MIAMI, FL--(Marketwired - 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."
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.
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.