SOURCE: Net Element, Inc.

Net Element, Inc.

November 08, 2016 08:45 ET

Net Element Launches Proprietary Gift Card Software Application for Smart Payment Terminals

Unified Payments' gift card software application is now available on Poynt's smart payment terminal

MIAMI, FL--(Marketwired - Nov 8, 2016) - Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, announces the launch of its proprietary gift card application for smart payment terminals. Now available for retailers and merchants nationwide, the Unified Payments gift card application made its initial debut on Poynt's (http://www.poynt.com) smart payment terminal at the Money 2020 event in Las Vegas.

Net Element's omni-channel gift and loyalty platform enables small-to-medium size businesses to centralize their customer data spanning in-store, online, and via social and mobile channels. Building on this platform, the newly launched Unified Payments gift card application is now fully integrated with Poynt's "terminal" and "register" applications and works seamlessly with any other payment acceptance application utilizing Poynt's payment framework.

The Unified Payments application interface is intuitive and does not require any training for its many capabilities and features. Cashiers can issue new cards, add value, transfer value between cards, accept payment utilizing physical or virtual cards, void payment, check the card balance, and replace the card if needed. For full oversight, management has direct access to all gift card transactions via Poynt's smart payment terminal large screen display as well as online on Net Element's SalesCentral reporting system.

For merchants, the Unified Payments gift card program for smart payment terminals offers flexible methods to increase their cash flow. Merchants can seamlessly integrate multiple program types into a single gift card. Existing merchants can convert their gift card database into Unified Payments gift card platform at an affordable cost per customer.

Key Benefits of the Gift Card Program:

  • Promotes sales and new products/services
  • Creates individualized gifts for every occasion
  • Boosts brand awareness and impulse purchasing
  • Eliminates fraud and risk of double usage
  • Provides complete transaction tracking

"We are pleased to introduce this new software application for smart payment terminals just in time for the 2016 holiday season," comments Oleg Firer, CEO of Net Element. "In less than a month, and in close cooperation with our partners, our software engineers were able to successfully design, program and test the application on Poynt's smart payment terminal. We are excited to offer this broad functionality gift card application on Poynt's smart payment terminal. Our Unified Payment gift card application is available to all sales partners and merchants nationwide."

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 gift card application for smart payment terminals will be widely adopted or result in additional business for 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.

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