MIAMI, FL--(NewMediaWire - Sep 20, 2016)
- Net Element,
Inc. (NASDAQ: NETE) ("us" or "we"), a provider of global
mobile payment technology solutions and value-added transactional
services, announced today its transactions processing volumes for
the first 7 months of 2016 as compared to the same period in
2015.
Discounting the effects of foreign currency exchange, total
dollars processed from January 2016 through July 2016 increased 77%
to $1,025.8 million from $592.7 million in transaction volume
during the same period in 2015. Online solutions saw the largest
increase of 90% from $160.9 to $305.0 million. Mobile solutions
processed increased 84% from $12.8 to $23.4 million, predominantly
driven by the introduction of branded content. North America
transactions solutions increased 66% from $419.1 million to $697.4
million. Effects of foreign currency exchange were eliminated by
converting rubles to dollars at the average rate for July 2016 for
both periods.
Oleg Firer, CEO of Net Element, commented, "We are pleased with
our continued growth and further penetration into emerging markets.
Our growth is facilitated by our innovative, customer-focused
products and services and delivered by teams of outstanding people.
We are hopeful that this trend will continue for the remainder of
2016 and beyond."
Total transactions processed during the first 7 months of 2015
were 75.3 million compared to 99.0 million for the same period in
2016. The 32% increase in transactions processed came primarily
from North America Transactions solutions which saw a 67% increase
from 26.7 million to 44.5 million. Online solutions experienced a
27% increase from 11.6 million to 14.7 million transactions. Mobile
solutions processed 37.0 versus 39.7 million which represented a 7%
increase. The majority of growth in all segments was
organic.
The accompanying charts represent our geographic breakdown of
processed dollar volume and processed transaction volume between
North America and Emerging Markets.
Total transaction dollars processed geographically in North
America and Emerging Markets year-to-date through July 2016 were
$697.4 million and $328.4 million respectively, which represents an
increase of 66% and 89% over the same time period in 2015. Total
number of transactions processed in North America and Emerging
Markets year-to-date through July 2016 were 44.5 million and 54.4
million respectively, which represents an increase of 67% and 12%
over the same period in 2015.
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, we are growing transactional revenue with innovative services
including our 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 transactions growth experienced by the
Company will continue, 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.