MIAMI, FL--(NewMediaWire - May 31, 2016)
- 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 wholly-owned subsidiary,
PayOnline was ranked as a top 5 payment acceptance company by
independent analytical agency Markswebb Rank & Report
("Markswebb") in the 2016 Internet Acquiring Rank report.
Markswebb ranked internet payment acceptance companies and banks
for merchant experience in the selection and use of Internet
payment acceptance services, namely: extensive technical
integration services to merchant's sites, an ability to withdraw
funds in a single day, comfortable and functional account
management and reporting, alternative payment methods and high
level of customer support. As noted by Markswebb, none of the
merchant acquiring banks made it to the top 10 place. Most banks
that provide Internet payment acceptance services do not provide
alternative payment methods, only display limited information about
their offerings on their sites and have limited online reporting
and analytical tools. A web translation of 2016 Internet Acquriting
Rank Report is available at http://tiny.cc/markswebb-ia2016-en.
According to Markswebb, over the last month 80% of Russian
Internet users aged 18 to 64 years, or 43.8 million people, have
made at least one purchase online and this represents a significant
opportunity for effective online payment acceptance companies.
"We are proud to be recognized in the top 5 for our efficiency
and our extensive service offering," commented Marat Abasaliev, CEO
of PayOnline. "We will continue to further improve our team and
infrastructure to meet and exceed market expectations."
About Markswebb Rank & Report
Analytical agency Markswebb Rank & Report specializes in
research, auditing and consulting for Internet product development
companies. The agency was founded in 2010 and Managing Partners of
the agency have extensive experience in Internet marketing and
working with the largest Russian Internet companies. One of the
basic principles of the agency is the complete independence of the
studies and published ratings. Further information is available
at http://markswebb.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
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 Company will be successful in improving its
team and infrastructure, 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.