/Disclaimer

Source:  NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

 

 

Net Element's Unified Payments Announces Comprehensive Point-of-Sale Program During its 2017 Launch Series Unified


Payments introduces comprehensive point-of-sale placement program


MIAMI, FL -- (Marketwired) -- 02/01/17 -- Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, today announces that its Unified Payments subsidiary will introduce its new point-of-sale ("POS") program during its 2017 Launch. The first stop on the 2017 Launch Series is the annual Northeast Acquirers Association (NEAA) conference on February 1-2, 2017, taking place at the Renaissance Boston Waterfall Hotel in Boston, Massachusetts.

As a dedicated gathering space for leaders in innovation, the NEAA conference provides an opportunity for attendees to hear industry forecasts and trends for the upcoming year, and to obtain the tools needed for making an impact in the payments and point of sale market.

The event also provides Unified Payments increased exposure as it unveils its most comprehensive POS placement program to the market. Agents and ISOs looking to grow their business, improve their margins, enhance retention and remain relevant in the payments space will be excited to learn about these new and exciting Fintech solutions from Unified Payments. Through this innovative program, businesses in any stage of development can qualify to receive cutting-edge point-of-sale solutions. The program creates a perfect blend of modern smart POS terminal technology solutions such as Poynt and Clover with traditional point-of-sale solutions such as Aldelo POS and upgraded EMV solutions for Micros and Aloha. The comprehensive POS program also allows SMBs to benefit from the latest technologies with no upfront investment, and gain access to competitive analytical tools, historically available to only large national merchants.

All POS offerings are fully integrated with Unified Payments' free Gift Card Processing Platform, which allows omni-channel customer experience.

Unified Payments' presentation at NEAA will discuss the following topics:

The most comprehensive selection of POS solutions
Smart-payment terminal solution (Poynt)
Mobile POS solution (Unified mPOS)
True, omni-channel approach to merchant needs
Custom, home grown POS solutions (Aptito for Restaurants/Retail and Restoactive, proprietary interactive POS Add-On solution)
Omni-channel gift card program
How partnering with Unified Payments can benefit merchants and value-added resellers long-term
Try before you buy program: 90-days client satisfaction guarantee
According to Grand View Research, "Retail POS Terminals Market Size Report, 2024," Mobile POS terminals are expected to be the fastest-growing segment with a CAGR of over 17% from 2016 to 2024. The high return on investment and ease of usability are factors driving the global mobile POS terminal market growth. Developed markets are embracing tablets in addition to smartphones, as small specialty and retail businesses find tablets a powerful substitute for the traditional point-of-sale systems.

"What we have observed in the marketplace is that many other out-of-date programs leave merchants either stuck with equipment they did not like after using, or that they were not informed of the limitations of the system before signing multi-year, non-cancelable leasing contracts," commented Vlad Sadovskiy, president of Unified Payments. "We strongly believe in client satisfaction, and our 90-days try before you buy commitment is our way to show that we will go above and beyond in providing our clients with exceptional satisfaction."

About Northeast Acquirers Association The Northeast Acquirers Association (NEAA) was founded in 1985 and is entering its 32nd year of successfully serving and educating all distribution channels in the electronic payments industry in the northeast (ISO, MSP, MLS, FI). Annual conference provides an educational forum that covers the most current industry issues, trends and topics. NEAA provides economical access for attendees to meet with the companies that are the front-runners in developing the latest payment technologies, solutions and products. Our conference venues promote optimal settings for payment professionals to network one-on-one or in a group environment. Further information is available at www.northeastacquirers.com.

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 US and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant and retail point-of-sale solution Aptito. 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 such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Net Element was named in 2016 by South Florida Business Journal as one of the fastest growing technology companies. Further information is available at www.netelement.com.

Forward-Looking Statements 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, but are not limited to whether the introduction of its new point-of-sale program will positively impact the Company. Additional examples of such risks and uncertainties are : (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
+1 (786) 923-0502
media@netelement.com

Source: Net Element, Inc.

