SOURCE: Net Element, Inc.

Net Element, Inc.

March 23, 2015 09:25 ET

Net Element Releases Cloud-Based Sales Central, Proprietary Merchant Management Portal

MIAMI, FL--(Marketwired - Mar 23, 2015) -  Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a global technology leader in mobile payments and value-added transactional services today announced the release of its proprietary portal "Sales Central" -- designed to enhance responsiveness of its sales partners and improve sales efficiency.

The cloud-based solution provides to both Independent Sales Groups (ISGs) and merchants an integrated toolkit to more effectively manage a variety of sales, operations, reporting and accounting functions. The system is designed to improve conversion rates, technology advisory functions and to reduce deployment time for merchants. It also allows troubleshooting of merchant issues in real-time.

Sales Central is Unified Payments comprehensive back office solution for ISGs. Sales Central allows ISGs to onboard merchants on multiple processing platforms available in the U.S. Its merchant underwriting and boarding process is seamless and paperless. Merchant Library allows ISG's to safely store and retrieve any agreement, form or contract, related to merchants.

ISGs that utilize the system will be equipped with merchant pricing, residual calculations and risk management modules, which allow easier management of most of their day-to-day operations. ISGs compensation and merchant profitability can be managed using multi-level, single-click, drill-down navigation to pricing, detail, summary and statement information.

Sales Central Key features include:

  • Integration with multiple merchant management systems
  • Merchant onboarding onto multiple processing platforms
  • Integration with American Express OptBlue program, allowing single onboarding and reporting for all major U.S. card brands
  • Merchant processing data, with merchant level access and full history of processing statements including full deposit reconciliation reporting
  • Interactive reports with charts and custom filters
  • Customer support ticketing system
  • Commission tracking and calculation
  • Equipment inventory and deployment tracking
  • Chargeback, retrievals and dispute monitoring

Sales Central is currently one of the few cloud-based systems nationwide that allow ISGs to onboard and monitor merchants on multiple processing platforms through a single interface.

Sales Central for Merchants is the integrated reporting, accounting and analytics back office solution for small and medium size merchants. A variety of reporting tools along with easy to understand charts enables merchants to analyze sales and improve performance.

The integrated Unified Payments Insights module is a business dashboard focused on "Big Data" that gives merchants a 360-degree view of their business. With Unified Payments Insights, merchants can compare current revenue, online reputation, and social media activity to their past performance and to similar businesses in their area. The ticket system allows direct communication with Unified Payments service and technical support designed to improve the customer service experience.

About Net Element
Net Element (NASDAQ: NETE) is a global payments-as-a-service, technology provider with an integrated mobile and transactional services platform serving millions of emerging market clients. Its wholly owned subsidiary, TOT Group operates Unified Payments, a U.S. focused transaction processing and value-added services brand, Aptito, a next generation, cloud-based point of sale payments platform and TOT Money, a leading mobile payments service provider that is gaining significant traction in the mobile payments market in Russia and for two consecutive years, has been ranked in the Top 3 mobile payments providers by Beeline, Russia's second largest telecommunications operator. 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 release of the new Sales Central Product will have any positive impact on the Company, whether the new product features will enhance the experience of ISG's and Merchants, whether ISG's and Merchants will derive any benefit from the new product features, whether the Sales Central new features will be adequate to address the needs of ISG's and Merchants, 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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