Cryptocurrency Payment Features are Available to Merchants Across Multiple Touch Points
MIAMI, FL, Jan. 02, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Net Element, Inc. (NASDAQ: NETE)(“Net Element” or the “Company”), a global technology and value-added solutions group that supports electronic payments acceptance in a multi-channel environment including point-of-sale (“POS”), e-commerce and mobile devices, announced today the launch of its multi-channel blockchain-powered payments application across multiple touch points including face-to-face via smart payment terminals and electronic commerce as well as via API.
The fully compliant and secure Cryptocurrency payment acceptance application forms part of Netevia, a recently launched feature-ready multi-channel payments platform that connects and simplifies payments through a single integration point while increasing economic efficiency of all transactions made within the ecosystem. This model complements Net Element’s ability to perform in a multi-channel environment, including POS, e-commerce, mobile devices and blockchain technology solutions.
Retailers and services providers have typically struggled with inefficient and costly payment mechanisms that have not kept pace with global commerce. The Netevia platform supports the use of cryptocurrency as a payment method in a multi-channel commerce environment including Poynt and PAX smart payment terminals, e-commerce, in-app or online payment forms that combine credit card and cryptocurrency payment methods in one simplified interface. Developers may use Netevia’s API payment mechanism to add cryptocurrency acceptance functions as is or create new ones to fit their needs using Netevia’s user-friendly developer center.
“Over the past few years blockchain technology has revolutionized the world of payments thanks to its decentralization, cost-effectiveness and convenience,” commented Vlad Sadovskiy, President of integrated payments for Net Element. “The addition of a cryptocurrency payment acceptance option to our Netevia platform carries forward our tradition of innovation as we power global commerce.”
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 U.S. and selected emerging markets. In the U.S., the Company aims to grow transactional revenue by innovating SME productivity services using various technology solutions and Aptito, our cloud-based, restaurant and retail point-of-sale solution. 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. Net Element was ranked as one of the fastest growing companies in North America on Deloitte's 2017 and 2018 Technology Fast 500™. In 2017 we were recognized by South Florida Business Journal as one of 2016's fastest-growing technology companies. Further information is available at www.NetElement.com.
Forward-Looking Statements
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. 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. An example of such risk and uncertainty is whether the blockchain-powered Cryptocurrency payment acceptance application will be widely adopted or be a success for the Company. Additional 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; and (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, 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.