SOURCE: Net Element, Inc.

Net Element, Inc.

May 31, 2016 08:45 ET

PayOnline Recognized for Its Payment Acceptance Services in 2016

Independent Analytical Agency Markswebb Rank & Report Ranked Net Element's PayOnline as Top 5 for Its Efficiency of Service

MIAMI, FL--(Marketwired - May 31, 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 top 5 payment acceptance company by independent analytical agency Markswebb Rank & Report ("Markswebb") in the 2016 Internet Acquiring Rank report.

Markswebb ranked internet payment acceptance companies and banks for merchant experience in the selection and use of Internet payment acceptance services, namely: extensive technical integration services to merchant's sites, an ability to withdraw funds in a single day, comfortable and functional account management and reporting, alternative payment methods and high level of customer support. As noted by Markswebb, none of the merchant acquiring banks made it to the top 10 place. Most banks that provide Internet payment acceptance services do not provide alternative payment methods, only display limited information about their offerings on their sites and have limited online reporting and analytical tools. A web translation of 2016 Internet Acquriting Rank Report is available at http://tiny.cc/markswebb-ia2016-en

According to Markswebb, over the last month 80% of Russian Internet users aged 18 to 64 years, or 43.8 million people, have made at least one purchase online and this represents a significant opportunity for effective online payment acceptance companies.

"We are proud to be recognized in the top 5 for our efficiency and our extensive service offering," commented Marat Abasaliev, CEO of PayOnline. "We will continue to further improve our team and infrastructure to meet and exceed market expectations."

About Markswebb Rank & Report

Analytical agency Markswebb Rank & Report specializes in research, auditing and consulting for Internet product development companies. The agency was founded in 2010 and Managing Partners of the agency have extensive experience in Internet marketing and working with the largest Russian Internet companies. One of the basic principles of the agency is the complete independence of the studies and published ratings. Further information is available at http://markswebb.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.

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 Company will be successful in improving its team and infrastructure, 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.

Contact Information