MIAMI, FL -- (Marketwired) -- 06/01/17 --
Net Element, Inc. (NASDAQ: NETE), a global financial technology and value-added solutions group that supports companies in accepting electronic payments in an omni-channel environment that spans point-of-sale (POS), e-commerce and mobile devices, today announces that its PayOnline subsidiary has launched payment acceptance services for V-Tell, an international mobile network operator.
The business relationship with V-Tell highlights Net Element's capabilities as a global payment acceptance platform that facilitates cross-border transactions through a comprehensive range of services that include an on-boarding interface, in-application payment acceptance, as well as an extensive suite of fraud protection solutions, data analytics and reporting tools.
V-Tell enables limitless communication by dissolving borders between countries and continents via a roam-free network. V-Tell provides customers mobile services at fixed rates around the world. The company's networks combine high-speed communication channels and switching systems in one high-tech solution based on a unique multi-IMSI platform controlled by a state-of-the-art global billing system. This innovative technology creates a global "home" network that allowing customers to access voice, Internet and SMS services in any part of the world.
"We are excited about our partnership with Net Element as we utilize multiple payment methods available through the PayOnline platform, including recurring billing and one-click payment solutions for our website and mobile application," commented Felix Vakhovsky, CEO & President of V-Tell Group of Companies. "We are also pleased with the host of anti-fraud tools provided by PayOnline."
V-Tell is an international mobile operator that provides mobile services to customers around the world. Through consistent expansion, V-Tell covers an ever-increasing number of locations, using the latest technology and equipment to support its customer offerings. V-Tell Subscribers can forget about multiple devices and multiple SIM cards. A single V-Tell SIM card provides V-Tell customers with the ability to have an almost unlimited number of permanently active personal phone numbers from any country on one device. Further information is available at: http://www.v-tell.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.
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 relationship with V-Tell 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.
Net Element, Inc.
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Source: Net Element, Inc.
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