MIAMI, FL -- (Marketwired) -- 02/14/17 --
Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, today announces that Digital Provider has expanded its Direct Carrier Billing ("DCB") services to the emerging markets of Poland and Turkey. Integration of Digital Provider's proprietary Trinity Platform allows access to 113.5 million mobile users in these markets.
Under this expansion, the full suite of Net Element's Digital Provider services -- which includes DCB, one-click mobile payments, HTML5 services, PSMS, WAP automated phone billing, subscription by PIN, PIN submit, A2P/P2A, SMS billing, and mobile commerce -- is now available in Poland and Turkey, where Digital Provider's anti-fraud platform with advanced authentication technology and in-house call center platform will also be utilized.
Integration allows billing on all major mobile network operators in the region, which in Poland includes Orange, Plus, Play, and T-Mobile, and in Turkey includes Turk Telekom, Turkcell and Vodafone.
Content providers and aggregators in these emerging markets are now able to increase their conversion and sales volumes by tapping into the full power of mobile commerce, and provide their customers the ability to use their mobile devices as a form of payment for on-demand and subscription-based services using the one-click payments module over a data connection. This capability is part of Digital Provider's proprietary Trinity Platform that allows Digital Provider to bill mobile network operators on behalf of mobile users. Payments are processed without any additional information from the mobile user, which provides a significant conversion improvement compared to other payment methods.
DCB is a major revenue stream for mobile network operators in developing economies. According to Juniper Research, DCB in emerging countries generates app-store conversion rates about five times higher than credit cards. Digital sales include music, ringtones, e-books and apps. The advantage of using a mobile phone for the latter is that the transaction remains anonymous.
SuperData Research estimates carrier billing to be the second most popular payment method in Poland (19.4%) and the fourth most popular payment method in Turkey (8%) after digital wallets for payments in games.
"Direct carrier billing solutions from Digital Provider allows anyone with a mobile phone to make payments," commented Mikhail Shabanov, General Director of Digital Provider. "Direct carrier billing requires the mobile user only to enter their phone number to make a payment. In contrast, card-based payments require the user to share their name, card number, home address etc. Due to a shorter checkout time, merchants using both payment methods report significantly better conversion rates with carrier billing than with credit cards."
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.
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 introduction of Direct Carrier
Billing and other services offered by the Company into Poland and Turkey will positively impact 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.
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Source: Net Element, Inc.
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