MIAMI, FL, June 12, 2018 (GLOBE NEWSWIRE) -- 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, announces the extension of its Netevia platform to include a smart solution for enabling secure vendor payments.
According to Statista’s 2017 B2B Ecommerce report, “B2B business is now dwarfing that of the B2C business.” Global B2B sales are estimated at $7.7 trillion, compared to $2.3 trillion in B2C sales. Netevia’s vendor payments solution streamlines B2B payments by improving payment processes and reducing the costs to send payments through a user-friendly web and mobile platform interface.
Netevia advantages include:
- Payments are safely and electronically delivered using a secure single-use dynamic credit card number. These payments can only be processed by the designated single vendor for a specific amount, and have added controls for improved flexibility and security
- Seamlessly works with existing accounting systems, and requires no complex setup or integration
- 24/7 customer support by phone, email or live chat
“We are excited to enable this functionality on our Netevia platform and make Netevia a market platform where small and medium-sized businesses can find comprehensive and innovative card payments-oriented solutions to enhance their operations. Enabling vendor payments is one more step towards achieving this goal,” commented Vlad Sadovskiy, president of integrated payments for Net Element.
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 blockchain 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 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.
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. Examples of such risks and uncertainties include but are not limited to whether the smart vendor payments solution will be well received or utilized . 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.
Other Point of Sale News
- Technology innovation and e-commerce a necessity for bricks retailers to remain profitable
- TNS Report Identifies Significant Growth Opportunities for Unattended Terminals
- Retailers and ATM Networks Form New Coalition to Address Payments Security
- iQ3™ from Packsize Resolves Big Box Problem for Ship-from-Store Retail Community
- IntelliTrack Expands E-Commerce Platform Integrations
- ShipBob & Returnly Speed Up Returns Processing to Enable Faster Shopper Refunds
- Biometrics-Based Security Benefits Consumers, But Not Yet CNP Merchants
- Checkpoint Systems’ Merchandise Visibility Retail Solutions at NRF Protect June 11-13
- May Retail Jobs Increase 28,800 From April and 100,200 From May 2017
- Online Lending Empowers U.S. Small Businesses to Generate 358K Jobs