SOURCE: Net Element, Inc.

Net Element, Inc.

July 27, 2016 08:45 ET

PayOnline Introduces a New Payment Interface

New Multi-Channel Payment Interface Is Based on the User Experience of More Than 10 Million Online Shoppers

MIAMI, FL--(Marketwired - Jul 27, 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, PayOnline, launched a new payment interface which adapts to any device for easy payment acceptance. The new payment interface also enhances the user's experience by providing an easy to use, one-click payment solution. This user-friendly interface demonstrated increased conversion rates of visitors to payments during the two month pilot program. The newly introduced multi-channel payment interface became available to over 10 million online shoppers through more than three thousand international e-commerce merchants.

Supports multiple payment methods including the new "Mir" card

The new payment interface supports the networks of Visa, MasterCard, JCB, American Express, China Union Pay and Diners Club. It also supports payment acceptance from the most popular e-wallets and alternative payment systems in the Russian Federation and Commonwealth of Independent States ("CIS") including QIWI, Webmoney, Yandex Money as well as online payment acceptance for the recently launched Russian National Payment Card System - branded "Mir," which means "peace" or "world" in Russian. PayOnline was one of the first independent payment service providers to support acceptance of "Mir" cards.

Benefits of new payment interface:

  • New payment form loads 46% faster than the previous version
  • More intuitive interface
  • Automatic help feature supports online shoppers throughout the payment experience
  • Multilingual interface available in English, Russian, French and German languages

"PayOnline continues its leadership role in payment conversions with the implementation of this new payment interface," commented Marat Abasaliev, CEO of PayOnline. "We continue to innovate and invest in the quality of our products and services, which differentiates us in the markets we serve."

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

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 new payment interface will increases the conversion of visitors to pay ratio, whether Net Element can secure any additional financing and if such additional financing will be adequate to meet the Company's objectives and whether the transaction will add to the growth of the Company's business and increase the Company's market share internationally. 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) the Company's issuances of the Company's common stock from time to time in exchange for retiring the Company's debt may cause substantial dilution to our existing stockholders and the sale of the shares of our common stock acquired by Crede in exchange for our debt could cause the price of our common stock to decline; (xiii) 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.

Contact Information