 

ESET Chooses Net Element's PayOnline for Secure Payments in Kazakhstan


 Leading international IT security company, provider of anti-virus and firewall products chooses PayOnline for secure payments acceptance


MIAMI, FL -- (Marketwired) -- 01/31/17 -- Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, today announces that ESET, a leading international IT security company which offers anti-virus and firewall products has chosen PayOnline for secure payment acceptance services.

This contract highlights that PayOnline not only serves local companies, but that it is also being selected as platform of choice by international companies looking for a secure platform to accept payments internationally.

ESET develops anti-malware software solutions that protect and secure computers, mobile devices and smartphones. ESET protects Internet users across 200 countries worldwide, making its anti-virus solution one of the leading solutions on the market.

PayOnline provides secure payment acceptance that protects ESET against fraud and consumer's data in accordance with the highest international payment security standard -- PCI DSS (Level 1). Clients of ESET in Kazakhstan can now securely pay online at shop.eset.kz using multiple payment methods, including MIR, Visa, Visa Electron, MasterCard and Maestro; payments are facilitated in Tenge, Kazakhstan's national currency.

According to Frost & Sullivan, a leading growth strategies consultancy, "ESET offers high-performance, proactive endpoint security solutions. The company goes above and beyond the competition to add value to its products by educating both Mac and PC users on how to defend themselves against the latest cyber threats... ESET will continue to maintain a strong presence in the endpoint security market and provide high value to its customers."

"Complex technology can be available, understandable and user-friendly. We believe in it and select partners whose values are similar to ours. Accepting payments at ESET online store utilizing PayOnline fully meets our requirements for quality of service and reliability. We are confident in our payment partner and together we can provide our users with reliable protection," commented Pavel Brazhnikov, director of Online Projects, ESET.

About ESET ESET is privately held and has branch offices and distributors in over 200 countries. ESET's NOD32 anti-virus solution is a record holder for the number of VB100 awards received, according to British publication Virus Bulletin, as well as ADVANCED+ and ADVANCED testing laboratory AV-Comparatives. In Russia, the business version of ESET is FSTEC certified. Further information is available at www.eset.com.

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 US and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant point-of-sale solution Aptito. 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 such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Further information is available at www.netelement.com.

Forward-Looking Statements 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, but are not limited to whether the relationship with ESET will positively impact the Company. Additional examples of such risks and uncertainties are : (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
+1 (786) 923-0502
media@netelement.com

Source: Net Element, Inc.

 

Net Element Releases Letter to Shareholders


 Letter to Shareholders Summarizing Milestones for 2016


MIAMI, FL -- (Marketwired) -- 01/25/17  -- Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, today released the following letter to shareholders from the Company's chief executive officer, Oleg Firer:

Dear Fellow Shareholders,

As we begin the New Year, I would like to take this opportunity to recap our achievements for 2016 and lay out several exciting objectives for 2017.

I am pleased to say that despite economic challenges and changing our business model, 2016 was a successful year for Net Element. Our achievements provided growth, and positioned us for continued success as we continue to expand our global transaction services in the United States and select international markets.

2016 marked a year of significant progress and corporate achievements. We executed several complex initiatives and continue to make great strides in delivering on the strategic endeavors that we have been working on for the past three years. While a few of these endeavors are still in progress, our overall operations, competitive posture, and growth are much stronger today than they were one year ago.

Total transactions processed during 2016 were 187 million compared to 161 million for 2015.
Total transaction dollars processed during 2016 was $2.1 billion.
Total transaction dollars processed geographically in North American and international markets in 2016 were $1.6 billion and $448 million, respectively.
Growth across all categories was organic.
Key to Net Element's success is its dedicated management team and talented technology development, support staff and sales teams -- which have all contributed to Net Element's ability to achieve its goals for 2016. Our common objective is to enable the Company reach the goals we have outlined for 2017 and future years.

Net Element Business Model

In 2013 we defined our business model, prioritized our opportunities and objectives, and established the infrastructure necessary to achieve our goals. We focused on several primary business goals.

One of our first objectives was to deliver our expertise in transactional services in North America to select international markets across multiple channels, touchpoints and payment methods.

