MIAMI, FL--(NewMediaWire - Oct 10, 2016)
- 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 its wholly
owned PayOnline subsidiary has signed an agreement with ExLine
(http://exline.kz/en), enabling online payment
acceptance for Kazakhstan's market leader in courier services.
Payment acceptance for courier services is now available to more
than 50,000 of ExLine's customers.
ExLine offers its high-quality "door-to-door"
transportation-based courier services and express delivery of
packaged correspondence, parcels and cargo to all regional and
district centers within the Republic of Kazakhstan in Central Asia
and beyond.
With double-digit annual growth of its customer base, expanding
geographical coverage, and an increase of Internet penetration in
Kazakhstan, ExLine and its customers are positioned to greatly
benefit from the integration of online payment acceptance services
into the company's offerings.
In order to simplify and speed up the process of secure online
payment acceptance, PayOnline has implemented a custom payment
solution which includes an invoice number on the secure payment
page. Payments are accepted in Kazakhstan's national currency,
"Tenge," as well as in Russian rubles, U.S. dollars and euros. As
part of the offering, PayOnline is providing 24/7 customer support
to ExLine customers through its customer support call center.
"For us, the implementation of payment acceptance on the company
website is a significant step forward. Despite the fact that
PayOnline only recently entered the e-commerce market in
Kazakhstan, we have no doubt that our relationship with them will
be mutually beneficial," says Gabit Abaildaev, chief financial
officer of ExLine. "Recommendations from PayOnline's long-term
international clients and its acquiring partner, Kazkommertsbank
("KAZKOM"), gave us the assurance we needed during our selection
process. Other reasons for selecting PayOnline as our payment
partner were its deep understanding of the specifics of the Central
Asian markets, its customer-orientated approach, its relationship
with reliable partners, ability to work with the country's national
currency, its support for popular technologies in the region, and
enhanced payment security. We believe that in the near future the
adoption of online payments at ExLine and in the entire e-commerce
market of Kazakhstan will be a significant portion of customer
payments processed and we are confident that PayOnline will
successfully manage Kazakhstan's rapidly growing online payments
market."
About ExLine
ExLine was established on July 31, 2003. In a short time ExLine
developed a strong niche in the courier services market and proved
itself as a reliable partner, to whom many local and international
businesses entrust their shipments. ExLine has practical experience
in the market of courier, freight forwarding services, proven
technology of transportation, delivery of mail and cargo. The
knowledge and expertise of its employees provide reliable and high
quality services. ExLine operates its own road transport, and has
an information and logistics center in the region for processing,
warehousing and storage of various items. For more information
visit: http://exline.kz/en.
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, we are growing transactional revenue with innovative services
including our cloud based, restaurant 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. 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 ExLine 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.