SOURCE: Net Element, Inc.

Net Element, Inc.

June 07, 2016 08:45 ET

Net Element's Digital Provider Enables Mobile Payments at Vnukovo Airport

Digital Provider's Proprietary, Mobile Transaction Processing Engine Integrated Into Airports Infrastructure to Power Essential Component of Mobility Ecosystem

MIAMI, FL and MOSCOW, RUSSIA--(Marketwired - Jun 7, 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 that its wholly-owned subsidiary Digital Provider has enabled mobile payments acceptance for Wi-Fi Internet access at Vnukovo International Airport.

Vnukovo International Airport is a dual runway international airport located 28 kilometers (17 mi) southwest from the center of Moscow, Russia. It is one of the three major airports that serve Moscow. In 2015, the airport handled 15.8 million passengers and it is the third-busiest airport in Russia and Commonwealth of Independent States ("CIS").

Customers are able to pay for on-demand and subscription-based Wi-Fi Internet services using the one-click payments module, which is a part of Digital Provider's proprietary Trinity Platform that allows Digital Provider to bill mobile operator, credit or debit card for charges incurred during a Wi-Fi session.

Digital Provider was chosen for its security and its ability to be seamlessly integrated into any existing platform. Trinity Platform's powerful transaction processing engine enables airports, airlines, parking operators, ticket platforms, convention centers, stadiums, municipalities, universities, restaurants and an array of consumer-facing websites to allow their customers to easily purchase and pay for services and transportation services using any device having Internet access.

"We are pleased with the solution offered by Digital Provider, which enables our customers to use mobile payments acceptance and enhance their experience at Vnukovo International Airport," commented Aleksey Gurevich, IT Director of Vnukovo International Airport.

"We are proud to be chosen by Vnukovo International Airport and we will aim to expand our services to other key infrastructure and municipality projects in selected emerging markets," commented Mikhail Shabanov, CEO of Digital Provider.

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 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, 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 project with Vnukovo International Airport will be successful, whether the Company will be successful in expanding its services to other key infrastructure and municipality projects, 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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