MIAMI, FL - (NewMediaWire) - December 22, 2015 - 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 has entered into a merchant processing contract and launched payment acceptance services for the popular global online dating network Dating.com.
This contract further highlights Net Element's momentum as a global payments-as-a-service platform that facilitates cross-border transactions through a comprehensive range of services that includes single on-boarding interface, extensive suite of fraud protection solutions, data analytics and reporting tools. This technical integration also makes over 100 payment methods available to Dating.com. Global transaction information is accessible as PayOnline routes transactions from all channels and from all payment methods through a single payment gateway.
With a fully integrated, bank-agnostic, tokenization solution, PayOnline helps simplify complex cross-border enterprise payment processing. PayOnline's SaaS-based suite of solutions is PCI-DSS certified and enables merchants to streamline electronic payment acceptance and reduce the scope and burden of PCI compliance. PayOnline safeguards its entire electronic merchant's payment ecosystem providing merchants with a peace of mind that their transaction are safe and secure.
"According to datingreviews.com, 50 percent of all relationships could begin online by 2031. By 2040, that number could jump to 70 percent," commented Marat Abasaliev, CEO of PayOnline. "With the recent addition of Dating.com to our family of merchants, PayOnline is well positioned to benefit from this growing market trend."
Dating.com was looking at new and innovative ways to improve one-time and recurring payment experiences of their clients. PayOnline gives Dating.com the ability to offer a broader, innovative choice of payment methods and extend the availability of on-line payments to clients who previously did not have an on-line payment option.
"We will continue applying resources to developing advantages in our payment platform to provide processing and operational support to merchants who are serving customers in multiple regions," commented Oleg Firer, CEO of Net Element.
Dating.com is at the forefront of the online dating world and offers an unmatched global reach. Launched in 1993, Dating.com now covers more than 32 countries and offers the technology that lets members have a unique dating experience. Dating.com connects singles around the world and inspires romance on a global scale. Dating.com offers the most direct and successful approach to meeting singles anywhere in the world. For more information, visit www.dating.com.
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, Russian Federation and other international 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, India and Latin America where initiatives have been recently launched. It maintains offices in Miami, FL and in Russia. 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 PayOnline suite of solutions will have a positive impact for merchants, whether PayOnline or the Company will benefit from trends in the online dating market, whether any resources the Company may use into the PayOnline payment platform will be beneficial to merchant users, 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.