MIAMI, FL--(Marketwired - Jan 6, 2017) - Net Element, Inc. (NASDAQ: NETE) ("Net Element" or the "Company"), a provider of global mobile payment technology solutions and value-added transactional services, today announces that its subsidiary Unified Payments has entered into an agreement and launched payment acceptance services for ReservHotel, a leading provider of travel distribution and booking solutions for hotels worldwide.
This contract further highlights Net Element's capabilities as a global payment acceptance platform that facilitates cross-border transactions through a comprehensive range of services that includes on-boarding interface, extensive suite of fraud protection solutions, data analytics and reporting tools.
ReservHotel is a travel distribution and booking solutions company that offers Global Distribution System ("GDS") connecting to over 500,000 travel agencies around the world, an award winning booking engine, channel management services to seamlessly manage rates and promotions on Hotels.com, Expedia, Booking.com, Hotelbeds.com, Travelocity, Orbitz, Trivago and Agoda, web solutions, analytics and voice reservation services. Its clients include Couples Resorts, Grand Lucayan Bahamas, Palace Resorts, Pueblo Bonito Oceanfront Resorts and Spas and Peermont Global among others. ReservHotel is a member of the Caribbean Hotel Association and certified by TripAdvisor.
"We are fortunate to be partnering with ReservHotel, a premier travel booking solution provider for independent hotels worldwide," commented Oleg Firer, CEO of Net Element.
"We are excited about partnering with Net Element; not only can they provide a comprehensive solution for our hotel client's payment needs, but they can adapt to work with different currencies and countries around the world which is critical for our independent hotels," commented Luis Barberi, CEO of ReservHotel.
ReservHotel is an international marketing and service company for hotels worldwide. ReservHotel's signature, high-tech, reservation systems have propelled its growth and success in this select markets since 1991. The influence of ReservHotel technological advancements has been widespread making it one of the largest and most innovative hotel representative companies in this industry today. Based in Miami, Florida, USA, ReservHotel's extended presence reaches throughout the world with international offices in Mexico, Brazil, South Africa, Australia, and now Brussels, Belgium where its European Headquarters are located. Further information is available at: https://www.reservhotel.com.
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 Russia, UAE, Kazakhstan, Kyrgyzstan and Azerbaijan where initiatives have been recently launched. Further information is available at www.netelement.com.
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 ReservHotel 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.