MIAMI, FL--(Marketwired - Jul 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, PayOnline was ranked as a leading payment gateway by independent digital market analytical agency Tagline.ru ("Tagline") in its 2016 Payment Systems Rating.
The Top-10 payment gateway rating was compiled based on a survey performed from August 2014 - April 2015 with more than 390 digital-agencies that have production and/or client offices in Russia, introducing payment tools for their customers' projects. Respondents provided answers to the questions like "What pay tools do you integrate in digital-solutions for your customers?" Companies represented in the rating were mainly payment integrators and processing centers with abilities to process bankcard and e-wallet transactions.
PayOnline moved up 2 positions from its previous 4th place ranking 2 years ago to its current 2nd place ranking. http://tagline.ru/payment-systems-rating/
Earlier this year an independent analytical agency Markwebb Rank & Report ranked PayOnline as a Top-5 payment acceptance company in Russia in its 2016 Internet Acquiring Rank Report. The agency noted its rating of participants by looking at the ease of technical integration of service with clients' web-sites, next day settlements, user friendly merchant reporting, acceptance of alternative payment methods and the level of customer support provided.
"We are proud to be recognized as a leading payment gateway," commented Marat Abasaliev, CEO of PayOnline. "PayOnline's team is committed to delivering growth and disruptive product offerings that help create new market and value for merchants across selected emerging markets."
Tagline is the first and largest analytical agency that does research on the digital-production market, mobile development and related services. Further information is available at http://www.tagline.ru.
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.
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 ratings awarded to PayOnline will have a positive impact on or 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.