SOURCE: Net Element, Inc.

Net Element, Inc.

June 10, 2015 08:57 ET

Net Element Includes Apple Pay™ in New Version of Aptito, Its Cloud-Based Restaurant Management and Payment System

Competitive Features and Pricing Appeals to Independent Restaurant Segment

MIAMI, FL--(Marketwired - Jun 10, 2015) - Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company") today announced its launch of Aptito v. 2.9, proprietary cloud-based, hospitality focused Point-of-Sale (POS) system, providing universal payment acceptance and numerous restaurant productivity upgrades.

Aptito is a mobile iPad and iPhone restaurant productivity and omni-channel payment processing solution that improves restaurant efficiency, lowers costs and enhances customer experience.

Aptito v. 2.9 rounds out its payment acceptance options with the integration of EMV chip technology and Apple Pay™ into its transactional processing platform.

A flexible pricing structure allows easier access for merchants with diverse needs and resources.

Direct Aptito integration with payments processor, Total System Services (TSYS) allows merchants to bypass third-party gateway fees.

Other important new Aptito product features include:

  • WiFi enabled interactive kitchen display
  • Multiple happy hour pricing management
  • Bluetooth printer integration
  • Improved employee management including automated time card and shift reports

"These upgrades provide a competitive edge to the product and should facilitate Aptito sales efforts and increase transactional revenue," commented Oleg Firer, CEO. "By delivering these tools our goal is to help grow the business of our customers and assure greater transactional volume for Net Element."

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 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 upgrades to the Aptito product will have any benefit to the Company, including whether it will result in reduced monthly processing fees for merchants, will provide a competitive edge to the product offering or will result in increasing the Company's transactional revenue. These forward-looking statements further include 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