SOURCE: Net Element, Inc.

Net Element, Inc.

February 04, 2016 08:45 ET

Net Element Announces Record Transaction Processing Results for the Fourth Quarter and Year Ended December 31, 2015

Total Transactions Processed Increased by 210% Year Over Year

MIAMI, FL--(Marketwired - Feb 4, 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 announced preliminary transaction processing results for the fourth quarter and year ended December 31, 2015.

2015 Full Year Results:

  • Total US Dollar volume processed globally in 2015 exceeded $1.75 billion with an annual run rate of over $2 billion as of December 2015, an increase of 9.4% compared to $1.6 billion in 2014. (Russian volume includes effects of currency adjustments)
  • Total transactions processed for 2015 exceeded 160.7 million compared to 51.9 million in 2014, an increase of 210%.

2015 Fourth Quarter Results:

  • Total US Dollar volume processed in the fourth quarter of 2015 exceeded $537 million, an increase of 28% compared to $420 million in 2014.
  • Total transactions processed in the fourth quarter of 2015 exceeded 53.5 million, an increase of 128% compared to 23.5 million in 2014.
  • Total number of consumers served exceeded 14 million in the fourth quarter of 2015, an increase of 1,386% compared to 942 thousand in 2014. (11 million of consumers are attributed to the PayOnline acquisition completed in 2015)

"2015 was another record year across all key operating metrics," commented Oleg Firer, CEO of Net Element. "We are pleased with our fourth quarter metrics. We were able to post strong gains from our core businesses despite unfavorable currency conversion rates in 2015."

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, Russian Federation and other international markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its 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, India and Latin America where initiatives have been recently launched. It maintains offices in Miami, FL and in Russia. Further information is available at

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 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.

Contact Information