SOURCE: Net Element, Inc.

Net Element, Inc.

September 20, 2017 08:30 ET

Net Element's PayOnline Launches Payment Acceptance for Azimuth Airlines

PayOnline enables payment acceptance for new Russian airline

MIAMI, FL--(Marketwired - Sep 20, 2017) - Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a global financial technology and value-added solutions group that supports electronic payments acceptance in an omni-channel environment spanning across point-of-sale (POS), e-commerce and mobile devices, today announces that its PayOnline subsidiary has launched payment acceptance services for Azimuth Airlines.

The new airline opened for air ticket sales last week, featuring flights between Moscow, Rostov-on-Don and Omsk. PayOnline powers a fully integrated payment acceptance solution through the airline's website. In addition to its user-friendly interface, PayOnline's solution complies with local sales tax reporting regulations and offers the maximum level of protection against fraudulent transactions while allowing a high percentage of payment approvals. 

Azimuth Airlines plans to become the base carrier of the new Platov airport, which is being constructed near the city of Rostov-on-Don, the largest city in the south of Russia. In just six months, the airline prepared to enter the Russian air transportation market. The first flight of the airline is scheduled for September 21, 2017.

"Azimuth Airlines launched the sale of air tickets online. The first and main sales channel was the official website, azimuth.aero. To facilitate the acceptance of online payments for air tickets we used the capabilities of PayOnline," commented Maxim Krasnov, Head of Sales for JSC Azimuth Airlines. "As a result, the online payment process with bank cards turned out to be as friendly as possible for passengers. The payment page and the form of payment are customized in the style of our airline, the form automatically adapts to the screen size for comfortable use on mobile devices."

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 and retail 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. Net Element was named in 2016 by South Florida Business Journal as one of the fastest growing technology companies. 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 relationship with Azimut Airlines will be beneficial to 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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