Our long-term objective was to create single, international on-boarding and transaction processing platform to power global commerce. With the introduction of our proprietary carrier billing platform, "Trinity Platform," in July 2014, paired with our acquisition of proprietary online and mobile payments transaction processing platform, PayOnline in May 2015, Net Element has been on track to achieve its long-term objectives and become a fast-growing provider of transactional services in select international markets. Our capabilities resulted in total processing volume for 2016 of $2.1 billion, a 245% increase since 2013, while transactions processed for 2016 reached 187 million, a 2,661% increase since 2013. Our platform is now available in over 50 countries, supporting more than 100 payment methods internationally.

Significant Achievements in 2016

Recognitions

Net Element was named one of the fastest-growing technology companies in South Florida Business Journal's 2016 Technology Awards.
PayOnline was named the best payment processing gateway in 2016 by Tagline.
PayOnline was also recognized for its payment acceptance services by Markswebb Rank & Report, ranked as a Top 5 payment acceptance company.
Board of Director Changes

Appointed Howard Ash, an international business development professional, to our Board of Directors and as chairman of the Audit Committee.
New Partnerships:

Esquire Bank - this multi-year contract includes transaction clearing services, sponsorship for payment networks, bank identification number and merchant marketing agreement.
Mashreqbank in United Arab Emirates - this new partnership expands Net Element's processing capabilities in the region.
Round Bank in Russia - under this collaboration agreement, we integrated the first 70 online merchants to the PayOnline platform.
AGBank in Azerbaijan - a new agreement with AGBank, one of Azerbaijan's leading banks, allows PayOnline to process online transactions in the growing market of Southwestern Asia.
New Key Client Relationships

Dunkin' Donuts became a client in Russia; PayOnline enabled online ordering and payments for one of the world's largest coffee and baked goods chains.
ExLine became a client in Kazakhstan; PayOnline enabled secure online payments for Kazakhstan's market-leading courier service.
Digital Provider enabled mobile payments at Vnukovo Airport; our proprietary mobile transaction processing engine was integrated into airports infrastructure to power essential components of mobile ecosystem.
VTB Insurance a leading insurance company in Russia became a client. PayOnline enabled a first-of-its-kind payment service for insurance premiums for VTB Insurance.
Geographical Expansion

Continued expansion in the Central Asian market.
Launched payment processing and mobile payments in Azerbaijan.
Signed leading online travel agency and national TV network as clients.
Capital

In 2016 we were successful in raising capital utilizing debt exchange and equity financing instruments.
Product Launches

Launched payment acceptance module for popular instant messenger application Telegram
Launched proprietary gift card software application for Smart Payment Terminals
PayOnline payments module became available for popular e-commerce and CMS platforms
PayOnline introduced a new payment interface. New multi-channel payment interface is based on the user experience of more than 10 million online shoppers
Unified Payments launched Mobile Point of Sale for iOS. Merchants can interact and transact with customers anywhere with our robust mobile processing and analytical tools
Launched fully integrated omni-channel gift and loyalty platform
Launched Aptito in Russia, aiming to lead in the underserved POS software market
Released Aptito Point-of-Sale solution for retail stores, which helps improve the experience retailers provide in-store through enhancing add-on services such as inventory management and analytical tools
Launched SalesCentral On-the-Go to expedite merchant approval and boarding
Outlook for 2017

We had a strong start in 2017 with implementation of payment acceptance services for ReservHotel, a leading travel distribution and booking provider serving over 500,000 travel agencies around the world, as well as for Sutochno.ru, the leading short-term accommodation rental service in Russia with over 700,000 online booking requests annually.

For the remainder of the year, we will continue to focus on strategic partnerships and innovative products that will further expand our services, positioning Net Element as a convenient one-stop solution for payments services to a global merchant community. We also intend to expand our presence in North America through distribution and integrated-services programs. In addition, we intend to further consolidate and centralize our operational infrastructure and resources.

Conclusion

We are very pleased with the progress that Net Element made during 2016, and look forward to further significant accomplishments in 2017.

Most importantly, we remain focused on the execution of our long-term objective to create a single, international on-boarding and transaction processing platform across payments ecosystems.

