MIAMI, FL--(NewMediaWire - Dec 1, 2015) - Net
Element, Inc. (NASDAQ: NETE)
("Net Element" or the "Company"), a provider of global mobile
payment technology solutions and value-added transactional
services, today announced that its mobile payments subsidiary has
reached yet another growth milestone by exceeding 3
million recurring mobile payment subscribers in
October 2015, which represents 171% increase since January 2015.
The Company is also unveiling the new corporate name for its mobile
payments business -- Digital Provider, which replaces its existing
TOT Money brand. The new name and logo were introduced to reflect
the evolution of the Company and its initiatives as a digital
provider of mobile payment services and content monetization tools
in emerging markets.
Record Growth for Mobile Payments Business
Evidencing impressive market penetration, Digital Provider's
(formerly "TOT Money") monthly processed volume for October
2015 increased by 86% since January
2015 and 122% over October
2015. Digital Provider has also seen double digit, quarter
over quarter growth in subscribers during 2015.
New services offered as part of the re-branding
initiative:
- Proprietary content monetization and management platform.
Allows increased monetization of digital content by providing
turn-key solutions for content owners and application developers,
as well as an ability to work with content management partners who
are interested in monetizing CIS audience
White label solution for digital content providers and sales
partners. Offers advanced features allowing content partners to
create cross media mobile marketing campaigns
Proprietary WAP-click platform available for deployment by Mobile
Network Operators (MNOs) to increase mobile subscriber Average
Revenue Per User (ARPU) as well as convenience for the end user
In house call centre with proprietary software solutions for
quality control and direct interaction with end users
-
"Over the past year our mobile payments business has grown
significantly as we've added many new features and expanded beyond
mobile payments to include digital content management and
fulfilment," commented Oleg Firer, CEO of Net Element. "These
incredible October figures reflect our commitment to serving
emerging markets with an expansion of innovative services that
further propel Net Element as a leading mobile payments and digital
content provider in selected Emerging Markets."
"The company has built solid commercial and technical
foundations for growth, building brand awareness is very important
to us as we expand our services to digital content monetization,"
commented Mikhail Shabanov, Managing Director of Digital
Provider.
Benefiting from a powerful suite of Digital Provider services
such as premium SMS, WAP-click, Internet-click, in-app purchases
and other direct-carrier billing integration services, mobile phone
users are able to use their devices to make mobile payments by
debiting their mobile operator account.
About Digital Provider
OOO Digital Provider ("Digital Provider"), a subsidiary of Net
Element, Inc., is a direct carrier billing and mobile payments
provider that facilitates the payment, aggregation and distribution
of secure, modern mobile transactions. Digital Provider works with
the largest mobile operators in Commonwealth Independent States
(CIS) and selected emerging markets. Digital Provider services
a wide range of clients including content providers, social media
networks, game developers and merchants offering a broad array of
payment options, and a flexible interface. Digital Provider is
positioned as an industry leader in the growing CIS mobile payments
market. Further information is available at http://digitalprovider.ru/en/.
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,
Russian Federation and other international 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, India and Latin America where initiatives
have been recently launched. It maintains offices in Miami, FL and
in Russia. Further information is available at www.netelement.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the 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. These forward-looking statements include, without
limitation, whether the name change from TOT Money to DIgital
Provider will have any material impact on the Company, whether the
number of users and processing volume growth are sustainable or
will yield positive results for the Company, whether the new
service offerings will be adopted by customers or result in
increased sales or revenues, whether Net Element can secure
any additional financing and if such additional financing will be
adequate to meet the Company's objectives. 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: (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 and the subsequently filed
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.