MIAMI, FL-(NewMediaWire - Jun 21, 2017)
- Net Element,
Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a
global financial technology and value-added solutions group that
supports electronic payments acceptance in an omni-channel
environment spanning across point-of-sale (POS), e-commerce and
mobile devices, today announces that its PayOnline subsidiary
expanded its list of integrations and partnerships in Europe
through an addition of Payvision to its network of partners and
access to 120+ currencies globally.
Cooperation with Payvision has broadened the scope of PayOnline
customers' capabilities. Thanks to this partnership, PayOnline has
an additional channel to route payments in Europe, as well as
manage 3D level security in payments. This allows merchants to
ensure they get the sale regardless of how the customer chooses to
pay, thus achieving a high conversion rate in successful payments.
One example is Intui Travel (https://en.intui.travel), a website for
searching and booking airport, port and train transportation
online. Working together with Payvision, PayOnline was able to
reach an 89% conversion rate for Intui Travel.
"Intui Travel facilitates international business. We work with
customers and suppliers from 190 countries. We needed payment
solutions that offered optimal convenience for the payer and
protected the company from fraud. With PayOnline we were able to
offer optimal combinations of these factors in a cost-effective
manner. We are satisfied with the constructive approach of
PayOnline employees to the tasks that have arisen in the process of
teamwork. We continue to cooperate and agree on development goals
that can stimulate business growth for PayOnline and Intui Travel,"
commented Ilya Balakhnichev, Managing Director of Intui Travel.
In addition to 120+ currencies, merchants can withdraw funds in
American, Canadian, Australian and New Zealand dollars, Swiss
francs, Swedish kroner, Danish kroner, euro, British pound,
Japanese yen, Norwegian krone, Polish zloty, and South African
rand. The conversion takes place at the rate of Visa / Mastercard,
which makes the financial terms profitable for the merchants.
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
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 relationship with Payvision will be
beneficial to the Company, 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.