Multi-Currency Pricing enables online merchants to more
effectively expand into foreign markets by allowing their
international customers to view pricing and pay in their own
currency. This capability represents a considerable market
opportunity, as global eCommerce sales are expected to top $27
trillion in 2020, with Asia-Pacific remaining the world's largest
retail eCommerce market, according to a report from
eMarketer.com
"Planet Payment is eager to partner with a prominent payment
services provider like Unified Payments," said Chris Greenstein,
director U.S. Sales & Acquirer Relations at Planet Payment. "As
global eCommerce sales continue to rise; we believe it is
imperative for merchants in the U.S. to broaden their reach.
Multi-Currency Pricing allows them to expand in the right way, by
offering customized pricing that international customers will
appreciate."
Delivered through the convenience of a single U.S. merchant
account, Multi-Currency Pricing lets online merchants sell in their
customers' currencies while continuing to be paid in U.S. dollars
-- without affecting current funding schedules. Additionally,
merchants can price the same item in multiple currencies, including
Euros, Japanese Yen, Mexican Pesos, Euros or Canadian Dollars,
allowing e-tailers to maximize their global reach.
"We are excited to form this partnership with Planet Payment to
bring our online merchants the ability to price in multiple
currencies and expand their global reach," commented Vlad
Sadovskiy, president of Unified Payments. "When entering new
markets, it is crucial to cater to your target audience.
Multi-Currency Pricing lets our online merchants do just that, by
providing them with the tools to create an enhanced shopping
experience for their international customers."
About Planet Payments
Planet Payment is a provider of international payment and
transaction processing and multi-currency processing services. The
Company provides its services to approximately 189,000 active
merchant locations in 22 countries and territories across the Asia
Pacific region, the Americas, the Middle East, Africa and Europe,
primarily through its acquiring bank and processor customers, as
well as through its own direct sales force. Our point-of-sale and
e-commerce services help merchants sell more goods and services to
consumers, and together with our ATM services, are integrated
within the payment card transaction flow, enabling our acquiring
customers, their merchants and consumers to shop, pay, transact and
reconcile payment transactions in multiple currencies, geographies
and channels. For more information visit www.planetpayments.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 whether
the relationship with Planet Payment will 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.