Digital Application Provides a Streamlined, Paperless and Efficient Process for Merchant Account Approvals and Boarding Using Mobile Devices
) - January 19, 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 subsidiary Unified Payments has released Sales Central On The Go (www.salescentral.com), a new boarding interface for its sales partners, agents and merchants, which streamlines and automates the merchant account sign-up process, delivers real-time decisions and paperless boarding approval from online and mobile devices.
The newly-added mobile boarding capability facilitates API-driven, instant boarding to multiple payment processing platforms and provides new merchants with a modular approach for providing their personal and business information. The platform manages underwriting, risk assessment, merchant ID assignments and is compliant with banking standards such as Know Your Customer regulations.
Sales Central On The Go automates the business and identity validation processes that merchants must undergo in order to receive the necessary approvals to accept credit and debit card payments. The new boarding process minimizes human errors, provides a scalable, paperless and user friendly application process that adapts to individual merchant needs. It adjusts the scope of information and documentation required according to the processing volume of each merchant allowing sales partners and agents to upload merchant documentation and sign digitally using DocuSign electronic signature technology integration.
"With Sales Central On The Go, acquiring new merchants is easier than ever," commented Dave Chester, CEO of Unified Payments. "Sales partners and agents can now complete the on-boarding process from just about anywhere and get merchants processing immediately without completing paper applications which are typically time consuming and often result in having to come back to the merchants for additional information at a later time."
About Unified Payments
Unified Payments, wholly-owned subsidiary of Net Element, Inc. is one of the leading providers of bankcard payment processing services and value-add solutions in the United States. Unified Payments enables small and medium size merchants to accept cashless transactions for their merchandise and services by providing point-of-sale equipment, transaction processing, merchant business analytics, risk management, fraud detection, 24 hours / 7 days a week merchant assistance, support and chargeback management services. For more information, visitwww.unifiedpayments.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 Sales Central On The Go will have a positive impact for sales partners, agents and merchants, whether the Company will benefit from the Sales Central On The Go boarding interface, 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.
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