SOURCE: Net Element, Inc.

Net Element, Inc.

February 24, 2016 08:45 ET

Net Element's Unified Payments Partners With Esquire Bank

Four-Year Contract Includes Transaction Clearing Services, Sponsorship for Payment Networks, Bank Identification Number and Merchant Marketing Agreement

MIAMI, FL--(Marketwired - Feb 24, 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 subsidiary, Unified Payments, has entered into a multi-year processing agreement with Esquire Bank, N.A. ("Esquire Bank"), a national-chartered full service commercial bank. The agreement includes marketing, transaction clearing, draft capture, settlement and payment networks Bank Identification Number ("BIN") sponsorship.

A dedicated Bank Identification Number represents a distinct way to segregate merchants and allows the Company to present payment transactions directly to Visa®, MasterCard®, Discover Network®, American Express® and Electronic Benefits Transfer ("EBT") as well as other card brand networks. In addition, it provides the Company greater flexibility in its choice of front-end authorization and back-end settlement platforms.

As a result of this partnership the Company will provide mobile payments and multi-functional, technology-driven transactional services to Esquire Bank's commercial clients.

"We are excited about our partnership with Esquire Bank on the heels of its entry into South Florida market," commented Oleg Firer, CEO of Net Element. "Under this agreement, Unified Payments will launch its direct merchant acquiring in the United States by leveraging BIN sponsorship through Esquire Bank."

"Esquire Bank is extremely pleased to establish this relationship with Unified Payments," commented Fred Horn, Senior Vice President/Director of Merchant Services of Esquire Bank. "Our payments processing business model is to locate and accelerate innovators in the payments industry. Unified Payments fits our profile and, with its many business lines, represents multiple future opportunities. We are expecting a long and profitable relationship for both of our companies."

About Esquire Bank, N.A.
Esquire Bank, N.A. is a full service commercial bank dedicated to serving the financial needs of the legal industry as well as commercial and retail customers in the New York Metro market and across the country. Esquire's expertise, focus and strong capital base provide a solid foundation to meet our clients' needs. The bank offers tailored products and solutions to the legal community and their clients. Esquire is headquartered in Garden City, N.Y. and has offices in New York City and Palm Beach, Florida. For more information, visit www.esquirebank.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 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 agreement with Esquire Bank will positively impact the Company's business, 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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