MIAMI, FL -- (Marketwired) -- 06/21/17 --
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.
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.
Net Element, Inc.
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Source: Net Element, Inc.
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