I would like to thank all of the shareholders for their continued support, especially given the volatility of the trading price of our stock during 2016. We anticipate that our improving financial results, continued expansion, strong partnerships and executing on growth endeavors will produce improved shareholder value in 2017.

We will continue communicating our developments to the investment community, and encourage shareholders and potential investors to visit our website and follow our social media channels, such as Facebook (https://www.Facebook.com/NetElement) and Twitter (https://Twitter.com/NeteInc), to stay informed and fully aware of new developments as they occur.

Thank you for your support and for taking the time to review this update letter. On behalf of all of us at Net Element, we wish each and everyone of you a healthy and prosperous 2017.

Sincerely,

Oleg Firer
Chief Executive Officer
Net Element, Inc.

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 US and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant point-of-sale solution Aptito. 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 such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Further information is available at www.netelement.com.

Forward-Looking Statements 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, but are not limited to whether the Company will be successful in expansion and growth endeavors and in entering into new partnerships; and even if it is successful in any or all of these endeavors, whether this will positively impact the Company or result in improved shareholder value. Additional examples of such risks and uncertainties are : (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
+1 (786) 923-0502
media@netelement.com

Source: Net Element, Inc.

 

Net Element's PayOnline Provides Payment Acceptance for the Leading Short-Term Accommodation Rental Service in Russia


 Sutochno.ru receives over 700,000 online booking requests


MIAMI, FL -- (Marketwired) -- 01/12/17 -- Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, today announces that Sutochno.ru, the leading C2C short-term accommodation booking servi¿¿ in Russia, is now a client of PayOnline.

Sutochno.ru features over 70,000 property listings, which last year attracted more than 700,000 guests who used the platform to book short-term accommodations throughout Russia. Sutochno.ru differentiates itself from Airbnb by being more country specific and offering a more attractive pricing model for guests. Additionally, while Airbnb takes commissions from the guests, Sutochno.ru only charges the hosts a commission and an optional fee to have a priority position in the list of available properties.

"We are excited to partner with PayOnline for our payment processing needs. PayOnline provides us with a complete solution for all of our payment needs such as pre-authorization, escrowing and payment processing via all types of cards," commented Yuri Kuznetsov, founder of Sutochno.ru. "Together with PayOnline we are developing innovative mechanisms specific to our business that will add convenience, security and enhance the user experience."

"We are honored to see Sutochno.ru amongst our merchants; PayOnline has invested heavily in product development, and it is rewarding to see how merchants can utilize the capabilities of our platform to meet their business needs and provide an excellent experience to the end consumer," commented Marat Abasaliev, CEO of PayOnline.

About Sutochno.ru Sutochno.ru is a Russian based peer-to-peer marketplace allowing consumers to list their residential properties for other consumers to book on a short-term basis. The company was launched 5 years ago, currently serves over 700,000 guests on an annual basis and has over 70,000 active listings. Further information is available at www.sutochno.ru.

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 US and selected emerging markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant point-of-sale solution Aptito. 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 such as UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Further information is available at www.netelement.com.

Forward-Looking Statements

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, but are not limited to whether the relationship with Sutochno.ru will positively impact the Company. Additional examples of such risks and uncertainties are : (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
+1 (786) 923-0502
media@netelement.com

Source: Net Element, Inc.

 

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About Net Element, Inc.:


Welcome to Net Element
A technology-driven group specializing in mobile payments and value-added transactional services.

The company is strategically positioned for growth in emerging countries and the United States.

Who we are

Net Element (NASDAQ: NETE) is a global technology-driven group specializing in mobile payments and value-added transactional services. The company owns and operates a global mobile payments and transactional processing provider, TOT Group, Inc. ("TOT Group"). TOT Group companies include Unified Payments, recognized by Inc. Magazine as the #1 Fastest Growing Company in America in 2012, Aptito, a next generation cloud-based point of sale payments platform, Restoactive, a seamless digital add-ons for legacy POS systems, Digital Provider, a leading provider of SMS messaging and mobile billing solutions, and Payonline, fully-integrated, processor agnostic electronic commerce platform.

