Net Element will be offering PCI ToolKit in Chinese, English, Russian
and Spanish languages for Payment Card Industry Data Security
Standard (PCI DSS) merchant portfolio assessments. Net
Element and its merchants will also have access to
the Cyber Attack Readiness
ToolKit™ and InConRadar™ toolsets for penetration
testing, primary account number (PAN) scanning and real-time
website monitoring of prohibited card brand acceptance
activities.
"The integrated compliance-related solution set with the
flexibility to handle multiple languages made partnering with
Conformance Technologies a very easy decision for us," said Oleg
Firer, chief executive officer for Net Element. "Their solutions
provide us with a revenue opportunity, while making painful and
costly compliance activities understandable and affordable for our
diverse customer base," added Firer.
"We are excited to partner with Net Element to give their
merchants access to compliance solutions in the languages they
speak every day," said Darrel Anderson, president of Conformance
Technologies. "The design of the Conformance Compliance Operating
System™ enables the roll out of multi-language capabilities in just
a matter of days," added Anderson. "The end result is that Net
Element customers have confidence they are protecting their
businesses with the most comprehensive and affordable toolkit
solutions available that are easy to use and understand."
About Conformance Technologies
Conformance Technologies is a fast-growing provider of operating
systems, educational systems and expertise used in managing
business compliance requirements. More than 300,000 small and
midsize business end-users rely on Conformance Technologies'
solutions to protect their businesses every day, both domestically
and around the world. Available solutions include the patented PCI
ToolKit, Data Incident Management Program®, TINMatch ToolKit™,
Cyber Attack Readiness ToolKit, Payment Security Awareness System™,
Breach Defense Reviewer™ and InConRadar which offers cost
effective, real-time merchant website monitoring.
Conformance Technologies is a privately held corporation
headquartered in Reno, Nevada, with offices in Phoenix, Arizona,
Orange County, California and San Antonio, Texas. Evolving
from a payments consultancy and PCI compliance firm established in
2003, Conformance has become a leading provider of automated
compliance and sensitive data protection systems and services. For
more information, please visit www.conformancetech.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 partnership with Conformance
Technologies will generate revenue for or otherwise be beneficial
to 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.