Our Team
Each of our corporate officers brings a unique blend of leadership, vision, experience and creative energy to the company.

Oleg Firer - Chief Executive Officer and Director

As Chief Executive Officer at Net Element, Mr. Firer is responsible for the overall vision, strategy and execution of company's mission of powering global commerce. Before taking on his current position, Mr. Firer served as Executive Chairman of Unified Payments and has led the company from its inception until its acquisition by TOT Group in April of 2013. Under his leadership, Unified Payments' revenues grew by 23,646% over 3 year period and the company was ranked as #1 fastest-growing company by Inc. Magazine in 2012. Prior to Unified Payments, Mr. Firer held senior executive positions in private equity, payment processing, wireless communications and technology companies. Mr. Firer was recognized by Forbes as one of the 5 Incredible Enterpreneurs and by Business Leader Magazine as a Top Enterpreneur in South Florida, named by Poder Magazine as one of the Most Influential People in Miami and recognized by Inc. Magazine as the founder of the fastest-growing private company in 2012. Mr. Firer serves as a board member of Net Element, TOT Group's parent company and a member of the Electronic Transactions Association (ETA) Mobile Payments, ISO Practices and Risk, Fraud & Security committees. Mr. Firer supports the initiatives of the Firer Family Charitable Foundation, the charitable family fund focused on helping families and children in need.

Jonathan New - Chief Financial Officer

Mr. New has been Chief Financial Officer of the Company since October 2, 2012. Mr. New was Chief Financial Officer of the Company’s predecessor, Net Element, Inc., from March 10, 2008 until October 2, 2012. From 2001 to 2003, Mr. New was Chief Operating Officer of Ener1, Inc. From 2004 until it was sold in 2006, Mr. New owned and operated Wholesale Salon Furniture Corp.com, which imported and distributed salon equipment. Thereafter, until joining Net Element, Inc., Mr. New provided services to public companies on a variety of corporate accounting, reporting and audit related issues. Prior to joining Ener1, Inc. in 2001, Mr. New held controller and chief financial officer positions with companies including Häagen-Dazs, Virtacon (a web development company), RAI Credit Corporation and Prudential of Florida. Mr. New obtained his BS in Accounting from Florida State University and began his career with Accenture. He is a member of the Florida Institute of Certified Public Accountants and the American Institute of Certified Public Accountants.

Steven Wolberg - Chief Legal Officer and Secretary

Steven Wolberg has been Chief Legal Officer and Secretary of Net Element since April 16, 2013. Mr. Wolberg served in various capacities with Acies Corporation from approximately January 2009 until December 2012, including as a consultant from approximately January 2009 until October 2009, as a director from October 30, 2009 until December 2012 and as Chief Strategy Officer from March 1, 2010 until December 2012. Mr. Wolberg currently operates a solo law practice in Newton, Massachusetts, Attorney Steven Wolberg, which he has operated since January 1997. Mr. Wolberg served as Chief Counsel and Vice President of Corporate Development for Mascot Networks in Cambridge, Massachusetts from January 2000 to September 2001. Since September 1996, Mr. Wolberg has served as president of Oakland Properties, Inc., a real estate development company. From February 1993 to December 1994, Mr. Wolberg served as an attorney in the real estate and corporate divisions of Brown and Rudnick in Boston, Massachusetts. From March 1988 to November 1991, Mr. Wolberg was a partner with the law firm of Jordaan and Wolberg in Johannesburg, South Africa. From January 1986 to February 1988, Mr. Wolberg was employed as an attorney with Goodman and North in Johannesburg, South Africa. Mr. Wolberg also currently owns and serves as the Managing Member of Prime Portfolios, LLC, which holds a private investment portfolio of payment processing companies. Mr. Wolberg received his Bachelor of Arts from the University of Witwatersrand in Johannesburg, South Africa, his Bachelors of Laws from the University of Witwatersrand, in Johannesburg, South Africa, and his Juris Doctorate from the New England School of Law in Boston, Massachusetts. Mr. Wolberg is a member of the Massachusetts Bar Association.

Our Services
Our solution doesn't fit all. All the flexibility you need to keep up with your customers.

MOBILE PAYMENTS
Accept payments anytime, anywhere. Our Mobile Payments app is available for most devices.

VALUE-ADDED SERVICES
Cloud-based solutions that are built to increase productivity and enhance revenue for our clients and partners.

MARKETING SOLUTIONS
From product reviews and recommendation engines to wish lists and product comparisons we turn lookers into buyers.

BUSINESS ANALYTICS
We make it easy to monitor your business metrics, engage with your customers, and compare your business to competitors, all in one dashboard.

Key products and services

Restaurant POS Solution
Aptito’s all-in-one iOS cloud based restaurant management and payment acceptance solution offers the most complete package of features to bring food and beverage industry into the new age. Our digital menus and kiosks offered on the iPad are easy to customize and seamlessly integrate with our full-featured iPad based EMV compliant Point-of-Sale (POS) system and iPhone app. It’s never been easier to interact with your customers, manage your restaurant remotely, and flat out increase your profitability

Retail POS Solution
Aptito’s cloud based Aptito Retail POS is available on iOS and Android mobile devices, includes fully integrated cash drawer, receipt printer, barcode scanner, barcode printer, scales, self-service fast-track system and EMV complaint bankcard acceptance terminal with ability to accept Apple Pay & Android Pay. Aptito Retail is available with local server, which allows our merchants to always remain online, even if the Internet connection to the cloud is lost. Our local server solution is automatically synchronized with cloud, providing 99.99% uptime

Mobile POS Solution
Unified Payments Mobile POS provides small businesses with seamless and secure mobile payment acceptance without investment into expensive and complicated hardware or software. Unified Mobile POS packs all functionality that merchants will ever need in a neat and easy to use interface. It can be used for a simple payment acceptance, which takes seconds, or you can use product inventory to build an order and record customer details for future use. Supplied bankcard reader is EMV compliant.

Retail Payments Solutions
Every second of every day, Unified Payments makes payment transactions secure, fast and easy for our merchants and their customers. Our clients can accept Visa ®, MasterCard ®, AMEX ®, Discover ®, debit and gift cards, Apple Pay ® with variety of state-of-the-art EMV complaint POS solutions and terminals with NFC capability. Our free gift and loyalty card solution helps our merchants to engage their customers, drive sales and increase customer loyalty with personalized incentives.

Reports And Analytics
Unified Payments Insights is an online business dashboard that gives merchants a 360 degree view of their business. With UP Merchant Insights, merchants are able to compare current revenue, online reputation, and social media activity to their past performance and similar businesses in their area. They can also see what their customers are saying about their business across Yelp, TripAdvisor, Foursquare, OpenTable, Facebook, Twitter and many more all in one simple, easy to use dashboard.

Sales Partner Solution
Sales Central is our comprehensive back office solution for Independent Sales Organizations. Our merchant underwriting and boarding process is seamless and paperless. Our ISOs are equipped with merchant pricing, residuals calculation and risk management modules, which take care of most of their day-to-day operations. Our ISOs can manage your profit by using multi-level, single-click, drill-down navigation to pricing, detail, summary and statement information.

Mobile Transactions Solution
Digital Provider is a mobile payment processor and mobile commerce provider that facilitate the payment, aggregation and distribution of mobile transactions. Our clients include wireless carriers, content providers and merchants. We offer the most profitable rates, broad array of settlement or clearing settlement on any working day on a client's request, as well as a flexible interface that allows projecting and creating any kind of SMS or WAP services

Online Payments Solution
Payonline provides a wide range of value-added solutions utilizing our fully-integrated, processor agnostic electronic commerce platform that simplifies complex enterprise online transaction processing challenges from payment acceptance and processing through risk prevention and payment security via point-to-point encryption and tokenization solutions. Our proprietary software-as-a-service (“SaaS”) suite of solutions for electronic and mobile commerce gateway and payment processing platform is compliant at Level 1 of Payment Card Industry (“PCI”) Data Security Standards (“DSS”)


.SOURCE: http://www.netelement.com




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